Tamkeen & Hambro ignite Bahrain’s innovation engine

TDT | Manama                                                     

The Daily Tribune – www.newsofbahrain.com

In a landmark collaboration, Tamkeen, Bahrain’s labour fund, and Hambro Perks, a leading international investment firm, have announced the launch of the Riyada Business Acceleration Program.

This strategic initiative aims to empower Bahraini entrepreneurs with the tools and resources needed to turn their innovative technology-driven projects into thriving businesses.

Riyada represents a threeyear commitment to nurturing 36 high-potential enterprises.

Participants will benefit from a tailor-made support system encompassing business incubation, acceleration, and comprehensive guidance.

From honing business development strategies to securing funding and building high-performing teams, the program will equip budding entrepreneurs with the critical skills and resources to navigate the early-stage gauntlet and propel their ventures towards success.

At the heart of Riyada lies a dedicated six-month support period for each participating startup.

Customized training programs, coupled with expert assistance in business and product development, will equip founders with the knowledge and practical tools to refine their offerings and solidify their market positioning.

Furthermore, the program acts as a bridge to potential investors, opening doors for startups to secure the financial backing necessary to propel their growth aspirations.

Innovation and quality job opportunities

“Tamkeen’s unwavering commitment to fostering innovation and creating quality job opportunities aligns perfectly with the launch of Riyada,” stated Her Excellency Ms. Maha Abdulhameed Mofeez, Chief Executive of Tamkeen.

“By joining forces with Hambro Perks, we are creating an integrated framework to nurture promising Bahraini enterprises, empowering them with the tools and resources needed to overcome challenges and pave the way for sustainable growth.”

Echoing this sentiment, Andrew Wyke, CEO and Founding Partner of Hambro Perks, emphasized the program’s potential to unlock local entrepreneurial potential: “Riyada will play a pivotal role in supporting emerging Bahraini enterprises and driving innovation across the country.

We are excited to collaborate with local startups and provide the guidance and expertise they need to achieve remarkable success.”

Hambro Perks, with its deep experience in backing breakthrough technology companies across the EMEA region, brings a wealth of expertise to the table.

Their team of seasoned investors, legal professionals, and financial experts will actively contribute to the development and growth of the startups enrolled in Riyada.

Unique, innovative business models

Open to Bahraini startups established within the past three years, the program welcomes applicants with active commercial registrations and unique, innovative business models poised for local and global impact. Startups without a commercial registration but possessing a product prototype and at least one Bahraini founder are also encouraged to apply.

Riyada aligns seamlessly with Tamkeen’s 2024 strategic priorities, focusing on bolstering the private sector and driving economic impact through three key pillars: expanding employment opportunities, enhancing career development for the Bahraini workforce, and nurturing enterprises to adopt technology and boost productivity.

With its focus on nurturing innovation and empowering Bahraini entrepreneurs, Riyada promises to be a catalyst for economic growth and prosperity in the kingdom.

This collaborative initiative marks a significant step forward in Bahrain’s journey to establish itself as a thriving hub for tech-driven entrepreneurship and a breeding ground for future business leaders.