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Tenmou, the kingdom’s first ‘Business Angels’ has been selected as a World Bank case study for its success and innovation, according to a press release.
The World Bank report, titled ‘Creating Your Own Angel Investor Group: A Guide for Emerging and Frontier Markets’ aims to educate entrepreneurs and angels from around the world. Co-authored with the Kauffman Foundation the report is the first of its kind to be targetted at international audiences, and highlights the successes and challenges of angel groups in challenging markets.
Speaking at the launch of the publication, Sami Jalal, chairman of Tenmou, said, “For Tenmou to be selected as a model of success in this report is a great honour. Over the last four years Tenmou has worked towards it strategic objective to develop and bolster the next generation of Bahraini business leaders. For these efforts to be recognised, it not only demonstrates the vibrant culture of entrepreneurship in Bahrain, but the strength in the angel investing model.”
Tenmou CEO Hasan Haider added: “The publication of the World Bank report citing Tenmou as a model case study, certainly cements the foundations we have built here in Bahrain for the entrepreneurship community. The kingdom 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.
“Furthermore, following from the inaugural MENA Angel Investors Summit, which had over 250 participants, we believe the next few years will be pivotal for Tenmou and the angel investing model here in Bahrain and the wider region.
“For Tenmou to have clearly made a mark to the outside world is highly positive, and we hope that Bahrain’s entrepreneurship ecosystem will continue to develop as a shining example.”
Since the initiative was started in 2011, there has been a surge in the number of applications, the press release added. 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 passion for their respective propositions.
With a start-up capital of BD1 million,Tenmou was established in 2011, and 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.
