Finance & Capital Market

Tenmou hosts Mena Angel Investors Summit

Tenmou, an initiative designed to support Bahraini entrepreneurs, hosted the 8th Annual Mena Angel Investors Summit with Bahrain’s labour fund Tamkeen as a strategic partner on November 18.

The Summit is one of the first official events of this year's Global Entrepreneurship Week held globally from the November 19 to 24.

Focusing on innovative technology solutions in the Mena region, the Summit showcased 30 high-potential startups; as part of Tenmou's continuous efforts to support the Startup ecosystem, facilitate better deal flow, and create more opportunities for business traction in the region.  

With over 300 attendees representing startups, local and regional investors, family offices, corporates, policymakers, and significant community partners from Accelerators and Incubators; the Summit built on the success it had last year, where over 86.7 per cent of the startups were connected to by potential investors.  

Dr Ebrahim Mohammed Janahi, chief executive of the Labour Fund Tamkeen said: "As part of Global Entrepreneurship Week, the Mena Summit demonstrates one of the potentials of the Kingdom’s dynamic startup ecosystem. This partnership comes in line with our aim to establish Bahrain as a leading entrepreneurial hub and a launchpad to the rest of the Mena region."

A key highlight of the event was Tenmou's announcement of two new investments; Akalati, an early-stage Bahrain based startups innovating in the catering and e-commerce business, and The Experience Accelerator an online training and coaching platform.  

Chief executive officer of Tenmou Nawaf Al Kooheji stated: "We are delighted to add Akalati and the Experience Accelerator to our portfolio and be part of their scaling-up journey. These investments are a testament to the collaborative ecosystem in Bahrain, and it further cements our close relationship with Flat6labs Bahrain that mentored these startups during their previous cohorts. We hope that the Summit continues to pave the way for more investments and more success stories that all our community partners and we can celebrate."

Ryaan Sharif, managing partner of Flat6Labs Bahrain said: “‘We are grateful for the support of Tenmou and our partnership has been showcased by their recent follow-on investment in two of our startups, Akalati and the Experience Accelerator, and potentially further follow-ons in the near future.

“Tenmou has been an integral partner to us and we are very happy to be taking this partnership to the next phase by officially signing an MoU to collaborate on investments, events, and strategic partnerships.”

Through their partnership, Flat6labs and Tenmou will be working strategically on organizing the next edition of the Mena Summit that will be held in November 2020. – TradeArabia News Service