Flat6Labs Bahrain announced late last week that eight startups graduated from the latest cycle of its four-month acceleration program. Each of these startups has now received an investment worth $32,000 following this success.
All eight graduates from the sixth cycle participated in the accelerator program’s Demo Day on Feb 23.
More than 200 applicants from over 50 countries applied to be a part of the cycle, of which, only eight were shortlisted following rigorous screening. Collectively, the shortlisted startups represented a diverse range of industries including FinTech, entertainment, e-commerce, PropTech, and enterprise software.
“This has been one of our most interesting cycles as it includes innovative startups that have already achieved traction or are ready to be deployed in the market, including fintech startups with fascinating concepts,” said Ali Fakhro, managing director of Flat6Labs Bahrain.
“With the support of our partner Tamkeen, we have invested $1.4m in 44 startup companies integrated in Bahrain. We look forward to continuing our integral work in supporting the growth of the Kingdom’s startup ecosystem.”
Over the past three years since launch, Flat6Labs Bahrain has helped create more than 200 jobs in the Kingdom, while also investing thousands of hours in coaching and mentoring promising startups. As for funding, startups under Flat6Labs Bahrain’s wings have collectively raised follow-up funding worth over $2,200,000.