About 30 start-ups from the 15 different countries pitched their business concepts at the recently held fifth Mena Angel Investor Summit 2016 in Bahrain.

Organised by Tenmou, Bahrain’s first ‘Business Angels’ organization, in strategic partnership with the Bahrain Economic Development Board (EDB) the event aims to build a strong supportive and sustainable start-up ecosystem in Bahrain and increasingly grow the angel investment community in the Mena region.

The inaugural welcome note was presented by Hasan Haider, chief executive officer of Tenmou and the keynote address was presented by Dr Simon Galpin from EDB.

This year, world renowned venture capitalist and global innovation advisor of 500 Start-ups from Silicon Valley, Kamran Elahian was in attendance along with the most prominent regional and local angel investors. More than 300 venture capitalists, angel investors and dynamic entrepreneurs from respected entrepreneurial programs, accelerators, angel investment organisations and local media attended the event.

“Over the past many years, Tenmou and EDB have been a major moving-force to strategically develop the start-up ecosystem in Bahrain. Since the start of the Mena Angel Investors Summit in 2010, more than 1,000 regional and international investors have been able to connect with around 150 high-potential innovative entrepreneurs from the region resulting in approximately US$ 6 million investments,” said Haider.

“Today, we are proud to welcome world renowned venture capitalist, Kamran Elahian to this Summit. His in-depth knowledge in this industry and the valuable tips he has shared will help our start-ups. This year, we are confident that our line-up of promising start-ups will be able to collaborate with international and regional angel investors to further grow their businesses.”  

Elahian said: “It was a great opportunity to meet, interact and provide advice to more than 30 promising start-ups. There were two types of e-commerce products presented, the internet-based products and technology-driven products. Most of the start-up businesses had a competitive edge, with regional and global appeal.”

Vivian Jamal, executive director of Marketing and Communications at the Bahrain Economic Development Board (EDB) said: “Our participation in the fifth Mena Angel Investor Summit organised by Tenmou emphasises Bahrain’s position and support of entrepreneurs. The event showcased the continuous efforts by the Kingdom to raise awareness and encourage the right environment for start-ups to grow and thrive.

“A significant factor contributing to the success of entrepreneurs is the abundance of support and guidance on offer and the ability to access the capital needed to develop their businesses. This summit provided an effective platform for Bahraini entrepreneurs to discuss their experiences, their skills and their innovative visions before investors, in turn helping them to take their plans and their ambitions to the next stage.”

As part of the summit this year, there were two lively panel discussion sessions. The first session focused on international angel investing and the panellists were Hasan Haider, Kamran Elahian and Audra Shallal.

The second session focused on regional angel investor funding and the panellists were Chantalle Dumonceaux from WOMena and Faisal Hakki from Oasis 500. The discussions were based on the Way forward for the Mena Angel Investment scene on how to attract global investment to support and sustain start-ups in Bahrain and the Mena region.

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 ($2.7 million),Tenmou invests an average of BD20,000 – BD30,000 for a stake of on average 20 per cent - 30 per cent in each project that meets its criteria, and will provide a three-month mentorship period, including support services, at no cost to the entrepreneurs. – TradeArabia News Service