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THE first group of Bahraini entrepreneurs, who will receive financial assistance and expert guidance from Tenmou, Bahrain’s first business angels’ company, is to be announced shortly, writes Anasuya Kesavan.
Four start-up businesses will benefit from funding of around BD20,000 in exchange for a 20 per cent ownership share in the business.
Officials said the entrepreneurs own the majority share without making any initial investment while they benefit from contacts, networking opportunities and in-depth guidance for three-months of thorough oneto-one interactions and mentorship evenings with investors as well as sessions with the specialist partners that Tenmou has on board.
CEO Hasan Haider said such initiatives were important for Bahrain’s ‘back to business’ image. He said: “Tenmou has a vital role to play in the development of the Bahraini economy by allowing innovative and unique concepts, supported by driven and
determined entrepreneurs, to be given a good chance to succeed.
“We also facilitate the transfer of knowledge, expertise and experience from successful businessmen to the next generation
of entrepreneurs.
“Regardless of the situation in Bahrain today, there are many opportunities out there for the right people with the right idea. It’s important to remember that some of the most successful companies in the world were started during depressions,” he said.
Applicants were first screened by an advisory committee who include nonboard member investors as well as external advisors.
The final selection committee comprised of at least three members of Tenmou’s board of directors.
Tenmou was launched in July this year with an initial start-up capital of $2.7 million. It is the only entity in Bahrain that provides seed stage funding to entrepreneurs in a non-loan/non-credit form. Unlike several similar organisations which support start-up initiatives, Tenmou believes that its main differentiating factor is its understanding of entrepreneurs, as well as the unique private sector approach and willingness to take risks. Partners and supporters of this project include the Bahrain Economic Development Board, Bahrain Development Bank, ALBA, Unisono, BDO Jawad Habib, 4SPOTS, Ernst and Young and the Capital Club.
Amy Morgan, CEO of business branding consultants Unisono, said: “Working with Tenmou directly fits with our entrepreneurial, brand centric culture and will be a key part of our corporate social responsibility plans.
“Tenmou has the potential to help transform Bahrain’s commercial landscape, establishing it as an emerging centre for entrepreneurialism. We look forward to working with the candidates to develop brand concepts that maximise the potential of their ideas and enhance long-term business value.
It is an inspiring opportunity.” A selection process for the next group of entrepreneurs is currently underway and they should apply for support by visiting www. tenmou.me
