Startup MGZN

Bahrain hosts its 6th annual MENA Angel Investors Summit

The first Bahraini ”Business Angels” organization, Tenmou, along with the Bahrain’s Economic Development Board, has successfully launched its sixth edition of the annual MENA Angel Investors Summit on October 5 at the Ritz-Carlton Hotel in Manama.

The event brought together over 30 MENA startups from the whole region, including Saudi Arabia, UAE, Kuwait, Morocco, Jordan, Egypt, and Palestine. They presented their business ideas, exchanged thoughts and established network contacts. More than 200 visitors came to the event. Most of them were venture capitalists, angel investors, journalists, as well as representatives of the Bahrain government and Bahrain’s startup associations.

Part of the program included tour visits of the MENA startups at the Labor Fund Tamkeen, the startup incubators CH9, C5 Capital, Bring and Rowad. The organizers aimed to showcase Bahrain’s best practices in nurturing a thriving startup ecosystem. In addition to that, the Bahrain Economic Development Board, and Tenmou invited the guests to expand their startup operations in the Kingdom.

H.E. Khalid Al Rumaihi, Chief Executive of the Bahrain Economic Development Board, highlighted the country’s favorable geographical location at the heart of GCC. He also stated the government has been working hard to establish the startup community and to develop new funding procedures.

A Tenmou representative added they were proud to be part of the establishment of Bahrain as a leading entrepreneurial hub in the MENA region. The sixth edition of the MENA Angel Investor Summit showed once again the investment potential of the Kingdom and its dynamic startup ecosystem.

Established in 2011 with a capital of US$ 2.7 million, Tenmou has been active in supporting young entrepreneurs with business advice, mentorship, and guidance. At Temnou, each approved business idea received tailor-made training, including financial investment mentorship from the company’s board members. During the sessions, the future entrepreneurs got exposed to real-life business situations and had to deal with them successfully. In addition to that, Temnou invests between BD20,000 – BD30,000 for a stake of on average 20% – 30% in each startup it incubates. It also provides a three-month mentorship period at no additional costs for the startups.

 

Startup MGZN