Minimum Viable Product (MVP) Scheme

  • Details
  • How it works
  • Terms & Conditions

MVP Scheme is a development support in which start-ups can benefit of a grant support from Tamkeen towards the development, design and testing of a first product.

Who can apply

Start-ups with the following criteria:

  • Bahraini Founders with a Bahraini registered Enterprises
  • Bahraini individuals with virtual CRs
  • Having no more than 1 year of operation
  • Turnover not exceeding BHD 10,000
  • Working on innovation, development, deployment, and commercialization of new products, process, or services driven technology or intellectual property.
  • Demonstrating enough potential to scale up
  • Having enough value for potential customers or business channel to market

Eligibility of the enterprise will be based on the following factors:

  • Innovative business idea, not readily available in the market, that serves a gap in the market.
  • High potential for scalability and growth
  • A strong and committed team
  • Proper planning and strategy building
  • Market potential and size of the target market

 Benefits 

  • Allows start-ups to fully realize their product by the creation of a prototype
  • Enhances credibility of investment pitches with availability of realized product
  • Fill in and submit the Application Form through Tamkeen website 
  • Documents required:
    • Credible Market Verification
    • Expense Sheet against milestones (Please click here to download the template).
    • Brief about the project
    • Copy of national ID/Passport
    • CR copy
    • Resumes of the team members
  • Application process
    • Applications must be complete with complete required documents for consideration
    • Everything to be submitted online
  • Assessment process
    • Initial screening of applications will be conducted
    • Conduct interviews with qualified applications
    • Tamkeen determines the funding percentage per applicant using the evaluation model
    • Tamkeen determines the percentage of the cap a start-up to be offered based on funding criteria and advisory committee advice.
    • The evaluation criteria are broken down 5 categories: Innovation (30%), Market Potential (20%), Business Model (25%), The team (15%), and Other (5%). The role of the committee is to advise Tamkeen in the assessment process and will be made up of the following members: Tamkeen, EDB, and Market Experts.
  • Payment process
    • Must create a verified account with Tamkeen (through CES)
    • Input verified IBAN
    • Once selection committee grants approval to startup, startup submits invoice for payment with a copy of approval and any requested support documents