Bahrain Development Bank (BDB) hopes to promote entrepreneurial spirit by investing in six to eight startups annually through the Seed Fuel Rowad Program. The program aims to empower entrepreneurs in Bahrain by supporting innovative and promising startups.
Sanjeev Paul, Group CEO of Bahrain Development Bank explained that around six to eight startups would receive funding of up to BD 25,000 from the program along with intense and extremely useful coaching and mentoring sessions. “It is too early to give an exact success rate, but we believe through our intense coaching, mentoring and monitoring that we will hopefully be able to achieve great success. In 2017, we invested in six startups with a total investment of BD 150,000. In 2018, we just completed one investment and have several others in the pipeline,” Paul said.
The Seed Rowad Program is a platform designed to aid and empower entrepreneurs with their startups, beginning all the way from idea inception to maturity. “For Seed Fuel Rowad we are just within the second year of the funding program and are happy to say that two out of the six have already received further seed funding.” the CEO said.
So, if you’ve got a startup that needs that extra push, why not apply to the program? You will surely not be dissapointed.