Fifteen of the best seed stage startups in the GCC will make presentations at the “Seedstars GCC” event in order gain a slot in the annual Seedstars Summit – the entrepreneurship forum for emerging markets – and win up to $1 million in equity investment.

The Seedstars World team is coming to Manama, Bahrain, for the third time to hold a dynamic pitch event in the region on September 9, said a statement.

The companies selected to pitch at the event need to be less than two years old, have raised less than $500,000 in funding and have built a minimum viable product, ideally with existing traction, it said.   

The team, in its search, is also focused on the startup’s regional and global scalability. With a strong network of international partners such as BBVA, Merck, Enel, Trecc and Standard Bank, Seedstars World is looking for smart startups that solve regional issues and develop profitable products for the global market, to support their regional businesses and growth, it added.

Up to 15 of the best seed stage startups from Saudi Arabia, Bahrain and Oman will be invited to pitch for the opportunity to compete at the Seedstars Summit, that annually takes place in Switzerland, said a statement.

In order to provide local entrepreneurs with this opportunity and aiming to deliver the best possible event, Seedstars World is closely working with CH9, who is representing the initiative throughout the year.

CH9 is a business accelerator that envisions to enhance the entrepreneurship ecosystem in Bahrain and the GCC region by providing a platform that supports, teaches, encourages and inspires entrepreneurs to take the bold necessary steps to innovate, create and share prosperity in their respective countries.

Mohamed Altawash, founder and managing director of CH9, said: “The number of talented entrepreneurs in this region is phenomenal, and CH9 would like to help these entrepreneurs gain visibility in and out of this market.”

In Saudi Arabia, the Badir Program for Technology Incubators and Accelerators at King Abdulaziz City for Science and Technology (KACST) is at the forefront in providing support to technological startups, along with Endeavor Saudi Arabia, another non-profit organisation under the auspices of the Ministry of Commerce that is credited with pioneering the concept of high-impact entrepreneurship in emerging and growth markets around the world.

As a ‘local supporter’ in the Seedstars GCC event, Badir is encouraging its incubated companies to participate and notifying Saudi startups as well, it said.

The Seedstars GCC event is under the patronage of Zayed Bin Rashed Alzayani, the Minister of Industry, Commerce and Tourism, Bahrain.

In line with its mission to place the spotlight on entrepreneurs from emerging markets, Seedstars World is travelling to more than 80 countries this year to identify the best seed-stage entrepreneurs and provide them with an opportunity to win up to $1 million and network with investors and mentors from around the world. Its previous participants have raised over $61 million collectively, providing employment to more than 1,000 employees worldwide.

Katarina Szulenyiova, chief operating officer, at Seedstars World, said:  “Seedstars World is a platform connecting investors to the next generation of startup entrepreneurs, pulling the spotlight from Silicon Valley and Western Europe.”

“As this will be our third time to organise our event in Bahrain, our excitement level and expectations are high. We have heard so much about the bustling startup ecosystem in GCC and we are now here to witness the reality,” she said.

“We are impressed by what we have seen in the continent so far and cannot wait to add startups from GCC on our map,” she added.

Seedstars Summit 2018 will be held in Lausanne, Switzerland on April 12, 2018.

Seedstars is a Swiss-based group of companies which has the goal of impacting people’s lives in emerging markets through technology and entrepreneurship. Seedstars connects stakeholders within these ecosystems, builds companies from scratch with public and private partners and invests in high growth startups. – TradeArabia News Service