– Over US $100,000 awarded to innovative startups through hackathons and bootcamps –
– Notable launches included Flat6Labs Bahrain, the accelerator’s first Bahrain programme –
11 March 2018, Manama, Bahrain: Startup Week Bahrain concluded this weekend at Bahrain International Circuit following a series of events, bringing together more than 2,500 members of the regional and global startup ecosystem to help enable innovation and entrepreneurship.
The community-led initiative was held under the patronage of His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince Deputy Supreme Commander and Chairman of the Economic Development board (EDB), and was supported by the Bahrain Economic Development Board (EDB) and Tamkeen, the Kingdom’s Labour Fund.
H.E. Mr. Khalid Al Rumaihi, Chief Executive of the EDB, commented: “Entrepreneurship has a major role to play in accelerating diversification, encouraging growth and creating valuable jobs. As this week has highlighted, Bahrain has strong fundamentals already in place and as a result the number of startups in the Kingdom has grown 46% over the past three years,
Bringing together the brightest minds from across our region and globally is essential in finding new ways to collaborate and map a bright future for our region’s young innovators.”
During the week, more than 50 speakers from government, private sector, investors and startups, led discussions and workshops across six events. They explored the achievements and future potential of Bahrain’s burgeoning startup scene, which is underpinned by pro-business regulation, technology-centric infrastructure, and a strong talent pool. The importance of access, funding and cross-border collaboration were identified as key elements in supporting continued growth across the region.
Dr. Ebrahim Janahi, Chief Executive of Tamkeen, added, “The question of how to unlock the potential of young and entrepreneurial populations has been a central theme of Startup Week Bahrain. It has been inspiring to see many promising startups come together with investors and private sector players to share, collaborate and learn. These principles are at the heart of Tamkeen’s commitment to support emerging companies in Bahrain through resources, training and access to funding.”
Over US $100,000 was awarded to startups through hackathons and pitch competitions during Startup Bahrain Week. Winners included Saudi startup Morph who came out top at the 48-hour Game Jam at the first GCC Game Conference organized by Infiniteware in collaboration with Bahrain Polytechnic. At unbound Bahrain, PaySync was victorious at American Express Middle East’s Hack @ the Track Hackathon, and Widebot and Inagrab won the fiercely competitive Face-Off on the Track competition in the Seed Startup and Scale up Startup categories respectively, judged by accelerators C5 and Brinc. In addition, 20 startups participated in an intensive bootcamp by CH9 and YoStartups, while seven startups pitched to an audience of investors at the region’s first Thinkers and Doers event: Follow the Leader.
Startup Bahrain Week also saw the announcement of a notable new entrant into Bahrain’s startup ecosystem, with the launch of Flat6Labs Bahrain. The leading regional accelerator has partnered with Tamkeen to develop a programme leveraging the unique strengths of the Kingdom and is the latest in a fast-growing network of incubators and accelerators to be attracted to Bahrain. The programme is expected to accelerate at least 40 startups in the next three years, using Bahrain as a testbed and launchpad to access news markets.
– Ends –
Notes to editors
About the Bahrain Economic Development Board
The Bahrain Economic Development Board (EDB) is an investment promotion agency with overall responsibility for attracting investment into the Kingdom and supporting initiatives that enhance the investment climate.
The EDB works with the government and both current and prospective investors to ensure that Bahrain’s investment climate is attractive, to communicate the key strengths, and to identify where opportunities exist for further economic growth through investment.
The EDB focuses on several economic sectors that capitalise on Bahrain’s competitive advantages. These sectors include financial services, manufacturing, ICT, tourism, logistics and transport.