The Labour Fund (Tamkeen) announced the conclusion of the 8th edition of the Young Entrepreneur Program (Mashroo3i 2.0), following a Demo Day held for the program’s finalists. The latest edition saw 11 finalists, who have now completed the program’s three fundamental stages.
Mashroo3i 2.0 supports innovative Bahraini youth with the pursuit of their entrepreneurial ideas, helping to transform them into promising businesses that contribute to national economic growth and job creation. It also seeks to connect participants with experienced professionals to form productive future collaborations.
During the first phase, 60 teams were selected in various preliminary training sessions. Its focus was on helping them realize their business ideas and empowering them for to make pitches before a panel of experts. Twenty participants reached the second stage, receiving extensive consultation to help accelerate the launch of their projects and the development of prototypes.
The final stage, spanning four weeks, saw finalists undergo intensive training in preparation for the Demo Day before a group of potential investors and ecosystem stakeholders. The training included approximately 12 one-on-one consultations with experts aimed at developing their project launch action plans, followed by four general training sessions during which finalists met entrepreneurs who previously pitched to investors.
Highlighting to the initiative’s role in honing the skills of young Bahrainis, Tamkeen Chief Growth Officer, Khalid AlBayat pledged to continue efforts to empower Bahraini youth by providing support to entrepreneurs and startups. He said: “We are thrilled to witness the vibrant creative energy of Bahraini youth and their dedication to creating a positive impact through innovative ideas. Their contributions will enrich the national economy, encouraging other youth to engage in entrepreneurship as a career.”
He added: “Our support begins the moment a Bahraini decides to embark on their entrepreneurial journey, creating job opportunities for themselves and other high potential local talent. We remain committed to supporting all entrepreneurs in the Kingdom, in cooperation with other stakeholders within the local entrepreneurship ecosystem, as we collectively strive to foster economic growth.”
Entrepreneur Mohammed Al Qassab, co-founder of Beyoot, highlighted the significance of programs such as Mashroo3i 2.0 in empowering startups, particularly in their early stages, from idea generation to business plan development. He said: “The intensive training we received enabled us to refine our ideas, assess their effectiveness, and enhance the growth of our businesses. Through consultations with mentors, we were able to create a comprehensive business plan with clear steps for the future. Additionally, we had the opportunity to meet potential investors and stakeholders during Demo Day, which enriched our entrepreneurial journey.”
Eleven entrepreneurial ideas were showcased at the event, each featuring innovative solutions targeting sectors such as technology, industry, and creative industries. These ideas help create a diverse and prosperous landscape covering the local, regional, and even global economy.
This program is in line with Tamkeen’s 2024 strategic priorities focused on economic impact and private sector development, focusing on three pillars: increasing economic participation through new employment opportunities for new entrants, expanding career development opportunities available to Bahraini workforce, and further developing the private sector by supporting enterprises and boosting productivity and the adoption of technology.