The fourth edition of Cloud 10 Scalerator Program Pitch Day kicked off on a high note yesterday, i.e. March 28, 2018. Organized by C5 Accelerate under the patronage of H.E. Shaikh Mohammed Bin Essa Al Khalifa, the event was designed to complement Bahrain’s ongoing efforts to boost its domestic FinTech ecosystem and turn the Kingdom into a hotspot for technological innovation.
The Cloud 10 Scalerator program was launched in 2016 by C5 Accelerate in collaboration with Amazon Web Services, Bahrain Economic Development Board (EDB), and Tamkeen (labor fund). The key objective of the program is to make sure that promising startups in the region are equipped with all the knowledge, motivation, and resources to make it to the big leagues in the global arena.
In addition to a number of other perks, the program also includes AWS credits and custom professional support that enables participants to switch to high-quality cloud infrastructure and transcend the barriers of having to own and manage expensive and complicated in-house IT resources.
The cohort representing the program this year included five promising regional and global FinTech startups that use Amazon Web Services to scale their technologies in e-payments, Middleware Vendor Management, Wealth Tech.
The founders of these startups pitched their products and business plans to a rather impressive turnout consisting of local and international investors and industry stakeholders.
The last edition of the Cloud 10 Scalerator program was held over a period of eight weeks and it offered the participating startups with complete training in multiple parts of building, grooming and expanding a business including commercialization, operations, and venture funding, just to name a few.
“We are proud to be part of the set-up of this great Bahraini accelerator. It gives Tamkeen great satisfaction to see this cohort graduating from the program and ready to pitch their ideas,” said, Qusay Alarayedh, Chief Operating Officer at Tamkeen said.