The Labour Fund “Tamkeen” announced its support for the StartUp Bahrain initiative which is a platform dedicated for startups in the Kingdom of Bahrain. This comes as part of its efforts to support the entrepreneurship ecosystem through promoting Bahraini startups and attracting investment that contributes to economic growth and sustainability.
The StartUp Bahrain initiative is one of the most prominent community initiatives launched in 2013 by stakeholders within the ecosystem, including: government, startups, private sector companies, investors, entrepreneurs, and educational institutions, as well as several business incubators with the aim of fostering an environment that supports and stimulates entrepreneurship. The platform organized events, workshops, and initiatives that brought entrepreneurs together to exchange knowledge and expertise.
To build on its momentum from the previous years, StartUp Bahrain aspires to establish an official platform that brings together emerging Bahraini startups and enterprises looking to expand in the Kingdom by providing the required services, facilities, programs and initiatives that contribute to the growth and expansion of these enterprises locally and internationally.
The platform aims to attract more than 350 startups and facilitate the necessary support, thus contributing to the creation of high value sustainable jobs for local talent in high potential sectors whilst providing the required training to achieve this objective.
On this occasion, Ms. Maha Mofeez, Acting Chief Executive of Tamkeen, stated: “We strive to foster the entrepreneurship ecosystem especially for startups in the Kingdom, as it is the source of innovative ideas which position Bahrain as a leading hub in the region.” She went on to add: “Supporting startups encourages local talent to transform their entrepreneurial ideas into successful business ventures which have a positive impact on the national economy.”
In addition, Mr. Bader Kamal, Managing Partner at StartUp Bahrain, emphasized the importance of this partnership with Tamkeen to support the platform. He stated: “We are eager about this fruitful partnership with Tamkeen during an important phase of StartUp Bahrain, as we aspire to seek greater economic impact on the national economy by linking the relevant partners in the ecosystem through a unified platform that brings together supporters and stakeholders within the startup ecosystem, thus facilitating its growth and attracting startups to join the initiative.”
Since its establishment, Tamkeen has supported more than 19,000 entrepreneurs to launch their new business ventures, fostering a thriving ecosystem for startups in the Kingdom. In addition, partnerships have also been established with several financial institutions to offer financing plans, supporting more than 7,000 small and micro enterprises.
Furthermore, Tamkeen recently launched a program titled “Financial and Management Training for Entrepreneurs” in partnership with the Bahrain Institute of Banking and Finance (BIBF) which aims to provide management and finance training for entrepreneurs in the Kingdom of Bahrain to help them develop effective and efficient strategic and financial plans.
This initiative provides entrepreneurs with the materials required to address the key challenges that affect long-term success, which may not be necessarily related to rapid market changes or technical difficulties.