Tenmou, Bahrain’s first ‘Business Angels’ organisation, opened the inaugural MENA Angel Investors Summit at the Ritz Carlton Hotel on 1st June 2014. In a fast-paced and exciting agenda, more than 100 participants heard opening remarks from His Excellency Kamal bin Ahmed, Minister of Transportation and Acting CE of the Economic Development Board (EDB), strategic partners of the event. His Excellency 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.
“Bahrain has long been at the centre of entrepreneurship, with its highly skilled workforce and ease of doing business. This annual event will further reinforce Bahrain’s position on the map as the regional centre for entrepreneurship and Angel Investing”, he said.
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.
A number of meetings have also been organized for participants, to familiarize 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. 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.