News Column

Tenmou to host debut Mena Angel summit

May 21, 2014

Manama



Tenmou, the first 'Business Angels' organisation in Bahrain, is gearing up to host the inaugural "Mena Angel Investors Summit" in the kingdom next month.

 

More than 25 angel investors and 50 entrepreneurs from the Mena region, Europe and the US' Silicon Valley are expected to participate in the event to be held at the Ritz Carlton Hotel on June 1.

The summit is being held in strategic partnership with the Economic Development Board (EDB) to develop and bolster the next generation of business leaders.

Minister of Transportation and acting chief executive of EDB, Kamal Bin Ahmed will inaugurate the two-day event.

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, said the organisers.

Sami Jalal, the chairman of Tenmou, 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."

Kamal bin Ahmed said the event provided 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," he noted.

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 region."

Tenmou CEO Hassan Haider 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 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, he added.

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 ($2.7 million),Tenmou invests an average of BD20,000 for a stake of on average 20 per cent in each project that meets its criteria, and will provide a three-month mentorship period, including support services, at no cost to the entrepreneurs.-TradeArabia News Service

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Source: TradeArabia


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