Entrepreneurship has many facets to it and given the rise in student entrepreneurship and the startup ecosystem creating community events that cater to supporting and highlighting the youthful entrepreneurial spirit, we were ever so curious to see what students and student entrepreneurs really think about entrepreneurship in the Kingdom! Here’s a glimpse into what we learned from a few Bahrain Polytechnic students.
Supportive Regulatory Framework
“Bahrain is one of the most supportive countries in the region when it comes to enabling the startup ecosystem through the regulatory framework,” affirmed Reema Abdulla, a Marketing Associate Consultant. The ease of setting up a business and the government’s initiatives to foster entrepreneurship have created a favorable environment for startups to flourish.
The Power of Networking
According to Reema’s graduation research on the startup ecosystem in Bahrain and the region, she concluded, “The way the social life is structured in Bahrain and the region, networking and making connections is at the core of doing business.” Building relationships and leveraging networks play a crucial role in the success of startups, and Bahrain’s close-knit community fosters collaboration and opens doors for valuable partnerships and opportunities at every turn. Keep a close eye on our Events page for upcoming networking opportunities. #WeGotYourBack
A Gateway for Testing and Expansion
One standout feature of Bahrain’s ecosystem is its role as a testing ground for investors and startups. Hasan Mohamed, another Marketing Associate Consultant, shared, “Bahrain remains the ultimate testing ground for investors and startups. Bahrain’s ecosystem is truly one of the richest in terms of talent, passion, and potential.” And he’s right! The Kingdom is a gateway with its friendly regulation, making it the perfect testing hub before expanding to other countries in the region. The startup-friendly community allows entrepreneurs to refine their business models and gain traction before venturing into larger markets.
Prioritizing Market Fit Over Funding
While funding is often a concern for entrepreneurs, our discussions with the students revealed that feeding into the business plan and addressing market gaps or problems should be the primary focus. Reema emphasized, “Funding will come when there is faith in the plan.” By prioritizing market fit, entrepreneurs can increase their chances of attracting investment and securing the resources they need to scale their ventures.
Thriving Ecosystem and Opportunities
Yara Ali, Co-founder of Academity, expressed her enthusiasm, saying, “As a fellow startup Co-Founder, I discovered the supportive and progressive community in Bahrain that not only welcomed, but also encouraged innovation, creating opportunities for our entrepreneurial growth.” The Bahraini ecosystem fosters an environment conducive to innovation, and Sara Albanna, Founder of Upcycled, agrees. “As a startup founder in Bahrain, I strongly believe that the ecosystem for startups here is incredibly engaging, supportive, and opportunity driven. Overall, Bahrain’s startup ecosystem is well-positioned to continue growing and thriving in the years to come.”
The student entrepreneurs demonstrate that age and “lack” of extensive experience is not a barrier to understanding innovation and seeking success. It’s well to remember that the world needs more young entrepreneurs taking bold steps and shaping the future with their innovative ideas and promising enthusiasm. With the right mindset and support, student entrepreneurship is the first step into a world full of bright opportunities that could change the world as we know it.