MANAMA, BAHRAIN, 5 December 2016 – Thomson Reuters, the world's leading provider of intelligent information for businesses and professionals, today released the findings of a Venture Capital Report on Economic Development in Bahrain.

The report was launched at the World Islamic Banking Conference in Bahrain. The study covers recommendations from leading market experts and exclusive interviews with market practitioners. It also outlines experiences of several countries with a focus on Shariah considerations related to venture capital.

According to the findings, Bahrain and the GCC region  have to adapt some aspects of the global venture capital role model and customize it to suit the region’s needs such as the introduction of new crowd funding regulations, easing the process of setting up legal entities for entrepreneurs, and expanding the existing the bankruptcy laws.

Furthermore, governments could play an important role in supporting the venture capital industry by providing matching funds, developing deal flow connection portals, and encouraging connections between VC firms and local professionals.

Khalid Al Rumaihi, Chief Executive of Bahrain Economic Development Board said, “The report highlights the significance that venture capital plays in promoting the entrepreneurship ecosystem in Bahrain and the region. Venture capital is an important element in job creation and contributes to the acceleration of innovation across regional economies.

“In Bahrain start-ups will find a perfect testing ground for their ideas, with mature regulation and advice and support available from both public and private sector organisations. Not only that, but with our strategic location and advanced ICT infrastructure and policies, Bahrain can act as a launch pad for successful start-ups to grow and bring their ideas to the wider region.”

Nadim Najjar, Managing Director, Middle East and North Africa, Thomson Reuters, said, “Venture capital is an important industry that needs to be nurtured in the MENA region. We believe that education can foster a real entrepreneurial mind-set. Universities can also help by introducing courses on entrepreneurship and increasing investment in research and development.”

To download the report, please visit https://www.zawya.com/mena/en/ifg-publications/211015111800R/  

Thomson Reuters
Thomson Reuters is the world’s leading source of news and information for professional markets. Our customers rely on us to deliver the intelligence, technology and expertise they need to find trusted answers. The business has operated in more than 100 countries for more than 100 years. Thomson Reuters shares are listed on the Toronto and New York Stock Exchanges (symbol: TRI). For more information, visit www.thomsonreuters.com.   

About EDB
The Bahrain Economic Development Board (EDB) is a dynamic public agency with the overall responsibility for attracting investment into the Kingdom and supporting initiatives that enhance the investment climate.

The EDB works with the government and both current and prospective investors to ensure that Bahrain’s investment climate is attractive, to communicate the key strengths, and to identify where opportunities exist for further economic growth through investment. The EDB focuses on several economic sectors that capitalise on Bahrain's competitive advantages. These sectors include Financial Services, Manufacturing, ICT, Tourism & Leisure, Logistics and Transport. For more information, visit www.bahrainedb.com     

Tarek Fleihan
Head, Corporate Communications & Public Relation 
Middle East, Africa & Russia / CIS
Thomson Reuters
+971 4 4536527
tarek.fleihan@tr.com 
www.thomsonreuters.com

© Press Release 2016