– Announcing an annual competition for students of the College of Business Administration at the University of Bahrain for entrepreneurship and establishing startup companies in partnership with the Tamkeen Labor Fund.
Sheikh Salman bin Khalifa Al Khalifa, Minister of Finance and National Economy, Chairman of the Board of Directors of Bahrain Mumtalakat Holding Company “Mumtalakat”, affirmed the Kingdom of Bahrain’s keenness to support youth entrepreneurial initiatives and projects as they are a fundamental pillar in the process of economic development. His Excellency pointed to the rapid growth the Kingdom is witnessing in the entrepreneurship system, and the qualitative results it is achieving thanks to the care and attention it receives from His Majesty King Hamad. Bin Isa Al Khalifa, the Majestic King of the country, and the government’s keenness to implement the directives of His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, which aim to continue advancing economic development and creating more qualitative opportunities for citizens.
He pointed out that the “Startup Bahrain Weekend” initiative is one of the successful national models in encouraging Bahraini youth to be creative and innovative and to transform their ideas into entrepreneurial projects that contribute to advancing economic growth and enhancing the Kingdom’s competitiveness on the regional and global entrepreneurship map. His Excellency pointed out that startups represent one of the most important engines of the global economy, and that these companies are expected to contribute to creating more than 14% of jobs around the world during the next five years, making them a major contributor to global economic growth. He added that startups play a pivotal role in promoting innovation through increasing reliance on artificial intelligence and digital solutions, which makes them an essential element in building economies. the future.
The Minister also praised the prominent role played by the Labor Fund (Tamkeen), headed by His Highness Sheikh Isa bin Salman bin Hamad Al Khalifa, Minister of the Prime Minister’s Court and Chairman of the Board of Trustees of the Labor Fund, in supporting specific programs aimed at enhancing national competencies and entrepreneurship, and effectively contributing to building an economy based on innovation and knowledge.
The Minister of Finance and National Economy pointed to the government’s role in providing a stimulating environment for the growth of entrepreneurial ideas by facilitating access to financing and simplifying regulatory procedures. He explained that the Kingdom of Bahrain is ranked among the most prominent startup ecosystems in the Middle East and North Africa region, according to the Global Startup Environment Report, calling for celebrating the Bahraini entrepreneurial community for the courage it embodies in creating job opportunities today, innovating for tomorrow’s future, and enhancing the flexibility of the national economy.
This came during the presence, in the presence of a number of Their Excellencies ministers and officials, of the activities of the fifth edition of “Startup Bahrain Weekend”, which was organized by the “Startup Bahrain” initiative – the national platform for startups in the Kingdom and supported by “Tamkeen” at the American University of Bahrain (AUBH), with the participation of more than 200 entrepreneurs, developers, designers and marketers, where it was announced that the (As-humi) team won Team (Echelon) won second place, Team Bestook won third place, while Team (Salesfy) won the “Doo” Choice Award and Team (Gymna) won the “Nine Dots Choice” award.
During the event, it was announced the launch of an annual competition for students of the College of Business Administration at the University of Bahrain in partnership with the Labor Fund “Tamkeen”, which was announced by Dr. Muhammad bin Mubarak Juma, Minister of Education, Chairman of the Board of Trustees of the University of Bahrain, in order to stimulate the spirit of creativity and innovation, encourage graduates of the University of Bahrain, support them to establish companies, create promising economic opportunities, and contribute to the development of the national economy.
This event was demonstrated in cooperation with local and regional partners, including: Brink, General Assembly Bahrain, Rebot Coding Institute, Spring Venture Services, Ordable, Nine Dots, Unipal, the American University of Bahrain, and Duo.
The program extended over 54 hours, during which participants witnessed intensive sessions under the supervision of more than 20 experts from leading institutions and companies in the Kingdom. Mr. Ali Al-Alawi, founder of Unipal, also gave the keynote speech for the event, in which he stressed the importance of these initiatives as a stimulating platform for transforming creative ideas into realistic projects with a sustainable economic impact.
For her part, Salma Hawari, Director of the “Investcorp Innovation Lab” at the American University of Bahrain, explained that the “Startup Bahrain Weekend” event represents an ideal platform to support promising teams, noting that cooperation with “Startup Bahrain” enables the winning teams to join directly in the Innovation Lab incubator program, which provides guidance according to the Massachusetts Institute of Technology (MIT) methodology and pathways. For joint experiences with companies to reach investment readiness.
