Al Rumaihi: crucial development

Al Rumaihi: crucial development

Startup accelerator firm opens in Bahrain

August 2018

Flat6Labs, a regional startup accelerator programme and seed investment firm, has opened its Bahrain office, supported by Tamkeen, the kingdom’s labour fund.

The new premises, located on the 15th floor of the National Bank of Bahrain (NBB) towers, will serve as both a workspace to Flat6Lab’s entrepreneurs, as well as a hub for Bahrain’s startup ecosystem where developer group meetups and presentations will be held.

“The opening of our Bahrain office serves as a key destination for bringing together partners from across all fields to interact, support and assist in the evolution of startups. Our state of the art office space has been designed to encourage and facilitate interaction and productivity, giving startups the opportunity to work dynamically side by side with others,” said Ramez El-Serafy, CEO of Flat6Labs.

Tamkeen’s chief executive Dr Ebrahim Mohammed Janahi stressed the importance of supporting this initiative as new players in promoting Bahrain’s startup ecosystem.

“Tamkeen plays a vital role in boosting Bahrain’s startup ecosystem by providing solutions to the obstacles that are faced by startups. We are glad to have signed and funded the establishment with three international accelerators including Flat6Labs,”he said.

“We have witnessed the successful experience of Flat6Labs in many countries and we look forward to bringing the best practices to Bahrain and offer Bahraini entrepreneurs the maximum support possible,” Dr Janahi added.

Khalid Al Rumaihi, chief executive of the EDB, said: ‘As one of the notable accelerators in the Mena region, Flat6Labs’ official launch, in cooperation with Tamkeen will prove to be a key asset to the startup scene in the Kingdom.

“The launch will generate a host of opportunities for entrepreneurs to initiate and expand their operations in the region, and will position Bahrain as an ideal startup platform; a crucial development, since startups, today, are the driving force of our economy.’

Following its official launch and first call for applications earlier this year, Flat6Labs Bahrain has accepted eight startups after receiving over 150 applications from more than 30 countries for their inaugural cycle. The eight startups represent multiple sectors, including education, ecommerce, gaming, hospitality, healthcare, and more. The startups will each receive $30,000 in cash seed funding, along with a host of perks, and will embark on a 16-week mentorship-driven accelerator programme.

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