Al Waha Fund Of Funds And Hambro Perks Launch A Fintech Venture Studio In ManamaHP Spring Studios is expected significantly enhance the region's fintech ecosystem, as well as improve the way people save, send, lend, manage, and invest their money.
You're reading Entrepreneur Middle East, an international franchise of Entrepreneur Media.
Bahrain Development Bank'sAl Waha Fund of Fundsand international investment firmHambro Perkshave announced the launch ofHP Spring Studios, billed as the MENA region's first fintech venture studio.
Based out Manama, Bahrain, HP Spring Studios will both co-found and invest directly into next generation fintech startups. It will focus on attracting highly skilled international talent and also on training local talent through upskilling, internships, and educational initiatives in partnership with local institutions.
Areije Al Shakar导演和基金经理Waha, expects that bothlocal and international entrepreneurs将受益于一个弗林特吗ech friendly regulatory environment in Bahrain and its close relationships with the Central Bank of Bahrain and Bahrain Economic Development Board.
Related:How Crowdfunding Can Finance The Future In Bahrain (And Beyond)
"There are many problems to solve within fintech in the region, and my first tip would be to take advantage of the forward-thinking regulatory framework in Bahrain and the other regulators across the region," Al Shakar says. "There is strong investor sentiment and belief in thegrowth of this regional market, so take the leap forward and start your business. There has never been a better time to be in fintech, especially after COVID-19 accelerated the uptake and acceptance of fintech solutions. The support is there, entrepreneurs need to take the leap."
Startups will work closely with Al Waha and Hambro Perks' local and global network of private and public institutions, including National Bank of Bahrain, Mumtalakat, and Batelco, to drive customer traction and secure future funding rounds to exit.
Al Shakar added that while Al Waha Fund of Funds was founded to help startups overcomechallenges around access to funding, HP Spring Studios is expected significantly enhance the region's fintech ecosystem, "not only empowering startups, but also helping to materially improve the way people save, send, lend, manage, and invest their money."
