Tamkeen and Falak Consulting introduce the ScaleUp! program to empower Bahraini startups

As part of the Labour Fund (Tamkeen’s) continuous efforts to grow and develop the entrepreneurial ecosystem in the Kingdom of Bahrain, and to provide various support bundles to Bahraini entrepreneurs from various enterprises and sectors Tamkeen has announced its partnership with Falak Consulting to launch ScaleUp!, an innovative new program aimed at empowering emerging Bahraini enterprises with strategic business development skills. The program is being launched in partnership with Strategy Sims which aims to enhance the capabilities of startups in Bahrain and help them grow, attract investors, and develop strategies through a training simulation to develop a startup experience. 

The Program will last for three days, through which participants in ScaleUp! will engage in an immersive simulation experience which mirrors the journey of developing a startup and will guide them through every stage of establishing a new business, from conception to developing exit strategies. They will grapple with real-world challenges such as crafting business strategies, navigating competition, securing investment, managing liquidity crises, and exploring exit strategies. The program will cover vital topics including financing structures, business models, investor presentations, equity calculations, and long-term capital planning. 

Tamkeen Chief Executive, Her Excellency Ms. Maha Abdulhameed Mofeez said, 

“At Tamkeen, we are committed to nurturing the Kingdom’s entrepreneurial ecosystem and supporting emerging projects,” said Her Excellency Ms. Maha Abdulhameed Mofeez, Tamkeen Chief Executive on the occasion.  

“Whether through financial backing or innovative training solutions, our aim is to equip entrepreneurs with the skills they need to succeed, thereby fostering private sector growth and driving economic development.  

“This collaboration with Falak Consulting provides a valuable opportunity for startups and entrepreneurs to gain knowledge on the various stages of the business cycle, and exchange ideas and experiences with other entrepreneurs, which enhances their ability to succeed and achieve their goals.” 

Open to Bahraini startups, registration for the program begins on 4th -21st April 2024 through the link https://www.falakinnovation.com/the-scale-up-workshop.  

Projects must present a viable idea or service for the local or regional market and be based in Bahrain with an active commercial registration. Angel investors, accelerator programs, venture capitalists, and ecosystem developers are also invited to register. 

“The ScaleUp! program offers a cutting-edge training model within an interactive environment, fostering skill enhancement and innovation in a dynamic setting,” added Falak Consulting Founder and CEO Mr Suhail Ghazi Algosaibi on the occasion. 

“We are delighted to partner with Tamkeen in delivering this program, which will cultivate a pool of talented individuals capable of launching successful ventures and driving entrepreneurship in the Kingdom.” 

The launch of ScaleUp is aligned with Tamkeen’s 2024 strategic priorities focused on economic impact and the private sector under three pillars; increasing economic participation by creating employment opportunities for new market entrants, expanding career development opportunities available to the Bahraini workforce, and further developing the private sector by supporting enterprises and boosting productivity and the adoption of technology.