Tenmou, Bahrain’s first ‘Business Angels’, hosted the first Future Agro Challenge (FAC) in the Kingdom of Bahrain. FAC, is a featured event of Global Entrepreneurship Week, which works to make a difference on a global level by increasing interaction among agro innovators, entrepreneurs, and stakeholders by addressing national policies and challenges of the future of agriculture sector.
The aim of the global flagship event is to promote innovative agro start-ups and entrepreneurs to contribute to the success of agriculture and the food ecosystem in Bahrain. Eight start-ups participated in the challenge and were evaluated by a distinguished panel of judges from the agricultural sector.
Ebrahim Hameed, Green Path, walked away with the first prize, a flight ticket to Johannesburg, South Africa and three-months co-working space at Tenmou’s offices. He is scheduled to participate in the Global Championship in Johannesburg this March.
The runner up teams of the FAC were Sawsan Taher from Lily Organics, Ebrahim Almulla and Ali Isa from Green Sky and Jehad Jaffar from Food Plant Teabag who were offered 3-months of co-working space at Tenmou’s offices.
Commenting on the announcement, Hasan Haider, CEO of Tenmou said: “We are proud to have hosted the Future Agro Challenge, the first of its kind in the Kingdom of Bahrain. This is an important milestone achievement for Tenmou and our country. Our strategy at Tenmou, is to encourage and foster innovative start-ups in every sector. By hosting the FAC we have established a unique platform for the start-up enthusiasts mainly in the agricultural sector.
“We are proud to add Bahrain to the list of FAC’s global member countries and position the country as an active player in the international arena. During the challenge, innovative and promising agri, food and agroTech entrepreneurs presented simple fundable ventures to increase agricultural productivity and efficiency which made it tough for the strong line-up of judges to select the winners.”
This event was hosted by Tenmou with Alba as the Gold partner. The pitch competitions were held on 12 January 2017 at Tenmou’s offices on the 8th Floor of National Bank of Bahrain Tower.
GEW is identified as the world’s largest celebration of entrepreneurship aimed at bringing ideas to life, driving economic growth and expanding human welfare. By participating in GEW this year, Bahrain joined 160 countries from around the world and held various activities for potential and existing entrepreneurs during the week 14–20 November 2016.
The other series of flagship global events held during that week included the Start-up Weekend, the Global Start-up Battle, the Creative Business Cup, and Get in the Ring. The events focused on mentorship, funding of new and existing projects and scaling up for the existing entrepreneurs. More than 1,000 potential and existing entrepreneurs were in attendance.
Launched in 2011, Tenmou aims to support entrepreneurs with valuable business assistance, including financial investment, mentorship, advice and guidance. Tenmou recognizes that for many entrepreneurs, mentorship programmes can be as valuable as financial investments. Each project receives practical advice and training from the company’s board members, who bring with them a wealth of business experience. These training sessions expose the entrepreneurs to real business situations and are conducted in the form of workshops, on a regular basis.
Established with a start-up capital of BD1 million (US$2.7 million),Tenmou invests an average of BD20,000 – 30,000 for a stake of on average 20% – 30% in each project that meets its criteria, and will provide a three-month mentorship period, including support services, at no cost to the entrepreneurs.