As part of the continuing support of the local and startup eco-system Bahrain Development Bank (BDB) co-hosted a luncheon at the Capital Club for visiting members from the Business Families Institute (BFI) of Singapore for a GCC tour organized by Investcorp.
Investcorp organized a week-long tour for the BFI delegates across three GCC cities which started in Bahrain and included Abu Dhabi and Dubai. The purpose of this tour was to provide the BFI members an opportunity to interact with the local business community, experience the art & culture and be exposed to the various focus sectors of economy including startups and SMEs. The visit included meetings with business families, government stakeholders, and key organizations that support business and culture in Bahrain. The luncheon featured a panel discussion between two founders of Bahrain based startups that are part of the BDB Seed Fuel-Rowad program portfolio Hussain Haji, Inagrab and Amjad Puliyiali, Get Baqala and moderated by BDB’s Head of Development Services & Senior Vice President Areije Al Shakar.
The panel highlighted the journeys both founders took to start their businesses out of Bahrain. The startups also highlighted challenges and successes and the key support role that the funding they received from BDB’s Seed Fuel Rowad toward their current stage of success. The founders also highlighted the key elements that contribute to success which is access to talent, mentorship, and funding for startups within any eco-system, which they noted that Bahrain has successfully built with the support of BDB, Bahrain Economic Development Board, (EDB), Tamkeen, Ministry of Industry and Commerce (MOICT) and recently the Al Waha Venture Capital Fund of Funds.
BDB Group Chief Executive Officer Mr. Sanjeev Paul stated, “We are proud of our ongoing partnership with stakeholders to support entrepreneurs in the Kingdom of Bahrain.. It was a privilege to introduce Hussain and Amjad, promoters of our seed fuel investee companies to the visiting delegation from Singapore and SEA. We would like to thank Investcorp for giving us this opportunity and hope that this exchange of ideas will enrich the entrepreneurial ecosystem in both Bahrain and in SEA and hopefully pave the way for greater engagement with Singaporean and other SEA entrepreneurs.”
Investcorp Co-CEO Hazem Ben Gacem said: “Thanks to our presence in Singapore, we have developed close ties with BFI and given we have deep connections with the Bahraini financial institutions, including Bahrain Development Bank, because of our near 40-year presence in the kingdom, we were able to successfully link those two groups together.”
CAPTION: Seen at the luncheon, standing from left, are Mr. Ben Gacem and Investcorp Founder Savio Tung
Last Updated: 09 Jun 2021
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