Startups pitch their business models
Flat6Labs Bahrain hosted its Second Demo Day at The National Theatre of Bahrain where eight startups from its second cycle pitched their businesses. The second cycle received over 200 applications from more than 40 countries which were then narrowed down to a final selection of eight Startups. The team included both local and international participants with businesses offering products and services from a wide range of industries such as SaaS, FinTech, EdTech, F&B, E-commerce and more.
Throughout the four-month intensive developmental programme, the startups were given access to world-class trainers, mentors and coaches as well as a host of perks, office space, legal support and company registration in the Kingdom of Bahrain. Ahmed El Alfi of Founder, Flat6Labs told Tribune, “This initiative has created some great companies and provided some great investment opportunities and has helped to create a vibrant ecosystem that will self perpetuate itself.
“An ecosystem is a self-sustainable cycle and we want to create that in different fields such as education, innovation, entrepreneurship, support, growth, funding, giving these companies business, corporate supporting them, interacting with them where tremendous steps are being taken to create the self-perpetuating cycle so that we have major developments in Bahrain.” “Moreover, I want to thank the entrepreneurs not persuading regular jobs and persuading fantastic ideas and dreams and building companies and taking the risk from going out there and building the company from zero,” Ahmed added.
The Labour Fund (Tamkeen)’s Chief Executive Dr Ebrahim Mohammed Janahi praised the key role of the programme in assisting startup ventures to become fully operational and sustainable businesses. Khalid Al Rumaihi, Chief Executive of the Bahrain Economic Development Board, further added: “As part of our mandate to diversify the economy, the EDB will continue to support the start-up ecosystem to allow entrepreneurs to develop and learn from key mentors so that they can thrive and scale out to the region and beyond.”