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Mumtalakat Holding Company has teamed up with the Labour Fund (Tamkeen) to introduce the ‘Startup of The Year’ competition, spotlighting standout projects from past StartUp Bahrain Pitch events. The collaborative effort, marked by a signing ceremony attended by prominent figures including His Highness Shaikh Isa bin Salman bin Hamad Al Khalifa and Salman bin Khalifa Al Khalifa, signifies a concerted push to nurture Bahrain’s burgeoning startup scene.

Led by the SME Development Board, the StartUp Bahrain Pitch initiative has been instrumental in fortifying the kingdom’s entrepreneurial fabric since its inception in 2023. With backing from key entities like the Ministry of Industry and Commerce (MoIC), Tamkeen, the Economic Development Board (EDB), and Bahrain Development Bank (BDB), the initiative fosters connections between innovative founders and potential investors.

Mumtalakat will conduct a thorough feasibility study of participating companies, identifying deserving candidates for the coveted title of Startup of the Year. These selected startups stand to receive direct capital injections from Mumtalakat, subject to predefined terms and conditions, aimed at propelling their growth and impact.

Shaikh Abdulla bin Khalifa Al Khalifa, CEO of Mumtalakat, expressed enthusiasm for partnering with the SME Development Board and Tamkeen to invest in promising local ventures. He emphasized Mumtalakat’s commitment to fueling economic growth and fostering collaboration between the public and private sectors. Maha Abdulhameed Mofeez, Chief Executive of Tamkeen, echoed this sentiment, lauding the initiative’s potential to bolster entrepreneurship in Bahrain and cultivate a supportive ecosystem for local innovators.