The high-profile event was officially inaugurated by Sami Jalal, Chairman of Tenmou. In a fast-paced and exciting agenda, 45 dynamic fast-growth start-ups from Bahrain, Saudi Arabia, UAE, Lebanon, Morocco, Palestine, Egypt, and Jordan, presented their business pitches to the angel investors in attendance in hopes of procuring more funding to take their businesses to the next level.
The highlight of the summit was the launch of the region’s first networking association, the MENA Angel Investor Network (MAIN). Conceptualised by Hasan Haider, Chief Executive Officer of Tenmou, the association aims to provide a robust network which facilitates open dialogue between MENA Angel groups in the region and exchange of best practices between members, boost cooperation between groups on cross-border deals, and raise regional awareness related to angel investment.
“We are very excited to see that the number of angel investors to MENA Angel Investor Summit this year has doubled, which underlines the success and the tangible value the summit has provided to participants,” Sami Jalal, Chairman of Tenmou, said.
“This event is truly the first of its kind in the MENA region, which provides a rare and great opportunity for start-ups to pitch to a wide range of angels and seed Investors who are looking for entrepreneurs with innovative and great ideas. The formation of the MENA Angel Investor Network will further highlight the Tenmou’s initiative to establish Bahrain as the regional hub to support the entrepreneurship ecosystem in the region.”
“We would like to extend our sincere thanks to our strategic partners, the Economic Development Board for their support, and look forward to attracting even more investment into Bahrain,” he added.
“The Bahraini Government has been working hard to put in place the right environment for all businesses to thrive – not just large corporates. Events such as the MENA Angel Investor Summit provide the ideal platform to showcase the talent and high calibre of Bahraini companies to an international audience and enable them to access funding from a wide range of sources,” Khalid Al Rumaihi, Chief Executive at the EDB, said.
Following the pitch process, there were two panel discussions on the Way Forward for the MENA Angel Investment scene. A gala dinner was hosted by Tenmou and EDB for all participants, that evening. On the second day, a number of one-on-one meetings between angel investors and high-potential innovative entrepreneurs from the region, will be arranged to share their experience and develop their investment portfolios. In addition, as part of the agenda, led by the EDB, the visiting angel investors from the region will be given an insight into doing business in Bahrain.
“The MENA Angel Investor Summit is a flagship event for Angel Investor community in the MENA region. This year, to reinforce Tenmou’s vision and to further establishes Bahrain as the regional hub for entrepreneurs and angel investing, we announced the formation of the region’s first MENA Angel Investor Network (MAIN), an association headquartered in Bahrain, which will help its members to connect with a pool of experienced and successful angel investors to share best practises, and expert guidance in fund raising,” Hasan Haider, Chief Executive Officer of Tenmou, said.
Launched in 2011, Tenmou, aims at supporting 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.