The startup powerhouse launches its 6th chapter in Bahrain, where they will select 7 startups per acceleration cycle, twice per year.
Setting off to support and invest in more than 40 startups and entrepreneurs over the next three years, Flat6Labs has just announced the launch of Flat6Labs Bahrain, the sixth and latest addition to its portfolio of startup accelerator programmes in the MENA region, created in partnership with Tamkeen. The announcement came at Startup Bahrain Week, organized last wee by the Economic Development Board (EDB).
Through its newly established programme, Flat6Labs Bahrain aims to foster a dynamic and sustainable entrepreneurship environment and investment vehicle, support job creation, alleviate the pressure of the public sector and help position Bahrain as an innovation leader in the Arabian Gulf region and MENA at large. Flat6Labs aims to utilise its expansive regional network to attract innovative founders from Bahrain, the region and beyond to provide the Bahraini innovation economy and venture capital industry with a steady pipeline of high-impact entrepreneurs with well-developed concepts and a thorough business training.
The accelerator is the sixth in the MENA region, after the Cairo office expanded to Tunis, Abu Dhabi, Jeddah, and Beirut - where they have just announced the graduation of its first cycle of 10 startups. “It is such an exciting opportunity to bring Flat6Labs’ proven accelerator programme and expertise brought forward by the acceleration of more than 140 startups in over than 20 cycles across the MENA region since 2011," said Ramez El-Serafy, CEO of Flat6Labs. "The new accelerator program is set to provide Bahrain’s startup scene with a steady flow of innovative, exciting and most importantly investment-ready startups with the active support of our friends and partners at Tamkeen."
Flat6Labs Bahrain will carefully select seven local and international startups per acceleration cycle, conducting two cycles per year. The accelerator programme will accept innovative startups from idea or prototype stage and beyond, and will target those working in the fields of Financial Services and Payments; Education; ICT and Electronics; Mobile Apps and Games; B2B Infrastructure Services; Healthcare; Tourism; Real Estate Technologies and Hardware and Industrial Solutions.
Each of the selected startups will receive US $30K in cash seed funding and go through a 16-week mentorship-driven accelerator programme. The program will immediately register companies and help its founders turn their ideas into investment-ready companies. At the end of every cycle there will be a Demo Day where the graduating companies showcase their startups to a host of investors, media and potential business partners – all with the purpose of securing the startups further funding to keep them going and business opportunities to spur their operational growth.
“Startups are an important driver of economic diversification, and Bahrain’s pro-business environment and strategic connectivity is fast becoming a magnet for entrepreneurs to test, launch, and scale their businesses," said His Excellency Khalid Al Rumaihi, Chief Executive of Bahrain's Economic Development Board (EDB). "This exciting collaboration between Flat6Labs and Tamkeen will add a powerful new platform to the growing network of accelerators, incubators, and investors supporting Bahrain’s thriving startup ecosystem. We look forward to seeing the first wave of innovative young businesses that emerge from Flat6Labs Bahrain.”
"We are delighted to have a world-class organization such as Flat6Lab, and look forward to enriching the experiences of Bahraini business by bringing global models and developing their business according to advanced and successful models of business accelerators, said Ebrahim Mohammed Janahi, Chief Executive of Tamkeen.
Flat6Labs Bahrain is now accepting applications for its first cycle of the accelerator programme here.
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