Bahrain tops London and Silicon Valley for percentage of female startup founders

Agencies
June 18, 2019

Bahrain, Jun 18: Bahrain is one of the top 10 startup ecosystems with the largest share of female founders, according to the 2019 Global Startup Ecosystem Report (GSER), launched at the recent TNW conference in Amsterdam.

Described as 'the world's most comprehensive and widely-read research on startups', the report is produced by Startup Genome in partnership with the Global Entrepreneurship Congress.

India enjoys a thriving international partnership with Bahrain in many sectors. As for FinTech, the Bahrain Economic Development Board recently signed an MOU with the Government of Maharashtra, for cooperation on the promotion of FinTech in their respective markets.

Indian Companies such as Rsquare Technologies and Innosoft, are currently residing at Bahrain FinTech Bay (BFB). BFB is rapidly gaining international recognition as a FinTech leader, with a number of key companies like Visa partnering with the organisation. Bahrain also continues to be the region's leading financial services hub, through its forward-thinking regulation including the regulatory sandbox, crypto-assets, and open banking.

With 18 per cent of its start-ups founded by women, Bahrain topped even internationally recognised startup hubs such as Silicon Valley (16 per cent) and London (15 per cent). The report also lauded Bahrain as:

* one of the top 10 ecosystems to watch in FinTech in Europe and the Middle East

* A top 15 Global Ecosystem for affordability of qualified talent.

"This report draws on the views of the people who know best - entrepreneurs and founders. In a very short time Bahrain has emerged as a leading ecosystem with particular strength in FinTech. With both female founders and women taking leadership roles throughout the ecosystem, Bahrain is a dynamic and diverse market at the head of new trends that are shaping the way society and business operates", said H.E. Khalid Al Rumaihi, Chief Executive of the Bahrain Economic Development Board.

"Over the past decade, Bahrain's startup ecosystem has made significant progress where start-ups can access a global network of partners to scale up and capture opportunities in Bahrain and the region", said Dr Ebrahim Mohammed Janahi, Chief Executive of Tamkeen (Bahrain's Labour Fund).

Dr Janahi pointed out one of Bahrain's key competitive advantages in the region, which lies in its firm belief in the importance of women as an active player in shaping Bahrain's economic future.

"In line with these national objectives, Tamkeen has launched a number of ad-hoc programmes to foster the development of female-owned businesses in addition to Tamkeen's flagship programmes supporting individuals and enterprises." he added.

According to Dr. Janahi, more than 59 per cent of women have been served as part of Tamkeen's micro finance support, while more than 50 per cent were served within the business development program, which offers a co-financing service to cover 50 per cent of business equipment.

The Kingdom has a long history of women in senior leadership positions. Currently, a group of female leaders in FinTech is helping to steer the country's FinTech strategy.

Leading female Bahraini startup founders include Hala Sulaiman and Ameera AlQubaiti, Co-founders of Alrawi, a successful audiobook startup and Pitch@Palace Global 3.0 People's Choice 2018 Winner.

Furthermore, Bahrain's Al Waha Fund of Funds, a $100 million fund set up by the Bahrain Development Bank, has an all-female leadership.

The report also recognised Bahrain as a Top 15 Global Ecosystem for affordable talent. Bahrain boasts one of the most skilled and entrepreneurial workforces in the region, over 60 per cent of which work in the private sector.

Meanwhile, Amazon Web Services' AWS Educate training scheme is providing Bahrainis with the necessary skills for cloud-based jobs. Interestingly, it's estimated that more than 60 per cent of computer science students at the University of Bahrain in 2018 were women.

Bahrain's tax regime - the most liberal in the Gulf - and wage subsidies for new employers emerged as real differentiators among the key draws highlighted in the report. The report reflects the views of more than 10,000 founders and draws on data from over one million companies. It ranks the highest-performing startup ecosystems, cities and regions by assessing performance against the following factors:

This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
June 26,2020

New Delhi, Jun 26: "Iam Indira Gandhi's granddaughter, not an undeclared BJP spokesperson like some of the opposition leaders," Congress general secretary Priyanka Gandhi Vadra on Friday said, as she alleged that the Uttar Pradesh government is threatening her through various departments for speaking the truth. Priyanka Gandhi's dare to the Uttar Pradesh government came days after the Agra administration asked her to withdraw within 24 hours the claim of high coronavirus deaths in the district.

The Congress general secretary in-charge UP East has accused the Yogi Adityanath government of indulging in propaganda instead of dealing with the pandemic. "As a public servant, my duty is towards the people of Uttar Pradesh. And this duty is to put out the truth before them and not to put forth government propaganda. The UP government is wasting its time by threatening me through its various departments," Priyanka Gandhi said in a tweet in Hindi.

"They can take whatever action they want, I will keep putting forth the truth. I am Indira Gandhi's granddaughter not an undeclared BJP spokesperson like some of the opposition leaders," she said. This week, Priyanka Gandhi repeatedly attacked the Uttar Pradesh government over the "high" COVID-19 mortality rate in Agra and on other issues related to the state government's handling of the pandemic.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
March 6,2020

Riyadh, Mar 6: Saudi Arabia on Thursday emptied Islam's holiest site for sterilisation over fears of the new coronavirus, an unprecedented shutdown state media said will last while the year-round Umrah pilgrimage is suspended.

The kingdom halted the pilgrimage for its own citizens and residents on Wednesday, on top of restrictions announced last week on foreign pilgrims to stop the disease from spreading.

State television relayed images of an empty white-tiled area surrounding the Kaaba -- a large black cube structure inside Mecca's Grand Mosque -- which is usually packed with tens of thousands of pilgrims.

As a "precautionary measure", the area will remain closed as long as the umrah suspension lasts but prayers will be allowed inside the mosque, state-run Saudi Press Agency cited a mosque official as saying.

Additionally, the Grand Mosque and the Prophet's Mosque in the city of Medina will be closed an hour after the evening "Isha" prayer and will reopen an hour before the dawn "Fajr" prayer to allow cleaning and sterilisation, the official added.

A group of cleaners was seen scrubbing and mopping the tiles around the Kaaba, a structure draped in gold-embroidered gold cloth towards which Muslims around the world pray.

A Saudi official told news agency the decision to close the area was "unprecedented".

On Wednesday, Saudi Arabia suspended the umrah for its own citizens and residents over fears of the coronavirus spreading to Islam's holiest cities.

The move came after authorities last week suspended visas for the umrah and barred citizens from the six-nation Gulf Cooperation Council from entering Mecca and Medina.

Saudi Arabia on Thursday declared three new coronavirus cases, bringing the total number of reported infections to five.

The umrah, which refers to the Islamic pilgrimage to Mecca that can be undertaken at any time of year, attracts millions of Muslims from across the globe annually.

The decision to suspend the umrah mirrors a precautionary approach across the Gulf to cancel mass gatherings from concerts to sporting events.

It comes ahead of the holy fasting month of Ramadan starting in late April, which is a favoured period for pilgrimage.

It is unclear how the coronavirus will affect the hajj, due to start in late July.

Some 2.5 million faithful travelled to Saudi Arabia from across the world in 2019 to take part in the hajj, which is one of the five pillars of Islam as Muslim obligations are known.

The event is a massive logistical challenge for Saudi authorities, with colossal crowds cramming into relatively small holy sites, making attendees vulnerable to contagion.

Already reeling from slumping oil prices, the kingdom risks losing billions of dollars annually from religious tourism as it tightens access to the sites.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
June 18,2020

New Delhi, Jun 18: India on Wednesday took strong exception to China claiming sovereignty over the Galwan Valley in eastern Ladakh, saying its "exaggerated and untenable claims" are contrary to the understanding reached on the issue between the two sides.

Ministry of External Affairs Spokesperson Anurag Srivastava's response came after China claimed that the Galwan Valley in eastern Ladakh is a part of its territory.

"As we have conveyed earlier today, External Affairs Minister and the State Councillor and Foreign Minister of China had a phone conversation on recent developments in Ladakh," Srivastava said late Wednesday night.

"Both sides have agreed that the overall situation should be handled in a responsible manner and that the understandings reached between Senior Commanders on 6th June should be implemented sincerely. Making exaggerated and untenable claims is contrary to this understanding," he said.

Earlier on Wednesday, India delivered a strong message to China that the "unprecedented" incident in the Galwan Valley will have a "serious impact" on the bilateral relationship and held the "pre-meditated" action by Chinese army directly responsible for the violence that left 20 Indian Army personnel dead.

In a telephonic conversation, External Affairs Minister Jaishankar conveyed to his Chinese counterpart Wang Wi India's protest in the "strongest terms" and said the Chinese side should reassess its actions and take corrective steps, the Ministry of External Affairs said.

The Chinese Foreign Ministry, in a statement, said the two sides agreed to "cool down the situation on the ground as soon as possible", and maintain peace and tranquillity in the border area in accordance with the agreement reached so far between the two countries.

The clash in Galwan Valley on Monday night is the biggest confrontation between the two militaries after their 1967 clashes in Nathu La in 1967 when India lost around 80 soldiers while over 300 Chinese army personnel were killed.

The India-China border dispute covers the 3,488-km-long LAC. China claims Arunachal Pradesh as part of southern Tibet, while India contests it.

Prior to the clashes, both sides have been asserting that pending the final resolution of the boundary issue, it is necessary to maintain peace and tranquillity in the border areas.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.