As part of its strategic objectives to develop and bolster the next generation of business leaders, Tenmou, Bahrain’s First ‘Business Angels’ organisation, is gearing up to host the first MENA Angel Investors Summit at the Ritz Carlton Hotel on 1st June 2014.
The event will be held in strategic partnership with the Economic Development Board (EDB). His Excellency Minister of Transportation and Acting CE of EDB, Kamal Bin Ahmed will inaugurate the summit.
The concept of angel investing offers an excellent platform for regional and international investors to connect with high-potential innovative entrepreneurs from the region to share experience and develop their investment portfolios. More than 25 angel investors and 50 entrepreneurs from the Middle East, North Africa, Europe and the US’ Silicon Valley are expected to participate in the event.
Sami Jalal, Chairman of Tenmou, commenting on the announcement said: “We are committed to enhancing the start-up experience for promising ventures, and are thrilled to see so many people with a passion for entrepreneurship on board for the event. I would like to express my gratitude to our strategic partner the Economic Development Board for supporting this exclusive initiative.”
According to His Excellency Kamal bin Ahmed, Minister of Transportation and Acting CE of EDB, this event provides a great opportunity for start-ups from Bahrain and the region. “Our strategic objective is to support and encourage the development of the right platform for sharing knowledge and experience between both angel investors and venture capitalists. While important national institutions such as the Bahrain Development Bank (BDB) and Tamkeen have developed programmes to improve the availability of finance for local entrepreneurs, events such as the MENA Angel Investor Summit will further enhance the already thriving entrepreneurship ecosystem in Bahrain and will help position the Kingdom as an entrepreneurial hub in the MENA region.”
Hassan Haider, Chief Executive Officer of Tenmou, said: “Amongst our businesses, we focus on nurturing the entrepreneurial spirit, a key for development and growth. Our focus is on fostering an innovative Bahrain, which has proven to an excellent incubator for new business ideas and ventures. Organising the MENA Angel Investor Summit in partnership with EDB will further bolster this ecosystem and showcase Bahrain’s strengths to major investors from places such as Silicon Valley, Europe and the MENA region.”
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 (US$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.