StartUp Bahrain, the leading startup ecosystem platform in the Kingdom, held its first pitching event as part of the StartUp Bahrain Pitch series.
The event was held in collaboration with the Industry and Commerce Ministry, the Labour Fund (Tamkeen), the Economic Development Board, and Bahrain Development Bank.
Seven local startups pitched their concepts to a panel of judges in the presence of investors and ecosystem leaders for potential investment opportunities and a grand prize for the first-place winner.
Bahrain is home to a rich startup ecosystem and is the ideal launchpad for businesses to start and expand locally and regionally.
The Kingdom prioritized fostering entrepreneurship and providing support for startups across various stages of their growth journey.
Access to finance was at the front and center as it is a key element in the development and growth of startups.
Several key stakeholders in Bahrain’s ecosystem came together to launch the StartUp Bahrain Pitch initiative to provide a platform for Bahraini startups to connect with investors and secure funding.
Tamkeen’s Executive Director of Programs and Partnership Development Ali Hasan emphasized the company’s commitment to empowering the startup ecosystem in Bahrain through tailored support programs and initiatives.
“We made it a priority to tackle one of the key obstacles to startups’ growth, which is access to funding and finance. StartUp Bahrain Pitch allows entrepreneurs at the same stage of development to pitch in front of a panel of local and international investors to secure the funding necessary for them to grow and expand,” he said.
“Startups need funding to hire the talent they require, expand their operations to new segments and markets, develop new services and products, and innovate, all of which can lead to a positive impact across the national economy.”
The startups pitched technology-based concepts that provided innovative solutions within various sectors, such as tourism, real estate, education, gaming, creative industries, and more.
The concepts were well-received by the judges who commended the startups on their efforts and following a thorough judging process announced the winner, Fablemill, an award-winning boutique production house, and advisory firm focused on amplifying stories from the Arab world.
Winner Eman AlSabah, Founder of Fablemill, expressed gratitude to the various stakeholders involved in organizing this initiative and discussed plans for growing Fablemill.
“We are proud to have won the first edition of the StartUp Bahrain Pitch competition. Fablemill has ambitious plans ahead to continue developing Arab stories which reflect local heritage, traditions, and mythology while also amplifying female voices and empowering local creative talent,” she said.
“Events like the pitch competition bring us closer to developing our project pipeline, and we are tremendously grateful for the support and guidance provided by Tamkeen, the Economic Development Board, Bahrain Development Bank, and the wider StartUp Bahrain community.”
Source: Bahrain News Agency