New service launched for local start-up companies

Manama : Business accelerators and incubators in Bahrain will now be able to officially register startup companies under the new service launched by the Ministry of Industry, Commerce, and Tourism, according to reports yesterday.

Minister of Industry, Commerce and Tourism, Zayed Rashid Al-Zayani announced the new programme at a press conference in Manama held yesterday.
“We have a lot of entrepreneurs in Bahrain with a number of ideas for projects. They need to be coached by mentors, and they also need to be helped with finance and other supports. The incubators will provide them with all the support they need. The goal is to take their idea and help them develop into successful projects.” said Osama Mohamed Al Arrayedh, Undersecretary for Industry Affairs at Ministry of Industry, Commerce and Tourism, adding that if anyone wanted to establish an accelerator, they can go to Sijilat portal for further steps.
Director of SMEs Development at Ministry of Industry, Commerce and Tourism Shaikha Abdullah Al Fadhel said that this will help develop a startup ecosystem in Bahrain. “This concept has been proven in the USA and other countries, and we believe this will help Bahrain in many ways. Helping budding entrepreneurs grow and actualize their true potential is the top priority for us,” he said.
During the press conference, the minister also announced on recognising another business activity called ‘food truck activity’ . Businesses registering for the ‘food truck activity’ will be allowed to sell food from trucks. They will not require investment in putting up shop facilities.
For acquiring the licence, the applicant must be a Bahraini national. The applicant must also have fulfilled the requirement of an approval from the concerned authorities on the facilities provided in the truck, especially specified in interior design of the truck.
However, entrepreneurs will not have the right to bring in foreign workers, said the ministry officials.