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16 firms launched under incubator project

Bahrain Business
Mon, 11 Dec 2017


MANAMA: Sixteen companies have been launched as a result of the Business Incubator and Accelerator launched earlier this year, it has emerged.
Industry, Commerce and Tourism Minister Zayed Al Zayani said via a recorded speech during the opening of Bahrain’s 6th Annual SMEs Day Conference and Exhibition that the project has a capacity of 1,000 companies and 148 active incubated start-ups.
The minister referred to the official visit by His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince, Deputy Supreme Commander and First Deputy Prime Minister, to the US, where the ministry signed a co-operation agreement with Small Business Administration.
He added that the Cabinet decision to reserve 20pc of government procurements and tenders for small and medium enterprises showed the government’s interest in the vital sector.
Under the theme “Technology Transfer in the Leadership and Development of Small and Medium Enterprises”, the forum is organised by Bahrain SMEs Society, in co-operation with Golden Trust, EDB, Tamkeen, BDB, BCCI and other related parties at the Wyndham Grand Hotel in Bahrain Bay.
The conference also included the launch of a Bahraini research initiative by academics and researchers to provide an interactive platform that brings together experienced researchers to support the research needs of the business sector in Bahrain and to ensure that it continues to keep pace with Bahrain’s transformation towards a knowledge economy.