Just in case you haven’t heard the BIG news yet, the Bahrain Award for Entrepreneurship (BAE) is preparing for the fourth consecutive year. That means, for all you budding and established entrepreneurs in Bahrain, here comes yet another chance to celebrate yourself and your achievement in the Kingdom’s thriving business and startup ecosystem.
Held under the patronage of His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince, Deputy Supreme Commander and First Deputy Prime Minister, the Bahrain Award for Entrepreneurship is the most prestigious title in the Kingdom reserved for entrepreneurship excellence across industries and sectors.
By the time you’re reading this piece, you will have a fairly in-depth idea about what is the Bahrain Award for Entrepreneurship and what you, as an entrepreneur, can expect from it.
What is Bahrain Award for Entrepreneurship?
Each year, the award is organized by Tamkeen across several separate tracks. This year, the award will consist of the following categories:
- Micro-Enterprise of the Year: Open to Microenterprises and businesses with virtual registration.
- Start-Up of the Year: Open to all companies that have been operational for no more than 3 years as of Dec 31, 2019.
- SME of the Year: Open to any small or medium enterprises that have been in business for 36 months or less, has less than 250 employees and generates less than BD 5 million in revenues.
- Enterprise of the Year with International Footprint: Any business with international operations can apply for this award so long as the company is headquartered in Bahrain.
- Sustainability in Business Award: This is an open-to-all category including niche-specific social enterprises.
- Female Entrepreneur of the Year: Any female entrepreneur or professional can apply for this award so long as they are a business owner or a part of the founding team of a startup, or a Level-C executive in an established company.
- Lifetime Achievement Award: This award is reserved for only eminent entrepreneurs and business leaders in Bahrain who have contributed immensely to the Kingdom’s socio-economic progress. Applications are not needed.
When to apply
Tamkeen announced the opening of the application process on Sep 5 and eligible entrepreneurs can apply in their preferred category by Saturday, October 5, 2019. So don’t miss out on this opportunity and apply now! Additionally, you are also allowed to nominate a third party if they meet the eligibility criteria announced by Tamkeen.
The winners of the Bahrain Award for Entrepreneurship 2019 will be announced on a special awards ceremony to be held in November.
Why should you apply?
For starters, the Bahrain Award for Entrepreneurship is the most prestigious award in Bahrain’s startup and entrepreneurship ecosystem. It presents an excellent opportunity for you to make yourself visible at the highest level in the business community of not just in Bahrain, but across the broader region.
But that’s not all. The Bahrain Award for Entrepreneurship also brings along some really exciting prizes for winning entrepreneurs that can help them scale and grow their business efficiently.
All winning startups across all categories will receive a trophy each. Additionally, they will also get a chance to have dinner with a judge of their choice (not applicable for the Lifetime Achievement category).
Cash prizes will be distributed as follows:
- Micro-Enterprise of the Year: BHD 10,000
- Start-up of the Year: BHD 20,000
- SME of the Year: BHD 30,000
- Enterprise of the Year with International Footprint: BHD 40,000
- Sustainability in Business Award: BHD 30,000
- Female Entrepreneur of the Year: BHD 20,000
There will be other perks as well, such as membership and support from the UNIDO Entrepreneurship Development Programme, and so on.
So what are you waiting for? This is your perfect chance to celebrate yourself in Bahrain’s highest award for entrepreneurship. Apply now before October 5th!
If you have any questions regarding the application or evaluation process of Bahrain Award for Entrepreneurship 2019, don’t hesitate to reach out to Tamkeen through their social media platforms on Facebook, Twitter, Instagram, and LinkedIn.