Flat6Labs Bahrain, an accelerator programme and seed investment company, has achieved several milestones ever since its launch in 2018 that include creating jobs, supporting startups and the local ecosystem, in addition to raising awareness on entrepreneurship in Bahrain.

 

The company has also fostered an environment of engagement with youth and women through community engagement activities, supporting its portfolio with securing follow-on funding and more.

 

Flat6Labs Bahrain is now holding its first Digital Demo Day for its 4th Cycle where seven innovative startups will be presenting their businesses virtually to hundreds of registered online attendees. A note here that this is the company’s fourth successful cycle since inception.

 

The 4th Cycle includes startups addressing problems with unique solutions across an array of industries including Telehealth, Education & Student Services, F&B, Lifestyle Applications, Fashion Tech, Exergaming, and Fitness Applications. All the startups have technology at their core and are ready to showcase their product to potential investors, the media and the greater business community.

 

 

Flat6Labs Bahrain has contributed to the economic growth of Bahrain by not only investing in innovative and youth-led businesses, but creating jobs as well. Together with its 28 companies, over a 100 full-time jobs and more than 70 internships have been created.

 

Out of more than 1,100 applications that were received by Flat6Labs Bahrain, a total of 28 companies (both Bahraini and international) have graduated from the programme with a $32,000 seed investment, as well as rigorous training, coaching and mentoring that have enhanced their business development and product/services offered.

 

Several of these have gone on to receive much traction and become renowned names in the Kingdom’s startup ecosystem such as Inagrab, Telp, Sinc, Majra, Tamarran, Akalati and Springring.

 

Through its expansive network of venture capitalists in the region including Faith Capital, 500 Startups and Arzan VC; the accelerator has successfully supported several of its portfolio companies in raising a collective sum of $1.6 million in follow-on funding; over a 2x multiplier of the initial invested amount. 

 

Furthermore, the accelerator has played a key role in inspiring youth towards entrepreneurship through its community outreach by partnering with local universities and professional institutes and conducting workshops to educate the public on startups.

 

Flat6Labs offers its space for free for ecosystem events, participating in key ecosystem activities, mentoring through programmes such as Injaz, Mashroo3i and Intelaaq, speaking at panel discussions related to startups, youth and women, sponsoring prizes in startup competitions by offering a seat in the Cycle Bootcamps, and organising its own community events such as its Women in Startup panel during GEW 2019.

 

The accelerator has worked strategically to expand its network by consistently fostering new partnerships with public and private sector stakeholders. Its two main partners are Tamkeen and EDB. Flat6Labs Bahrain has also forged over 40 partnerships with companies including Zain Bahrain (official Telecom Partner), AWS, Microsoft, GAN, Bahrain Fintech Bay, Tenmou, Charles Russell Speechlys, BIBF, Ahlia University, University of Bahrain, Royal University for Women, Arabian Gulf University, and many more.

 

Pakiza Abdulrahman, Head of Startups at the Bahrain EDB, says: “Flat6Labs Bahrain is a key contributor to the kingdom’s fast-growing startups ecosystem. It achieves tangible results for its portfolio companies – whether they be innovative homegrown, Bahraini startups or international entrepreneurs seeking a regional base to grow and scale their ideas and businesses. These local and international startups are the backbone of our ecosystem. I look forward to congratulating many more Flat6Labs Bahrain graduates in the years to come.” –Tradearabia News Service