Heba Mohsen
The founder and administrative partner of the company “Builders Benin”, Khaled Saad, confirmed that startups working in the technology sector play a pivotal role in leading the economic transformation and accelerating digital integration between the Gulf Cooperation Council countries, by providing innovative solutions that keep pace with global developments in the digital economy.
This came during his participation in one of the sessions of the Bahrain -Emirati Business Forum, where he indicated that the support of these companies exceeds financing, to include the appropriate legislative environment, experimental spaces (Sandboxes), and facilitating regional expansion, especially in the Emirates and Saudi Arabia.
Saad explained that his company, which includes Bahraini and Saudi investors, launched a capital of $ 15 million from its headquarters in the Abu Dhabi Global Market, and focused on investing in sectors with a high economic impact such as financial technology, regulatory technology, retail technology, and artificial intelligence.
He pointed out that “Banners of Fenchs” is currently investing in three Bahraini companies that expanded to the UAE and Saudi Arabia, and adopts the “Venture Building” model that accompanies the founders from the idea to expansion.
He stressed that the support of startups requires an effective partnership between the public and private sectors, stressing that the future of the region’s economies depends on technology and innovation, and said: “We are not only building companies, but we build future economies.”
