Procural and Parcel Win Bahrain’s Startup of the Year Award

TDT | Manama

Bahrain is putting a strong spotlight on its entrepreneurs and startups, recognising them as key drivers of the country’s future economy.

His Excellency Shaikh Salman bin Khalifa Al Khalifa, Minister of Finance and National Economy and Chairman of Bahrain Mumtalakat Holding Company, praised the role of the private sector in creating meaningful opportunities for citizens and supporting the nation’s comprehensive development. He also highlighted how entrepreneurs contribute to Bahrain’s global competitiveness by launching innovative and creative ventures.

The Minister made his remarks during the awards ceremony for the second edition of the "Startup of the Year" competition, where two standout Bahraini companies — Procural and Parcel — were named winners. The event was attended by senior officials, including Industry and Commerce Minister Abdullah bin Adel Fakhro, Central Bank Governor Khalid Hamad, and Mumtalakat CEO Shaikh Abdulla bin Khalifa Al Khalifa.

Shaikh Salman emphasized Bahrain’s ongoing commitment to nurturing a startup-friendly environment through various initiatives and support programs. This includes the efforts of Tamkeen, the Labour Fund, which plays a key role in supporting employment, professional growth, and entrepreneurship across the Kingdom.

He credited Shaikh Isa bin Salman Al Khalifa, Minister at the Prime Minister’s Office and Chairman of Tamkeen, for steering efforts that empower startups through innovative programs aligned with Bahrain’s long-term development goals under the leadership of His Majesty King Hamad bin Isa Al Khalifa and the directives of Crown Prince and Prime Minister His Royal Highness Prince Salman bin Hamad Al Khalifa.

Empowering Innovation and Job Creation

The competition, co-organized by Mumtalakat and Tamkeen, aims to encourage innovation and help startups scale both locally and internationally. Winning companies will receive direct investment from Mumtalakat, under agreed-upon terms, to support their growth journey.

Shaikh Abdulla bin Khalifa Al Khalifa, CEO of Mumtalakat, said the sovereign wealth fund is committed to investing in promising local ventures that contribute to Bahrain’s economic development and help position the Kingdom as a hub for innovation.

Tamkeen CEO Maha Abdulhameed Mofeez reaffirmed the fund’s dedication to providing startups with the resources and opportunities needed to grow sustainably and create quality jobs for Bahrainis.

Who Are the Winners?

Procural: A cloud-based procurement platform that connects buyers with a broad network of vendors, streamlining commercial tender processes through digital innovation.

Parcel: A delivery service platform that offers smart logistics solutions to homes and small businesses across Bahrain.

The Startup of the Year initiative is part of a larger entrepreneurial journey that began with the Startup Bahrain roadshows. Last year, six rounds were held, and 12 finalists were chosen to compete in this year’s finale. Participants received mentorship and training to fine-tune their pitches and improve their visibility with investors.

As Bahrain looks ahead to 2025, Tamkeen’s strategy focuses on empowering local talent, supporting digital transformation, and reinforcing the role of the private sector in building a resilient and diverse economy. The success of these startups reflects the country’s confidence in homegrown innovation and its vision for a thriving entrepreneurial ecosystem.

Shaikh Abdulla bin Khalifa Al Khalifa, CEO of Mumtalakat

Tamkeen CEO Maha Abdulhameed Mofeez