Bahrain announces special programme for 100 Arab start-ups

Easier market access, fast-track applications and access to funding part of programme to strengthen Arab start-up scene

  
  • 100 most promising start-ups of Arab world selected by World Economic Forum and Bahrain EBD

Dead Sea, Jordan: Bahrain today announced the roll-out of a new programme of support for the 100 Arab start-ups shaping the Fourth Industrial Revolution, at the World Economic Forum on the Middle East and North Africa.

The special programme will include: 

  • Access to the Bahraini market for all companies that have been recognized under the 100 Arab Start-Ups banner – going back to those selected in 2017 
  • Fast-tracking of applications to establish a presence in Bahrain 
  • The creation of a special 100 Arab Start-Ups concierge service to help start-ups navigate and benefit from the local Bahrain ecosystem 
  • Opportunity to pitch and access funding from Bahrain’s Sovereign Wealth Fund, as well as the VC partners of Al Waha Fund of Funds and family offices in the Kingdom 

The structured programme will allow start-ups to rapidly scale up their businesses and access a broader spectrum of support in Bahrain. 

“The 100 Arab start-ups shaping the Fourth Industrial Revolution is a great initiative and we need to collectively ensure it not just an annual celebration but a constant source of support to our most promising companies – so they can go on to become world-beaters,” said Khalid Al Rumaihi, Chief Executive of the Bahrain Economic Development Board. “These companies will define our futures and we want to open up the opportunities Bahrain offers with a special set of incentives that offers the most comprehensive support possible. With this programme, in partnership with the World Economic Forum, we really are offering the very best to the very best.”

With a 31% increase in investments compared to 2017, a new record was reached for regional start-up funding last year, according to data from MagniTT, a company twice selected by the 100 Arab Start-Ups initiative. Foreign investment remained stable in 2018 with 30% from outside the Arab world, while fintech took over e-commerce as the top industry as a result of an 8% increase in deals since 2017.

Selection committee

A selection committee of experts on the start-up ecosystem in the region worked with the World Economic Forum and the EDB to screen and select the 100 start-ups.

  • Abdulrahman Tarabzouni, Chief Executive Officer and Managing Director, Saudi Technology Ventures (STV)
  • Ahmed El Alfi, Founder and Chairman, Sawari Ventures
  • Amir Farha, Co-Founder and Managing Director, Beco Capital
  • Areije Al Shakar, Director and Fund Manager, Al Waha Venture Capital Fund; Senior Vice-President, Bahrain Development Bank
  • Hala Fadel, Founder and Managing Partner, Leap Ventures
  • Khaled Talhouni, Managing Partner, Wamda Capital
  • Mirek Dusek, Deputy Head of the Centre for Geopolitical and Regional Affairs, Member of the Executive Committee, World Economic Forum

About the meeting
With the full support and presence of Their Majesties King Abdullah II and Queen Rania Al Abdullah, the meeting convened more than 1,000 key leaders from government, business and civil society, as well as leaders from Gulf Cooperation Council countries, the Levant and North Africa, and key international stakeholders from East Africa, Europe and the United States. Building on the Forum’s Annual Meeting in January and its theme of Globalization 4.0, the World Economic Forum on the Middle East and North Africa took place under the theme, Building Platforms of Cooperation.

For more information on the meeting, visit: http://wef.ch/mena19

© Press Release 2019

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.


More From Press Releases