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First Pre-money Mena Investor Conference in Bahrain
01 : 24 PM - 04/12/2015
Manama, Dec.4 (BNA): The Bahrain Economic Development Board (EDB) has partnered with 500 Startups, a leading global venture capital seed fund and startup accelerator headquartered in Silicon Valley, and Microsoft, on the first-ever PreMoney MENA investor event which is to be held at the Bahrain Four Seasons Hotel on Sunday 6th December.

PreMoney MENA is a one-day event on the most disruptive strategies, models and technologies for the future of venture capital. The event will feature some of the world’s most forward-thinking investors and will provide attendees with insight and tactics for building successful, scalable venture portfolios. Khalid Al Rumaihi, Chief Executive of the EDB, will also outline how the EDB assists first-time investors.

500 Startups is one of the most prolific forces in today’s global technology ecosystem with a portfolio of more than 1,400 businesses and a community of over 2,500 entrepreneurs around the world. PreMoney MENA will also be attended by 500 Startups’ ‘Geeks on a Plane’ (GOAP), a tour around the Middle East for selected startup founders, investors and executives to find out about the region’s growing technology market and investment opportunities.

Al Rumaihi EDB, said:
"The GCC offers globally unique opportunities for investment in the technology sector. In the GCC we have a young, growing, technologically adept and affluent population demanding new applications and services. To meet this demand, Bahrain is building a strong ICT ecosystem which encourages technology focused entrepreneurship, drives forward innovation, and attracts new types of investment. This event will provide a boost to businesses across the region by working to improve access to capital and experience for our ambitious entrepreneurs."

Dave McClure, Founding Partner at 500 Startups, said:
"Bahrain has a supportive environment for entrepreneurs and we are proud to host the first PreMoney MENA Conference here. Bahrain has one of the most experienced and international economies in the MENA region with many entrepreneurs looking to develop new technologies. We look forward to investing in startups in the region and supporting innovation and entrepreneurship while partnering with the Bahrain EDB."

Bahrain boasts the Middle East’s most liberal and advanced ICT infrastructure and policies, creating an ideal testing-ground for innovators wanting to roll out new technology across the region. In November 2015, C5 Accelerate Limited, working with Amazon Web Services (AWS), launched the first Cloud Accelerator in the Middle East and Africa, located in Bahrain. More than 30 IT providers operate in Bahrain, including Huawei, Microsoft and Wipro. The Kingdom ranks first regionally and 27th globally in the International Telecommunication Union’s 2015 "Measuring the Information Society Report". The Kingdom is also ranked 5th globally for mobile broadband access and 6th for use of social networks in the World Economic Forum’s Networked Readiness Index.


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BNA 1019 GMT 2015/12/04
Number of readings : 5067        Last updated : 01 : 24 PM - 04/12/2015