Amwaj Islands, Kingdom of Bahrain, May 6 – YoStartups, which provides early-stage support to build startups across the world, has joined hands with CH9 to run four My Startup Bootcamps in Bahrain this year. The program is supported by Tamkeen as Strategic Partner and Ministry of Industry, Commerce and Tourism, Bahrain Economic Development Board and StartUp Bahrain as Program Partners.
The second batch of My Startup Bootcamp by YoStartups kicked off at CH9, Amwaj on 28 April 2018, with 120+ applications shortlisted to 20+ participants from 18 Startups coming together to fine-tune and sharpen their entrepreneurial journey. This batch had twelve Bahrainis and six international startups from Hong Kong, India, Slovenia, Saudi Arabia and Egypt participating in the program. A mixture of local and international startups in the Bootcamp gave Bahraini entrepreneurs an excellent opportunity to learn and share best practices along with building their network globally. This batch included startups from e-Commerce, Fintech, Medtech, Edtech and alternative energy domain. Based on the concept of ‘Lean Startup,’ the three day Bootcamp, teaches the participants how to fast track their startup idea. Moreover, activities that include helping participants refine their concept; solidify their startup ideas and business models, create an entrepreneurial mindset, and enhance their business viability through hands-on workshops.
Jappreet Sethi started the Bootcamp welcoming participants and giving them a heads-up on what challenges they will face not only in the Bootcamp but on their journey to become successful entrepreneurs. “There is no failure in entrepreneurship, it is all about testing several hypotheses to see which one works better,” said Jappreet Sethi, CEO – YoStartups. According to Mohamed AlTawash – Founder and Chairman of CH9 – “By bringing together early-stage international & Bahraini startups in My Startup Bootcamp, we can increase their chances of success in the tough world of entrepreneurship.”
My Startup Bootcamp has been graciously supported by the eminent Bahraini and international personalities such as John Kilmartin, Executive Director of ICT – EDB Bahrain, Mrs Fetooh Al Zayani, a highly internationally acclaimed Insurance & Reinsurance professional, Mr Saleh Hassan Ali Hussain, a banking expert and board member of Bahrain Development Bank. Craig Smith, CEO – Dhahran Techno-Valley Company, Trey Goede from Saudi Aramco Entrepreneurship Ventures, and Frank Fan, Head of Asia at Euroterra Capital, a boutique investment management from Hong Kong joined the program as mentors to coach and motivate the entrepreneurs to build a strong business. Furthermore, The Registration Directorate from MOICT has run a one-hour session for the participants on the available tools to encourage entrepreneurship. Tamkeen has also conducted a one-hour session on the various programs and support schemes offered to facilitate entrepreneurial growth.
The last day of the Bootcamp saw the participants, who flew in from different countries pitch to an audience consisting of investors, mentors, and judges from prominent organizations from the Private & Public sector. Pakiza Abdulrahman, Manager, ICT represented the Bahrain Economic Development Board and was part of the Jury, other Jury members included Mrs Fetooh Al Zayani, Sonya Janahi, Founder & CEO of Maya La Chocolaterie and Allen Renno, Director – Investment Management, GFH Financial Group.
Srdan Mahmutovic from Slovenia, Founder & CEO of Kriptomat, a platform to trade, buy and sell digital currencies won the first prize. Feeling elated about his win, warm Bahraini style hospitality and specially packed chocolate hamper by Maya La Chocolaterie, Srdan said, “It did not feel that I am not at my home, people are very warm and helpful in Bahrain. Kriptomat looks forward to setting up base in Bahrain shortly and bring its range of Digital Currency solutions for the GCC customers.”
The jury selected Asma Al Haji and Ali Al Mansoor, both Insurance veterans, won the third spot for their Insurance Tech startup, Ta’ameen, an online insurance comparison portal for Bahrain.
Reda Al Fardan won the third spot for His venture, Temr.cm enables small to medium-sized clinics to painlessly digitize all their patient data and administrative operations.
The third edition of My Startup Bootcamp is slated to be in October, around the same week as Bahrain Technology week. Yostartups & CH9 will be opening the applications for the program in June 2018.