Bahrain's thriving entrepreneurial ecosystem took centre-stage as DOO and Tanami Capital were named joint winners of the prestigious Startup of the Year Award, highlighting the kingdom’s growing status as a premier regional hub for innovation and business growth.
DOO is an AI-powered customer experience and conversational automation platform specialising in Arabic-first and Gulf dialect-aware AI agents, while Tanami Capital is a regulated wealth-technology platform based in Manama that enables everyday and institutional investors to access global private markets.
The initiative, a strategic partnership between Mumtalakat, the kingdom’s sovereign wealth fund, and the Labour Fund (Tamkeen), aims to recognise high-potential Bahraini startups, providing critical investment, strategic guidance, and growth opportunities to help them scale regionally and drive economic development.
The awards ceremony was attended by senior officials, including Finance and National Economy Minister Shaikh Salman bin Khalifa Al Khalifa, Sustainable Development Minister and Bahrain Economic Development Board (Bahrain EDB) chief executive officer Noor Al Khulaif, Industry and Commerce Minister Abdulla bin Adel Fakhro, Mumtalakat CEO Shaikh Abdulla bin Khalifa Al Khalifa and Tamkeen CEO Maha Mofeez.
Addressing the attendees, Shaikh Salman praised the ambition and resilience of local entrepreneurs, emphasising the vital role emerging businesses play in driving economic diversification and generating high-quality jobs for Bahrainis.
“The winning companies stood out among an exceptional group of entrepreneurs, embodying the ambition, resilience, and vision that characterise Bahrain’s startup ecosystem,” Shaikh Salman said.
“These enterprises play a massive role in building a diversified economy. They create businesses, generate high-quality jobs, and every company here is a source of pride for the kingdom, especially given the growing number of Bahraini talents within their ranks.”
Shaikh Salman also commended Tamkeen and Mumtalakat for their joint efforts in fostering an environment where young Bahraini enterprises can thrive and compete on a global scale.
Now in its third edition, the Startup of the Year competition was launched in 2024 to support the most promising ventures emerging from the Startup Bahrain Pitch series. Participating companies undergo a rigorous evaluation process focused on innovation, market viability, alignment with national economic strategy, and scalability.
Since the partnership’s inception, more than 30 high-potential startups have been evaluated, with four enterprises securing direct investment from Mumtalakat. Previous editions recognised standout local ventures including Early Riser and Lumofy in the first edition, followed by Parcel and Procural in the second edition.
The underlying Startup Bahrain Pitch initiative, supported by Tamkeen in collaboration with the SME Development Board, provides an interactive platform for entrepreneurs to showcase their ventures to investors while gaining mentorship, training, and networking opportunities.
Since its launch in 2023, the series has hosted 28 editions, featuring 132 startups delivering innovative solutions across diverse sectors to accelerate their growth and expansion.
avinash@gdnmedia.bh
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