Bahrain’s first Business Angels Company “Tenmou”, announced plans to support 50 Bahraini SMEs through a partnership with the Center for International Private Enterprise (CIPE) in the United States, to grow the SMEs sector in Bahrain and increase its contribution to GDP, in line with the government’s recent economic recovery plan.
Under the patronage and in the presence of the Minister of Labor and Social Development, HE Mr. Jameel bin Mohammed Ali Humaidan, U.S. State Department representatives, U.S. Embassy Chargé d’Affaires Margaret Nardi and other embassy officials, and several workers in the field of support SMEs in Bahrain, Nawaf AlKoheji, CEO of “Tenmou,” signed a cooperation agreement in this regard with Mr. Abdulwahab Alkebsi, President of the Center for International Private Enterprise (CIPE).
This 18-month project will support the sustainable growth of Bahraini SMEs through the provision of needed training and related business support services, investor education and preparedness, policy reform to strengthen Bahrain’s entrepreneurship ecosystem particularly around access to finance, and commercial dialogue between the U.S. and Bahrain to expand the utilization of the U.S.-Bahrain Free Trade Agreement (FTA) and other bilateral business opportunities.
The program will provide a new series of business growth services tailored to Bahraini SMEs. Two cohorts of 25 SMEs (50 in total) will be provided with specialized training and technical assistance, mentorship and coaching, and a platform for peer learning to achieve sustainable growth.
Areas of focus will include digital transformation, unlocking new sources of investment, accessing new regional and international markets, and achieving equitable outcomes for women-owned SMEs. “Pitch nights” will be organized to provide SMEs with access to investment opportunities.
To strengthen the ecosystem from the investor’s side, the project will educate Bahraini investors about the opportunities for investment in Bahraini startups, especially those run by women, while readying startups to pitch and attract Bahraini investors more effectively.
Furthermore, Tenmou will conduct a three-day instructional session for anyone interested in angel investment, and will bring in an experienced and influential mentor to run the event.
The project will launch a new commercial dialogue series between U.S. and Bahraini business leaders, officials, and other stakeholders, including a focus on maximizing the U.S.-Bahrain FTA. Building on existing channels, the project will expand participation in the dialogue with Bahraini SMEs to enhance inclusive growth and expand the economic benefits of the FTA to a wider spectrum of actors.