Flat6Labs Bahrain has officially begun the fifth cycle of its acceleration programme in the Kingdom. Eight startups have been selected to receive an investment of $32K each and to undergo the 4-month programme where they will benefit from high caliber training, coaching, and mentoring sessions in addition to other instrumental perks to further develop and grow their businesses.
The eight startups were chosen out of 20 in total who participated in a rigorous bootcamp last April after being shortlisted from over 200 applicants from Bahrain and around the world. The fifth cycle consists of startups offering promising solutions to gaps in the region’s market and cover sectors such as Construction, Ed-Tech, Virtual Reality, Entertainment, Pet care, Social Networking, Fitness, and more. The Cycle launch was held virtually and was attended by several key members of the Bahraini startup ecosystem.
Saleh Abbas, the Senior Program Manager of Flat6Labs Bahrain said: “In just over 2 years we have invested in 36 startups which have resulted in the creation of over 100 full time jobs. We are committed to continuing the growth of Bahrain’s startup ecosystem while ensuring our entrepreneur's health by going virtual for the first time this cycle. Going virtual has its own benefits such as accessibility to more world-class mentors, flexibility in organising a diverse range of training sessions, and allowing our international startups to participate from anywhere in the world.”
“At Flat6Labs we aim to inspire innovation, and despite these challenging times, we remain committed to continuing our work in shaping the startup ecosystem in the region.”
A cycle typically lasts 6 months, of which the first 2 are allocated to the application period. This is followed by the bootcamp, which consists of the shortlisted companies. The final stage is the selection of the startups which will receive funding and participate in the cycle program.
Through the intensive 4-month virtual developmental program, they will have access to the perks offered by Flat6Labs’ many partners and network throughout the MENA region, such as mentorship, networking opportunities, legal support, AWS credits, support with follow-on funding and more. The cycle will conclude with a Demo Day, where the startups will pitch their business models to investors, ecosystem partners, and stakeholders, in order to raise more funding.
2019 was a productive year for EdTech in MENA, as the industry witnessed more deals (29) and total funding ($20M) than any previous year. Access more data and trends in our new 2019 MENA Education Venture Investment Report.