MANAMA: Bahrain has long been at the centre of entrepreneurship, with its highly skilled workforce and ease of doing business, according to a Minister.
“This annual event has further reinforced Bahrain’s position on the map as the regional centre for entrepreneurship and Angel Investing,” Kamal bin Ahmed, Minister of Transportation and Acting CE of the Economic Development Board (EDB), told the angel investors’ meet which concluded on Monday.
Potential investors from Silicon Valley, the UK, Finland, France, Jordan and other countries discussed collaboration with start-ups from Bahrain and the MENA region.
Tenmou, Bahrain’s first ‘Business Angels’ organisation, opened the inaugural MENA Angel Investors Summit in a fast-paced and exciting agenda, more than 100 participants heard opening remarks from
The spoke to more than 25 Angel Investors and 50 entrepreneurs from Bahrain, the Middle East, North Africa, Europe and the US’ Silicon Valley about the importance of small and medium enterprises (SMEs) to global economies. He encouraged participants to use the opportunity offered by the Summit to present their ideas and creations to benefit Bahrain and the region.
Keynote speaker Dave McClure from ‘500 Startups’ in Silicon Valley, shared his experience in matching start-up companies with investors in the US and beyond. The international investors then provided the participants with an overview of what makes start-ups successful, before watching the early stage companies present their ideas to attract investment.
There was a lively panel discussion on the Way Forward for the MENA Angel Investment scene, which was followed by a tour of Bahrain’s cultural treasures. A dinner was later hosted for participants by the Bahrain Chamber of Commerce and Industry.
A number of meetings have also been organised for participants, to familiarise them with opportunities available in Bahrain. According to Sami Jalal, Chairman of Tenmou, the concept of angel investing offers an excellent platform for regional and international investors to connect with high-potential innovative entrepreneurs from the region, to share their experience and develop their investment portfolios.
“We are very excited to see such a large number of investors and entrepreneurs here. We would like to thank the EDB for their support, and look forward to attracting even more investment into Bahrain and the region at next year’s Summit”, he said.
Launched in 2011, Tenmou aims to support entrepreneurs with valuable business assistance, including financial investment, mentorship, advice and guidance. Tenmou recognizes that for many entrepreneurs, mentorship programmes can be as valuable as financial investments. Each project receives practical advice and training from the company’s board members, who bring with them a wealth of business experience. These training sessions expose the entrepreneurs to real business situations and are conducted in the form of workshops, on a regular basis.
Established with a start-up capital of BD1 million (US$2.7 million),Tenmou invests an average of BD20,000 (US$53,000) for a stake of on average 20% in each project that meets its criteria, and will provide a three-month mentorship period, including support services, at no cost to the entrepreneurs.