|21 November, 2019

Bahrain Development Bank plays crucial role to help entrepreneurs

Summit introduced 29 of the best startups from Bahrain and Mena

MANAMA: Bahrain Development Bank (BDB) Group is the only institution in the kingdom that caters to startups and small and medium enterprises (SMEs) through their life cycle, a top official of the bank has said.

According to BDB Group chief executive Sanjeev Paul, it is playing a vital role in supporting young entrepreneurs through financial and non-financial services.

Mr Paul said this in a statement issued after the conclusion of the Mena Angel Investors Summit 2019 organised by Tenmou – Bahrain’s first business angels company.

The group was a partner for the event held under the umbrella of the Global Entrepreneurship Week (GEW), aimed at providing a platform to empower and connect local and regional startups with investors across the region.

This year, the summit introduced 29 of the best startups from Bahrain and Mena region innovating in various industries ranging from health tech and fintech to education and logistics.

Topics discussed during the summit were: Introduction to being a business angel, Investors education, Forming a business angels network, Outlook and cultural insight from local business angels and Opportunities to fund startups.

The programme also featured a pitch presentation from Tenmou-funded companies and another one from high-potential regional entrepreneurs looking for funding.

Besides Mr Paul, the BDB Group was represented by Bahrain Business Incubator Company chairman and managing director Shaikh Hesham bin Mohammed Al Khalifa and BDB’s head of investment division Isa Al Doseri.

“The summit is another example of continued collaboration in our ecosystem. The event is a great opportunity for startups, SMEs, and investors to connect and learn from each other’s experiences,” said Mr Paul.

“BDB has 19.9 per cent stake in Tenmou, and it is considered one of our fast growing portfolio companies. The bank has supported the summit last year as well with financial sponsorship in addition to participation in the panel discussion.”

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