Business & Money | Sunday 6 November, 2016 11:20 am |

More than 40 MENA start-ups from Bahrain, Saudi Arabia, UAE, Kuwait, Morocco, Palestine, Egypt and Jordan are expected to pitch during the fifth Middle East North Africa (MENA) Angel Investors Summit 2016. The event will be held at the Ritz Carlton Hotel, Bahrain on 22nd and 23rd November 2016. 

Tenmou, Bahrain’s Business Angels Holding Company, responsible for building the first platform designed to empower new start-ups in the country, in strategic partnership with the Economic Development Board (EDB), is set to host the event.

The summit aims to provide a platform for exchanging best practices, facilitate conversation among similar angel investment organisations, and ultimately enable and inspire more investors to fuel greater innovative start-ups in the MENA region. Attendees will comprise start-ups from respected entrepreneurial programs, accelerators and angel investment organisations and are set to include high profile start-ups from Sirdab Lab, MIT Enterprise Forum Pan Arab, Flat6Labs, Oasis500, Gaza Sky Geeks and Tenmou to name a few. The summit will convene more than 300 attendees.

Commenting on the announcement, Hasan Haider, CEO of Tenmou said: “We, at Tenmou, are committed to continuously positioning Bahrain as the start-up and entrepreneurial hub for the MENA region and highlight the innovative high-growth potential available here. Through our partnership with the EDB, we will be able to further highlight Bahrain’s robust investment climate to key investors via the summit as well as showcase the dynamic start-up culture the kingdom has to offer.”

“Due to the success achieved at the summit during the previous years and the continued growth of local and regional start-up ventures, we are confident that this year’s edition will show even greater success. The summit allows the best opportunity both to connect with most prominent angel investors and high potential entrepreneurs as well as showcase local and regional start-up talent.”

Last year’s summit witnessed notable advancement in the region’s start-ups.  More than US$ 4 million worth of investment deals triggered, 40 regional high-growth and high potential start-up presentations, with more than four regional and two international cooperation agreements made. Over 300 guests attended the summit last year. 

Khalid Al Rumaihi, Chief Executive at the EDB, said:

“Bahrain provides an ideal testing ground for local and regional start-ups looking to enter or grow within the GCC, and providing the right type of funding to help businesses expand is vital part of that. We are proud to work alongside Tenmou in strengthening the Kingdom as an entrepreneurial hub for the MENA region.

“Bahrain’s SME development model is endorsed by UNIDO as the best in the world, and we are delighted to host this summit to exchange best practice, facilitate conversation, and showcase start-ups to investors here in Bahrain.”

Launched in 2011, Tenmou aims to support entrepreneurs with valuable business assistance, including financial investment, mentorship, advice and guidance. Tenmou recognizes that for many entrepreneurs, mentorship programmes can be as valuable as financial investments. Each project receives practical advice and training from the company’s board members, who bring with them a wealth of business experience.  These training sessions expose the entrepreneurs to real business situations and are conducted in the form of workshops, on a regular basis. 

Established with a start-up capital of BD1 million (US$2.7 million),Tenmou invests an average of BD20,000 – BD30,000 for a stake of on average 20% - 30% in each project that meets its criteria, and will provide a three-month mentorship period, including support services, at no cost to the entrepreneurs.