Barely a few days old, Flat6Labs Bahrain has already made it clear that it means business by setting itself an ambitious target to achieve within the next three years.
In case you haven’t already heard, there is a new accelerator in town. Flat6Labs Bahrain is a startup accelerator program launched on March 7, 2018, in collaboration with Tamkeen (labor fund), the program aims to invest in over 40 local and international entrepreneurs and startups over the next three years.
Flat6Labs Bahrain will primarily target the following sectors:
- Payments and financial services
- ICT and electronics
- Games and mobile apps
- B2B infrastructure services
- Industrial solutions
- Real estate technologies
The program will reward each selected startup with $30,000 in cash seed funding, as well as a mentorship-driven accelerator program spanning over 16 weeks. To meet its targets, the program will immediately register startups that show the potential to become commercially viable, investment-ready entities.
“We’re thrilled to launch Flat6Labs Bahrain as it marks our sixth chapter in our expansion within the MENA region,” said Ramez El-Serafy, Chief Executive of Flat6Labs.
He added: “It is such an exciting opportunity to bring Flat6Labs’ proven accelerator programme and expertise brought forward by the acceleration of more than 140 startups in over than 20 cycles across the MENA region since 2011.”
While Bahrain already has a number of successful accelerator programs serving the Kingdom’s booming startup ecosystem, the launch of Flat6Labs will further help the local scene to pave the way for a steady flow of exciting and innovative startups.