Manama, Nov. 20 (BNA): Bahrain’s strategic focus on developing the startup and SME ecosystem positions the Kingdom as a potential global hub for entrepreneurship and innovation, said Baybars Altuntas, Executive Chairman of the World Business Angels Investment Forum (WBAF).
Speaking to Bahrain News Agency (BNA) on the sidelines of the WBAF 2024, Altuntas highlighted Bahrain’s potential to become the “Davos for the startup economy.” He cited the participation of 44 nations in the forum as a testament to Bahrain’s growing influence in the global entrepreneurial landscape.
“Today, we have representatives from 44 countries spanning East to West, including the Americas, Hong Kong, and Asia. Over 30 countries are showcasing startups at the global fundraising stage. Entrepreneurs, policymakers, investors, and ambassadors are all coming together in Bahrain to share a unified vision for a better future. I clearly see Bahrain on its way to becoming a global leader in the startup economy,” Altuntas said.
He stressed the importance of easing access to finance to foster innovation. “Innovation thrives on new ideas, and Bahrain’s talented young population is a significant advantage in this regard. Additionally, Bahrain’s geostrategic position in the Gulf makes it a gateway to the Middle East and Africa,” he added.
Altuntas commended Bahrain’s leadership for its commitment to entrepreneurship and innovation, noting the participation of five ministers in the congress and the patronage of His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister. “This high-level support underscores Bahrain’s dedication to fostering a thriving startup economy,” he said.
He also emphasised that Bahrain’s supportive ecosystem extends beyond local entrepreneurs, making it an ideal hub for global entrepreneurs and investors.
“The WBAF 2024 in Bahrain can serve as a catalyst to position the country as the startup economy capital of the region. This vision is highly achievable,” Altuntas concluded.
