As part of its strategic objectives to develop and bolster the next generation of Bahraini business leaders, Tenmou, the Kingdom’s First ‘Business Angels’ announced its latest batch of Bahraini entrepreneurs who have received an investment boost to commence business.
Mr. Sami Jalal, the Chairman of Tenmou, introduced the entrepreneurs to the local media during an exclusive meet and greet session held at the Crowne Plaza Hotel.
The tech savvy start-ups in the latest batch include: uTrack, the Kingdom’s first company to provide a unique way of covering sports events, such as car, bike and horse races using go-Pro cameras, the world’s most versatile cameras. Spades Studio, the first multi-use photography studio in Bahrain where products such as cars and furniture can be photographed. The studio will also provide a ‘members only’ space for hiring cutting-edge equipment and studio space.
Onebox Solution, aims to enhance education tools for teachers and students, by converting books into e-books; Eat: is an app which makes dining at 5-star restaurants in Bahrain more accessible, through an online reservation system. Finally Fish Transporter: provides a unique service for fish lovers. The app enables customers to have fresh seafood delivered to their doorstep. The fish is cleaned, filleted or even cooked and delivered as per the need of the consumer.
Sami Jalal, Chairman of Tenmou, commenting on the announcement, said: “Continuing with our pledge to enhance the start-up experience for promising Bahraini ventures, we at Tenmou are excited to see a new crop of digital businesses being established in the Kingdom. These companies are part of our country’s promising digital sector and will be paving the way for many more.”
Hassan Haider, Chief Executive Officer of Tenmou, said: “Our strategy at Tenmou is to enhance the entrepreneurial culture among our local population, which will play a key role in driving innovation and development. Bahrain has been one of the most successful incubators for entrepreneurs in the region and we are proud to offer valuable assistance, including financial investment, mentorship as well as advice and practical guidance. We are confident that with Tenmou’s support our tech-savvy entrepreneurs will be able to build the insight and connections to grow their businesses.”
Since the initiative was started in 2011, there has been a surge in the number of applications. While the selection processes have been highly competitive, around 150 applications were received for the current batch. Applicants were evaluated based on the uniqueness of their ideas and the potential for regional, and perhaps even global, expansion in the future. The individual entrepreneurs behind the ideas were also assessed for both their practical skills and their passion for their respective propositions.
With a start-up capital of BD1m ($2.7m),Tenmou was established in 2011, and invests an average of BD20,000 ($53,000) for a stake of on average 20% in each project that meets its criteria, and will provide a three-month mentorship period, including support services, at no cost to the entrepreneurs.
For further press information on Tenmou please contact:
Hill + Knowlton Strategies
Tel: +973 17533532
Fax: +973 17533370