Start-ups to flourish next year

Manama : 2017 will provide a suitable environment for all start ups to grow and flourish in the Kingdom, according to a senior official of Bahrain Economic Development Board. 

EDB Managing Director Simon Galpin told DT news that a new strategy is being envisioned to revitalise the start up scene in Bahrain.

“We have a new branding for the start ups, which is something that the whole community can use and promote. 2017 is going to be really exciting. We want to have more events where the community can get together,” Galpin said. 

He added that more promotions would be done outside Bahrain where potential investors in the Kingdom would be taken overseas to promote themselves more effectively at big start up events.  

“More events, initiatives and programmes could be held next year as Bahrain Economic Development Board looks to strengthen and promote start ups in Bahrain. EDB has started implementing a new brand named ‘Startup Bahrain’ to compliment the strategy,”  he said.

“We want to grow the number of investors here by persuading high net worth individuals to invest in start ups. We will also look to work with universities as well to create that spirit of entrepreneurship within the youth, so we have lots to do,” he added.

He said that encouraging start ups in FinTech will be on the agenda.

“There are a number of different startup verticals that we are looking at. FinTech of course offers a great potential here. And we would like to work with CBB to develop a sandbox type concept,” he said.