Manama, 5th April – Flat6Labs is celebrating its third anniversary of its seed program in the Kingdom of Bahrain. Flat6Labs’ Bahrain Seed Program launched in partnership with Tamkeen, opened its doors in March 2018 and has supported 44 startups since then.
Through its Bahrain Seed Program, Flat6Labs has invested over $1,400,000 in innovative startups from Bahrain, and in international ones that have been incorporated in the country following investment. Together with its portfolio, the program has created over 200 jobs in Bahrain and trained over 200 entrepreneurs through its Bootcamp. Moreover, Flat6Labs’ portfolio in Bahrain has raised over $2,500,000 in follow-on funding from other investors.
Flat6Labs in Bahrain has also organised and collaborated on over 90 community engagement events and initiatives as part of its objective to raise awareness on entrepreneurship in the Kingdom of Bahrain. It’s bi-annual Demo Days where its startups graduate from the program and pitch their businesses generated a total audience of over 44,000 online viewers.
Saleh Abbas, Managing Director for Bahrain said ‘Being part of the startup ecosystem in Bahrain has given us the opportunity to contribute in a very impactful way towards building a Knowledge-based economy through creating jobs, driving innovation especially among youth and promoting the Kingdom as a regional startup hub. We are proud of the accomplishments of our portfolio and look forward to seeing them develop and prosper further.’
The Bahrain Seed Program is currently conducting its 7th Bootcamp where 17 startups are participating in an intensive 5 day training course designed to teach them lean startup principles and improve on their pitching techniques to investors. The bootcamp is part of the program’s selection process, which takes place after a rigorous screening and interviewing process.
Following the completion of the bootcamp, the selected founders will pitch before a selection committee and 8 startups will be chosen to receive a $32,000 investment among other perks such as mentoring, training, coaching, access to Flat6Labs’ regional network, support with follow-on funding and more. The 7th Cycle received over 250 applications from 50+ countries and with startups from several sectors.