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45 dynamic start-ups from Bahrain, Saudi Arabia, UAE, Lebanon Morocco, Palestine, Egypt, and Jordan to pitch at high-profile event
Manama - Tenmou, Bahrain's first 'Business Angels' organization, announced today that some of the most prominent Angel Investors will attend the MENA Angel Investor Summit 2015, one of the largest gatherings of venture capitalists, angel investors and entrepreneurs dedicated to building businesses in the Middle East and North Africa (MENA) region.
The high-profile event is organised in strategic partnership with the Bahrain Economic Development Board (EDB) and is scheduled to take place on 11th and 12th May 2015. The Summit aims to bring together angel investors and start-ups from around the MENA region and the rest of the world, giving an opportunity for investors to exchange deal-flow, learn best practices and raise awareness related to angel investment.
This year's summit features 45 dynamic fast-growth start-ups from Bahrain, Saudi Arabia, UAE, Lebanon, Morocco, Palestine, Egypt, and Jordan who will pitch to more than 200 angel investors to obtain funding to fuel their business growth. Participating start-ups in last year's event raised nearly US$2 million in funding from regional and international angel investors.
Commenting on the announcement, Hasan Haider, CEO of Tenmou said: "At Tenmou, our objective is to build a robust support system within the MENA region with Bahrain as the hub for angel investors from around the world to connect with the most promising entrepreneurs and provide knowledge, network and capital they need to realise their potential. This year, we expect a 30% increase in the number of participants, which includes an exciting line-up of promising start-ups from diverse sectors from the different MENA countries, as well as some of the region's most prominent businessmen."
Khalid Al Rumaihi, Chief Executive of the EDB, said: "The Middle East and North Africa are exciting and dynamic markets with gifted entrepreneurs looking to take advantage of fast economic growth. Events such as this are important to globally showcase the talented individuals and innovative start-up businesses from across our region.
"In Bahrain we recognise the importance of providing the right environment for entrepreneurs and start-ups to grow successful businesses. In fact, Bahrain's entrepreneurs have become a major contributor to the Kingdom's business story. According to a study conducted by KPMG in 2014, entrepreneurs and SMEs currently contribute more than 28% to Bahrain's GDP."
The inaugural summit held in 2014 attracted more than 150 angel investors and 50 entrepreneurs from the Middle East, North Africa, Europe and Silicon Valley in the US.
Launched in 2011, Tenmou aims to support entrepreneurs with valuable business assistance, including financial investment, mentorship, advice and guidance. Tenmou recognizes that for many entrepreneurs, mentorship programmes can be as valuable as financial investments. Each project receives practical advice and training from the company's board members, who bring with them a wealth of business experience. These training sessions expose the entrepreneurs to real business situations and are conducted in the form of workshops, on a regular basis.
Established with a start-up capital of BD1 million (US$2.7 million),Tenmou invests an average of BD20,000 (US$53,000) for a stake of on average 20% in each project that meets its criteria, and will provide a three-month mentorship period, including support services, at no cost to the entrepreneurs.
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For further press information on Tenmou please contact :
Neena Punnen
Hill + Knowlton Strategies
Tel: +973 17533532
Fax: +973 17533370
e-mail: Neena.punnen@hkstrategies.com
© Press Release 2015
