Global growth opportunities for startups are highlighted

MANAMA: A first-time report published by the Bahrain Chamber of Commerce and Industry (BCCI) in collaboration with research and advisory firm Oxford Business Group (OBG) highlights opportunities for local companies looking to extend their reach into new global markets while relaying the growth stories of several homegrown startups operating across the economic sectors.

Titled ‘Local to Global The Journey of Bahraini Startups’, the publication includes case studies of nine diverse businesses, alongside interviews with their founders and members of their leadership teams. The businesses featured are: Skiplino, Azza Showroom, Infiniteware, Tamarran, LAM, Al Rawi, Tarsheed Energy, Exa and Jomon Food.

The publication tracks their journeys, from pre-launch to current set-up, while also exploring the investment opportunities becoming available to local businesses.

It also gives details of the support mechanisms that have assisted them along the way and helped create a conducive startup environment for small and medium-sized enterprises (SMEs).

Emerging technologies are playing a key role in driving the kingdom’s plans forward and have led to a sharper focus on innovative tech startups, supported by well-developed ICT infrastructure.

Digital solutions are proving to be particularly effective in facilitating Bahrain’s response to the Covid-19 pandemic, with the kingdom moving swiftly to launch a series of e-health solutions, designed to track cases, alongside additional containment and testing measures when the first cases were identified.

BCCI chief executive Shaker Al Shater said, “We are consolidating our efforts to promote local businesses and streamline their expansion, while at the same time working to promote Bahrain’s favourable business ecosystem and attract foreign investments.”

Commenting ahead of the launch, OBG’s regional editor for the Middle East Billy FitzHerbert said that while Bahrain’s economy has long been one of the most mature and diverse in the GCC, the role played by start-ups and SMEs in the non-oil sector was growing, with the segment now accounting for almost 30 per cent of the national GDP.




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