Press Release.
The Labour Fund “Tamkeen” announced its launch for various support programs targeted at the creative industries sector through an event that was attended by a number of experts in the field and representatives of several creative hubs. The support included partnerships with creative hubs, as well as providing multiple tracks for the creative industries sector within Tamkeen’s various support programs. This initiative comes in line with national priorities and the economic recovery plan aimed at developing key economic sectors.
Through this initiative, Tamkeen will support two main areas- the first area is focused on funding opportunities for enterprises and individuals in the creative industries sector who are looking to design prototypes, in addition to providing tailored support solutions that cater for the needs of the subsectors and meet their training and employment requirements. Moreover, creatives will be supported to pursue opportunities to commercialize their products and take them to regional and international markets. Tamkeen will support creative enterprises through the enterprise support and human capital development programs subject to the terms and conditions of these programs, and the support will cover three main categories: creative enterprises, creative projects, and innovation centers.
The second area of support is through partnerships with several creative hubs who will be incubators and accelerators for creative enterprises and individuals across various subsectors to help them grow and expand their creative businesses. The hubs include game development and e-sports in partnership with D11 Games, the visual arts sector in partnership with Al Riwaq art space and the Bahrain International Federation of Business and Professional Women, and the fashion design field in partnership with +973 Artisanat as well as the Collective Hub for digital media.
On this occasion, Her Excellency Ms. Maha Mofeez, Chief Executive at the Labour Fund “Tamkeen” commented: “Tamkeen continues its commitment to driving economic development through supporting all sectors and incentivizing key economic sectors such as the creative industries sector, for the vital role it plays in upskilling Bahrain’s talented workforce and enabling creative and innovative concepts that are competitive on a local and international level to emerge from Bahrain.” She added “Through this initiative we aim to facilitate the access of individuals and enterprises to global markets, which paves the way for successful investment opportunities and positions the Kingdom of Bahrain as an innovation hub.”
The Kingdom of Bahrain’s interest in supporting the creative industries stems from the sectors’ increasing importance globally, as it showcases the Bahraini talent skills and innovation capabilities in various fields. In addition, this highlights the Kingdom of Bahrain’s leading position to the rest of the world. Studies have shown that this growing sector contributes up to 7% of national GDPs around the world. The support will contribute to creating an ecosystem that fosters creativity and innovation, and directs local talent energies into profitable business ventures, thus, increasing successful investment opportunities both regionally and globally.
During the past year, Tamkeen supported approximately 4.1K enterprises across different sectors and growth stages through its various support programs, with 71% of enterprises supported to train and employ national talent. Tamkeen also worked proactively to attract applications from high potential businesses which led to an increase of 21% in quality job opportunities supported, therefore providing over 10K job opportunities and 8.4K training opportunities for Bahrainis to facilitate participation in the labor market.
This initiative is in line with Tamkeen’s strategic objectives for the year which focus on four key priorities: facilitating the increased economic participation of Bahrainis, providing training that is aligned with the labor market needs in new and emerging skills, as well as enterprise and ecosystem development, all of which drive positive economic impact and sustainable growth.
