‘Build for Bahrain’ applications open
MANAMA: A start-up acceleration programme supporting the national economic recovery by developing innovative solutions to health and business continuity challenges is now accepting applications.
The Build for Bahrain programme is a partnership between the Bahrain FinTech Bay (BFB) and the US State Department’s Middle East Partnership Initiative (MEPI).
It will nurture start-ups that have rapid technology-powered solutions to current challenges.
“We are proud to be launching this first of its kind programme in the kingdom with our partners at MEPI and we believe tangible cross border collaboration will pave the way for future impactful projects,” said Khalid Dannish, chief executive of BFB.
Residents and citizens of Bahrain, aged 18 and above, as well as established start-ups are being invited to apply for the programme.
The programme is looking for sustainable solutions in areas that the business community has been most impacted during the current Covid-19 global economic crisis.
In addition, community-based solutions that address preventative health measures, frontline health worker concerns, the negative effects of social isolation, the digitising of public services and the local entertainment industry are welcome to apply.
Those who apply as individuals will be assigned to a team to develop a solution, upon acceptance into the programme.
All teams will then engage in a virtual challenge early next year, during which they will further hone their product, followed by a digital pitch on January 10, 2021.
Up to 20 tech-enabled proposals will be accepted and then enter a six-week incubation period, during which they will receive training on various aspects of developing and marketing their idea.
They will also receive mentorship from industry experts and work on developing their minimum viable product (MVP).
An MVP is an early-stage version of a product with just enough features to be usable by the first set of customers who can provide feedback for future product development. It is often used to validate the need for a certain product within the market.
On February 22, these start-ups will present their MVP to potential investors and stakeholders during the Demo Day.
The three winning teams will receive funding to further develop their solution, incubation at BFB and seats in one of the FinTech Consortium Institute’s FinTech education programmes.
Applications are now open until December 21.
Source: http://www.gdnonline.com/Details/896257/%E2%80%98Build-for-Bahrain%E2%80%99-applications-open
