Finding an incubator or accelerator to support your success is crucial to launching a small business in Bahrain. These organizations can help you as you launch, develop, and expand your business. Selecting an incubator or accelerator that meets your unique demands is crucial because Bahrain has a variety of them available.
This article discusses Bahrain’s different types of business incubators and accelerators and their advantages. We also give a brief list of the most well-known incubators and accelerators authorized in Bahrain, and we shed light on the country’s investment environment, its key benefits, and how to register startups there.
Why resort to an Incubator or Accelerator?
An incubator or accelerator, which offers support and coaching from seasoned business owners, assists in providing the necessary resources to launch and expand a small firm. Since these organizations offer co-working spaces, guidance, marketing, commercial and financial planning, and public relations for a specific incubation period per each program, Bahrain has a large number of incubators and accelerators interested in various sectors that can help startups overcome obstacles and achieve goals while establishing a new business or growing an existing project.
Benefits and Types of Business Incubators and Accelerators.
If you are inquiring about the benefits of startups joining business incubators and accelerators in Bahrain, we can list the most prominent of these benefits as follows:
1. Increase business efficiency and growth.
2. Increase access to resources and mentorship.
3. Increase exposure to new and innovative works.
4. More professional development and networking opportunities.
The Different Types of Incubators and Accelerators in Bahrain:
Type I: Business incubator that provides startups with programs, workspaces, and resources to help them grow and succeed.
Type II: startup accelerator that helps stimulate the startup of new companies and grow their business.
Type III: Venture capital firm that helps startups raise funds to develop their business further.
When selecting the ideal incubator or accelerator, you must take into account a variety of variables. For instance, do you prefer to collaborate with national or international businesses? Do you choose short-term or long-term programs? Do you desire access to facilities, financing, and mentoring?
Once you’ve decided on an incubator or accelerator, getting in touch with her is essential. You can do this by calling the Foundation or completing the online application form. Below, we’ve compiled a list of Bahrain’s top business incubators and accelerators and their contact information.
The List of Licensed Incubators and Accelerators in Bahrain
1- Brinc MENA
- Industry: Internet of Things
- Type: Business Accelerator
- Website: https://www.brinc.io/
- Email: Ali.hussain@brinc.io zainab.khamis@brinc.io marwa.aleskafi@brinc.io
2- MAZ Business
- Industry: Generic
- Type: Business Incubator
- Website: https://mazbusiness.com
- Email: incubator@mazbusiness.com
3- ACT Pro
- Industry: Generic
- Type: Business Incubator
- Website: https://www.actpromena.com
- Email: admin@actpromena.com vgrusa@actpromena.com
4- Spire Hub
- Industry: Marketing & Design
- Type: Business Incubator
- Website: https://www.spire.bh
- Email: se@spire.bh Hub@spire.bh
5- Kickstart Bahrain
- Industry: Generic
- Type: Business Incubator
- Website: https://kickstart.bh/
- Email: info@kickstart.bh
6- The Active Leaders for Women Advancement in the Near East – ALWANE
- Industry: Supporting women entrepreneurs
- Type: Business Incubator
- Website: https://www.alwanebh.com/en
- Email: office@bdsmes.com alwane@bdsmes.com
7- Pro Sky Business Center
- Industry: Media
- Type: Business Incubator
- Social Media: https://www.instagram.com/proskybh/?hl=en
- Email: info@proskybh.com
8- Bahrain Gate for Supporting Small and Medium Enterprises
- Industry: Generic
- Type: Business Incubator
- Website: https://bdsmes.com/category
- Email: bahraingate@bdsmes.com
9- Gulf Gate Medical Complex
- Industry: Medical
- Type: Business Incubator
- Website: https://medical.bh/medicalfirmdetail/MTM3/dental-orthopedics-gynecology-al-salmaniya-gulf-gate-medical-complex
- Email: gulfgate@bdsmes.com
10- Bahrain Fintech Bay
- Industry: Fintech
- Type: Business Incubator
- Website: https://www.bahrainfintechbay.com/
- Email: amina.naar@bahrainfintechbay.com https://www.bahrainfintechbay.com/contact-us
11- Uni Concept
- Industry: Generic
- Type: Incubator and Accelerator
- Website: https://uniconcept-incubator.com/en/
- Email: info@uniconcept-incubator.com uniconcept.bh@gmail.com
12- Keepers
- Industry: Law Firm
- Type: Business Incubator
- Social media: https://www.instagram.com/keepersbh/?hl=en
- Email: keepers.bh@gmail.com shayma.keepers@gmail.com
13- Mauna Entrepreneurs Support
- Industry: Generic
- Type: Business Incubator
- Website: https://www.maunabh.com/mauna-entrepreneurs-support
- Email: mirzah@maunabh.com https://www.maunabh.com/contact-us-1
14- Brilliant Lab
- Industry: Technology
- Type: Business Accelerator
- Website: https://www.brilliant-lab.com
- Email: naldihany@brilliant-lab.com alaa@brilliant-lab.com brilliantlab350@gmail.com
15- Impact Accelerator
- Industry: Technology
- Type: Incubator and Accelerator
- Website: http://angivestventures.com/innovation-co-working-space/
- Email: sunitha@angivestventures.com
16- Bahrain Entrepreneurship Organization
- Industry: Export & E-Commerce
- Type: Business Incubator
- Website: www.beobahrain.com
- Email: hello@beobahrain.com
17- Tenmou
- Industry: Angel Investment
- Type: Incubator and Accelerator
- Website: https://tenmou.me/
- Email: nawaf@tenmou.me khawla@tenmou.me hala@tenmou.me info@tenmou.me
18- Man Squared
- Industry: Technology and Creative Industry
- Type: Business Incubator
- Website: https://www.mansquared.com
- Email: space@space340.com
19- Diwan Hub
- Industry: Technology
- Type: Business Incubator
- Website: https://www.diwanhub.com/
- Email: info@diwanhub.com
20- Sovereign Group
- Industry: Generic
- Type: Business Incubator
- Website: https://www.sovereigngroup.com/sg-bahrain/
- Email: aaladawi@sovereigngroup.com nkhoury@sovereigngroup.com
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In any of these incubators or accelerators, you will work with business owners and specialists who specialize in offering advice and guidance to start a new company through customized programs that cover well-known subjects like mentoring, training, business development, innovation, sales and marketing, legal, financial, and technical assistance.
You will typically be requested to plan and organize in order to reduce significant risks or surprises after receiving the necessary support and before your firm graduates from an incubator or accelerator. The following list of five actions is a must-do list for business founders before they exit incubators:
- Analyze your circumstances and pinpoint the fundamental difficulties you are facing.
- Do your study and look for any prospective answers that can assist you in getting through these difficulties.
- Make sure you have all the legal and financial documentation and approvals required.
- Ensure every employee is aware of the upcoming changes and prepared to take on new responsibilities.
- Along the journey, be ready for unforeseen setbacks and ensure you have a strategy to cope with them.
You can take a few actions to avoid startup errors. The first step is ensuring you have a detailed business strategy and the resources necessary to launch and operate your company. The ideal course of action would be to assemble an experienced team to assist you with your business, ensure you can quickly and effectively carry out your ideas, and be ready to confront the difficulties of beginning a new company. Ensure your finances are stable and you will put much effort into succeeding.
Investing in the Kingdom of Bahrain
The Bahraini government is concentrating on the digital economy and fintech to ensure a sustainable future for future generations. One of the most prominent fintech centers in the area is Bahrain FinTech Bay, an essential undertaking centered on funding innovation through possibilities for education, business accelerators, and advanced labs.
The Labour Fund Tamkeen, established in 2006 by the Kingdom of Bahrain to encourage investment in innovation, assists entrepreneurs and startups by providing training programs for individuals and financial backing for businesses in their first stages of development. The Fund has launched 339 activities and assisted over 183,000 people and 51,000 organizations from its creation through October 2018, spending BD130 million on financial help in only 2018 alone.
Advantages of setting up startups in Bahrain
1. Free Taxes
There is no corporate or individual income tax in the Kingdom of Bahrain, although there is a 10% VAT. However, if you export your products and services, the rate will likewise be zero, so you won’t be required to pay capital gains taxes.
2. Full Ownership of Foreigners
In contrast to many other MENA nations, Bahrain does not require a local to be a shareholder or co-founder when registering a company. A foreigner may also be the sole owner of the property.
3. Freedom
Bahrain is one of the most open and liberal nations in the region, and the government actively supports businesspeople by establishing hospitable environments that encourage their investments. Bahrain was deemed the freest economy in the Middle East in 2012 by the Index of Economic Freedom Foundation. The Kingdom was rated as having the 12th most favorable environment for capital investments and foreign business owners internationally in this nomination.
4. The Possibility of Establishing the Company Remotely
In Bahrain, a corporation can be established without an individual visiting. Opening a business and its bank account can be done online.
5. Ease of Obtaining Visa and Residence
In Bahrain, obtaining a visa or residence permit is simple and affordable due to the lack of severe visa or residency restrictions, which allows for greater freedom of movement for foreign investors and businesspeople.
6. Bahrain is a Hub for Startups
Bahrain is an ideal spot for anyone looking to launch a firm. The largest fintech cluster in the MENA area, Fintech Bay, was founded in 2018 by the Bahraini government.
7. Hague Convention Apostille
Being a signatory to the Hague Apostille Convention, Bahrain is exempt from the expensive requirement of attesting papers, substantially facilitating communication with other nations, counterparties, and financial institutions.
8. The luxury of living in Bahrain
Bahrain has a sophisticated business, financial, and entertainment infrastructure. Bahrain is an excellent destination to live and work in because of the large, comfortable, and stylish living and working spaces, the high-quality services, and the affordable electricity rates.
What You Should Know Prior to Bahrain Company Registration
1. Laws for Commercial Companies
The nation’s government approved it during the twenty-first century’s first decade. It is continuously modified to accommodate new approaches to structuring issues about forming private firms, their organizational structure, and their management.
2. Memorandum and Articles of Association
A memorandum of association is a contract between shareholders that outlines the organization’s operations, registered office, and capital. The mechanism of profit sharing inside the corporation is also described, along with information on the directors and shareholders.
3. Bahraini Legal Framework
Bahrain’s legal framework combines parts of Sharia and civil law. Sharia courts may decide on Muslim-related concerns; thus, it is crucial to pay close attention and find solutions to all issues with the assistance of knowledgeable professionals.
4. Financial Statements
Bahraini businesses are required to disclose the financial outcomes of their operations as well as profit information. Companies must also disclose any changes to their directors, owners, or share allocations and any changes to their legal or physical addresses.
5. Licence
All companies registered in Bahrain must obtain a license based on their primary activity. A mandatory registration requirement is introduced for some goods, such as medicines, cosmetics, medical equipment, and food.
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