Bahrain FinTech Bay (BFB) has officially entered an agreement with the US State Department’s Middle East Partnership Initiative (MEPI), a special program dedicated to exploring emerging opportunities for citizens and organizations.
The primary objective of the new alliance between the two entities is to launch a virtual acceleration program dubbed “Build for Bahrain”.
The virtual accelerator program will focus on helping up-and-coming startups to drive rapid innovations and tackle the challenges in health and business continuity, which in turn will add to the Kingdom’s efforts to fully recover from the economic toll of the COVID-19 crisis. Additionally, the program will also help further strengthen Bahrain’s burgeoning digital economy.
Innovators and entrepreneurs across all industries and niches are eligible to apply for a spot in Build for Bahrain so long as they plan on building a locally designed solution to some of the problems facing the realms of health and business continuity.
A panel of experts will handpick up to 20 tech-powered ideas based on their merit. All shortlisted teams will then require to pitch their ideas to Bahrain FinTech Bay’s extensive network of investors, entrepreneurs, and business leaders. Additionally, these shortlisted teams will also receive incubation at BFB and mentored by leading industry experts.
In the next phase of the program, each team will require focusing on building an MVP (minimum viable product) before the demo day. The top-3 performers on the demo day will then receive funding to further improve their product and business model.