Manama - Bahrain - Hambro Perks, the Global Investment Firm, in partnership with Al Waha Fund of Funds, which is managed by the Bahrain Development Bank, has launched HP Spring Studios, the first fintech-focused venture studio in the MENA region.
HP Spring Studios held a launch event on November 15th in the presence of distinguished guests, including Bahrain’s Minister of Industry and Commerce, H.E. Abdulla bin Adel Fakhro, and the British Ambassador to Bahrain, H.E. Alastair Long.
The launch of HP Spring Studios in Bahrain solidifies the country’s position as a fintech leader in the region. The studios will play a crucial role in further nurturing the fintech ecosystem and fostering entrepreneurial talent. This visionary initiative bridges London and Bahrain, strengthening both fintech ecosystems and driving growth in both countries.
It is also committed to benefiting communities, empowering entrepreneurs to turn their ideas into reality, creating skilled jobs for local and international talent, and making new investments in the region.
HP Spring Studios has already made a significant impact, launching two startups and investing in two others. With an unwavering commitment to benefiting communities across the MENA region. It creates skilled jobs for local and international talent, launching startups and making investments. This initiative bridges London and Bahrain, fostering a vibrant fintech ecosystem that drives growth. HP Spring Studios is committed to benefiting communities in the MENA region by empowering entrepreneurs to turn their ideas into reality. The opening ceremony marks the beginning of exciting developments and opportunities ahead.
H.E. Abdulla bin Adel Fakhro, Minister of Industry and Commerce in Bahrain, delivered a strong statement of support at the launch, highlighting the empowerment and growth of the Bahraini fintech ecosystem:
“This collaboration is a testament to Bahrain’s vision and leadership in advancing the fintech industry and solidifying its pivotal role as the fintech hub of the region. We believe in the power of collaboration, therefore, hand in hand with the private sector, we will create an environment that nurtures fintech innovation and empowers promising fintech startups. Where Bahrain can depend on its people and energetic youth to create the future and raise the Kingdom’s name high in all forums.”
Mr. Andrew Wyke, CEO and Founding Partner of Hambro Perks, also spoke at the event, highlighting Bahrain's strategic role in strengthening the ties between Britain and the Middle East:
"Bahrain is a key hub for innovation and entrepreneurship in the Middle East, and we are delighted to partner with the Al Waha Fund of Funds to launch HP Spring Studios, the first fintech-focused venture studio in the region. This venture studio will play a vital role in supporting the growth and development of fintech startups, which are driving innovation and transforming the financial services landscape in the region. We are confident that HP Spring Studios will be a success, and we look forward to working with the team to support the growth of the fintech ecosystem in Bahrain and the MENA region."
Al Waha Fund of Funds, a key investing partner in the establishment of HP Spring Studios, is committed to supporting startups in overcoming funding challenges and driving transformative growth in the MENA region. Ms.Dalal Al Qais, the CEO of Bahrain Development Bank, stated:
"Bahrain Development Bank is committed to helping businesses grow and excel. We go beyond financing by actively fostering startups and revolutionizing financial services. Our initiative will significantly enhance the fintech ecosystem, benefiting local entrepreneurs and communities in Bahrain. We are excited about the future of fintech startups and look forward to supporting the next generation of tech entrepreneurs. With a strong focus on fostering the startup ecosystem, we strive to create opportunities that enable aspiring entrepreneurs to thrive and to contribute to economic prosperity. HP Spring Studios, powered by this commitment, will play a pivotal role in building the fintech ecosystem, not only by empowering startups but also by materially improving financial services for people, revolutionising how they save, send, lend, manage, and invest their money."