(MENAFNEditorial) Tenmou, Bahrain’s first ‘Business Angels’ organisation, in strategic partnership with the Economic Development Board (EDB) is preparing to host the third Middle East North Africa (MENA) Angel Investors Summit at the Ritz Carlton Hotel , Bahrain on 22nd and 23rd November 2016. More than 40 start-ups are expected to attend the event.
The Summit aims to provide a strategic platform to facilitate angel investors and high-potential, innovative entrepreneurs from around the MENA region and beyond. Attendees will have the exclusive opportunity to present their business ideas, exchange deal-flow, learn best practices and raise awareness related to angel investment in the MENA region.
Commenting on the announcement, Hasan Haider, CEO of Tenmou said: “We, at Tenmou, are committed to build a robust support eco-system and position Bahrain as the entrepreneurial hub for the MENA region. Our strategic partnership with the Economic Development Board has helped us to further develop this cooperation between angel investors and venture capitalists over the years.”
“We have witnessed several deals being signed and start-ups connect with leading industry leaders and angel investors from around the world. This year again, we have a strong line-up of high-potential entrepreneurs who will be able to unleash the potential of angel investors and challenge them to make tangible, measureable commitments to support their endeavours,” he added.
Last year, more than 300 angel investors and entrepreneurs from the Middle East, North Africa, Europe and the US Silicon Valley participated in the MENA Summit. Regional agreements worth more than US$4 million were signed as a result of the Summit last year.
Khalid Al Rumaihi, Chief Executive at the EDB, said: “The MENA region, and the GCC in particular, offers globally unique opportunities for investment in the technology sector. It has a young, growing, technologically adept and affluent population which is an essential driver for the rapid growth in demand for mobile data, applications and services and startups in particular will have a big role to play in the future growth of the economy.
“Events like the MENA Angel Investors Summit allow us to continue to have conversations with some of the best startups in the Kingdom, and to learn about the challenges and opportunities they experience in order to ensure that they have the tools to thrive in their environment and build an ecosystem which is supportive for future innovation.”
Launched in 2011, Tenmou aims to support entrepreneurs with valuable business assistance, including financial investment, mentorship, advice and guidance. Tenmou recognizes that for many entrepreneurs, mentorship programmes can be as valuable as financial investments. Each project receives practical advice and training from the company’s board members, who bring with them a wealth of business experience. These training sessions expose the entrepreneurs to real business situations and are conducted in the form of workshops, on a regular basis.
Established with a start-up capital of BD1 million (US$2.7 million),Tenmou invests an average of BD20,000 – BD30,000 for a stake of on average 20% - 30% in each project that meets its criteria, and will provide a three-month mentorship period, including support services, at no cost to the entrepreneurs.
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