Manama, September 11 / BNA / The Labor Fund (Tamkeen) announced the opening of applications for the Young Entrepreneurs Program (Project 2.0). The program was formerly known as Mashroo3i and was launched by Tamkeen in 2012, then it has run in six versions.
The updated version of this program aims to empower Bahrainis between the ages of 16-30 who have an entrepreneurial spirit and a passion for innovation. It also gives them the opportunity to revive their concepts and launch new business ventures, thus promoting economic growth led by Bahraini youth.
Over the course of the programme, participants will acquire the skills and knowledge required to pursue entrepreneurship as a career path, contributing to building sustainable businesses in the local economy. These include skills around reasoning, concept validation, prototype planning and development, financial planning and forecasting, developing go-to-market strategies, and pitch development, among other essential skills.
Commenting on this initiative, Ms. Maha Moviz, Acting CEO of the Labor Fund (Tamkeen), said: “We strongly believe in the importance of entrepreneurship in the economy. At the same time, we believe that the energy and spirit of Bahraini youth can stimulate entrepreneurship in the Kingdom, paving the way Innovation that in turn creates jobs, enhances competitiveness, enhances productivity, and challenges the local market.” She added: “This program will help provide Bahraini youth with the basic skills and knowledge necessary to establish and launch a successful business and provide them with opportunities to benefit from the financial support of “Tamkeen” to start their entrepreneurial journey. New companies are working to drive economic diversification and growth. Empowerment and objectives of the national economic recovery plan.
The Young Entrepreneurs Program (Masrou3i 2.0) is designed to support young people with a business idea to develop their personal and business competencies and encourage them to innovate and commercialize their concepts. It will create a portfolio of high-quality startups that are ready to capitalize on business accelerators and raise funds from venture capital investors. The program will provide advisory support through a deep pool of expert mentors who will help them validate their ideas and eliminate the risks of their entry into the labor market thus accelerating their growth and expansion.
Young innovators with business ideas can apply to the program online from September 11, 2022 through the Young Entrepreneurs (My Mashrou’3i 2.0) page on Tamkeen’s website (www.tamkeen.bh).
The program accepts applications from both teams and individuals who have a viable business concept or who have startups in the idea and early stages. The program will last for six weeks, and the first phase consists of a comprehensive bootcamp focused on helping participants improve and validate their business ideas. The second phase will be an intensive startup advisory program dedicated to providing startups with the skills and networking to accelerate their launch and develop their minimum viable products. At the end of the programme, up to ten teams will have the opportunity to present their developed business concepts to potential investors during the demo day event.
Subsequently, senior participants will receive Tamkeen grants to launch new businesses while a number of participants will have access to Tamkeen support through other related programs.
The Young Entrepreneurs Program (Masrou3i 2.0) is among 16 programs that Tamkeen launched earlier this year as part of a comprehensive transformation initiative that aims to make a greater economic impact in the Kingdom of Bahrain. Tamkeen has always been committed to promoting entrepreneurship in the Kingdom of Bahrain and supporting startups in an ecosystem that enables them to thrive and grow, and since its inception, Tamkeen has supported more than 19,000 entrepreneurs to launch their business models. This comes as part of Tamkeen’s main objectives of empowering the private sector to become an engine of economic growth and making Bahraini talent the employee of choice.