If you’ve ever wondered what an island like Bahrain has to offer to entrepreneurs and startups, we’re happy to fill you in and let you know how the ecosystem here has developed with the support of key stakeholders.
Background on Bahrain
We’ll start off with some information about Bahrain for anyone who might not have heard much about us. Bahrain is an island in the Arabian Gulf, just off the northeastern coast of Saudi Arabia. Its estimated population is 1.64 million people and its official language is Arabic with English also spoken commonly to communicate and do business. Bahrain has a reputation for being a warm and hospitable country with an exceptional lifestyle and welcoming culture. We are proud to say that Bahrain was ranked as the world’s best destination for expatriates in the Expat Insider Report 2018, with Taiwan and Ecuador in second and third places, respectively.
Bahrain positions itself as business-friendly, with advantages that any startup would find valuable. Some of these advantages include:
- 100% foreign ownership without any free zone restrictions.
- Lower operating costs in comparison to other countries in the region.
- Access to markets of neighboring countries such as Saudi Arabia, the United Arab Emirates, and Kuwait, which could either occur by land or within an hour flight by plane.
Plus, Bahrain’s ecosystem offers much more and has already taken action in transforming its regulatory framework and shifting its focus to incorporate the digital world. With its vision to be the “Fintech Hub” of the Middle East region, Bahrain established its Fintech regulatory sandbox and crypto-currency regulations, allowed for funding through Shari’a-compliant crowdfunding, and recently adopted open banking. We also have the Startup Bahrain initiative, home for innovative digital startups and Bahrain’s ecosystem of corporates, investors, accelerators, incubators, educational institutions, and public sector institutions. You can check out Startup Bahrain to learn more about the startup ecosystem and view key stakeholders and what they could offer you as part of the ecosystem. In addition, there are a number of accelerators based in Bahrain, which can be viewed on Startup Bahrain’s ecosystem page.
Momentum in Manama
Bahrain’s startup community is pleased to have the GAN Momentum Tour taking place in Manama, Bahrain! Being part of the GAN Community, we are thrilled and proud to be one of the hosts of the Manama Momentum Tour. We believe that the tour will add considerable value in bringing together the region’s startup community and key players to learn, share, engage, network and collaborate with each other.
If you still haven’t registered to attend the GAN Momentum Tour in Manama on the 24th of October 2019, hurry and register TODAY.