More than USD 4m raised by promising entrepreneurs through Beban


Manama, May 27 (BNA): Hope Ventures, the investment arm of Hope Fund and producers of the entrepreneurial investment show and the region’s 1st private-public investment platform ‘Beban’, announces the successful conclusion of its third season which aired on Bahrain TV, AlRai TV, Abu Dhabi TV, Saudi Broadcasting Authority Channel (SBC), Oman Cultural TV, and the region’s leading video-on-demand platform, Shahid.

 

The season was filmed in the Middle East’s newest exhibition and convention centre, Exhibition World Bahrain (EWB). It showcased 41 businesses comprising of over 100 entrepreneurs from across the MENA region as they pitched in front of a panel of regional, reputable investors for equity investment and strategic business development opportunities that can accelerate their growth into new markets.

 

Prior to pitching on the show, the entrepreneurs had undergone over 200 hours of extensive training by industry experts to develop and grow their businesses and ensure their readiness to participate in Beban.

 

Out of the 41 businesses that pitched on Beban Season 3, 20 had successfully fundraised, making the season’s total investments USD 4,180,000 co-invested by the private and public sectors alongside one another. The businesses who secured investment comprised of 4 key sectors: technology, manufacturing, food & beverages, and retail.

 

Through Beban Season 3, the show became the region’s 1st private-public investment platform through its formed partnerships with Khalifa Fund for Enterprise Development (United Arab Emirates) the SME Development Authority (the Sultanate of Oman), GFH Capital (Kingdom of Saudi Arabia), Zain Kuwait and Sabah Al Ahmad Center for Giftedness and Creativity (Kuwait), and the Labour Fund Tamkeen (Kingdom of Bahrain).

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Another milestone Beban has achieved throughout its 3rd season was winning the Kuwait Creativity Award under the Television Programmes category at the 11th Arab Media Forum, further reinforcing the show’s stance as the region’s 1st private-public investment platform.

 

Commenting on the occasion, Fajer Saleh Al Pachachi, the General Manager of Hope Ventures, said: “We proudly conclude season 3 of Beban, having successfully facilitated strategic investment opportunities for high-potential, scalable businesses as the MENA region’s first private-public investment platform. Through Beban’s comprehensive range of offerings, including fundraising, regional exposure, and business perks, this season’s entrepreneurs have reaped many rewards based on merit. We commend the participating entrepreneurs and welcome a new batch of visionaries in the upcoming season, as we continue to foster success stories throughout the MENA region.”

 

Following Beban Season 3’s success, Beban invites all MENA-based entrepreneurs looking for investment and strategic opportunities to apply to its Beban Season 4 through its website beban.me before June 6th, 2024.

 

Y.R

 






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