In a recent speech at the bicameral parliament sessions on Sunday, His Majesty King Hamad Bin Isa Al Khalifa, the beloved King of Bahrain, may God protect him, has issued decree 64 of the year 2020 that sets up the ‘Hope Fund’, a fund dedicated specifically to invest in and support the country’s youth, their entrepreneurial endeavors, and initiatives.
His Majesty the King’s Representative for Humanitarian Works and Youth Affairs, National Security Advisor and Supreme Council for Youth and Sports Affairs (SCYS) Chairman His Highness Shaikh Nasser bin Hamad Al-Khalifa will supervise the fund and its establishment, as the Royal Decree states.
The fund marks the beginning of an exciting era for the country that further enforce the role and inclusion of youths, while believing in their capabilities. One entity that’s been a pioneer of investment, as well as big on youth support, is Bahrain’s Business Angels Company ‘Tenmou’, which commended the contents of the speech of His Majesty, with a special emphasis on the ‘Hope Fund.’
Nawaf Al-Koheji, CEO of Tenmou, has praised the initiative by sharing: “We would like to commend His Majesty King Hamad Bin Isa Al Khalifa for this generous and revolutionary gesture. The youth of today and tomorrow are forever grateful for all the support and encouragement that is provided under the guidance of His Highness Shaikh Nasser bin Hamad Al Khalifa. This fund will create a platform for Bahraini youth to compete in the international market and create Bahraini Unicorns and success stories.”
Tenmou has continuously worked on creating more funding opportunities through working with other ecosystem builders and providing guidance and facilitating deals for new Angel Investors.
Apart from being the first local angel investment company, it’s worthy to note that Tenmou’s collaboration with 500 Startups MENA to create The Collective Hub, a Bahraini incubator and co-working space, is credited partially to their belief in youth; and out of their aspiration to help in creating better opportunities for them.
Tenmou is looking forward to support this instrumental process of helping the youth discover their true entrepreneurial potential, which in return contributes to the country’s economic growth. Furthermore, Tenmou is offering all its services in providing financing options and mentorship to emerging and small enterprises to be one of the tributaries of the implementation of the fund’s plan.