NEWS
HE the Minister of Finance and National Economy: Entrepreneurship Drives a Competitive and Sustainable Economy
His Excellency Shaikh Salman bin Khalifa Al Khalifa, Minister of Finance and National Economy and Chairman of the Board of Directors of the Bahrain Mumtalakat Holding Company, attended the closing ceremony of the “Startup Bahrain – University of Bahrain” competition.
During his remarks at the ceremony, HE emphasised that Bahrain’s progress in entrepreneurship and startup development is a testament to the visionary leadership of His Majesty King Hamad bin Isa Al Khalifa and the guidance of His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister.
His Excellency highlighted that national policies and initiatives aimed at enhancing the business environment, fostering innovation, and boosting productivity have cultivated an economy where creativity thrives, talent is nurtured, and every Bahraini is empowered to contribute to shaping the future.” He underscored that the “Startup Bahrain – University of Bahrain” competition reflects a profound belief in Bahrain’s greatest asset: the talent, creativity, and ambition of its people.
The ceremony, held at the University of Bahrain, gathered ministers, senior officials, partners, academics, entrepreneurs, and students.
HE praised Tamkeen’s pivotal role, led by His Highness Shaikh Isa bin Salman bin Hamad Al Khalifa, in supporting programmes that develop national talent and entrepreneurship, contributing to an innovation-driven economy. He also recognised the efforts of His Excellency Dr. Mohammed bin Mubarak Juma, Minister of Education and Chairman of the Board of Trustees of the University of Bahrain, for aligning academic outcomes with market needs.
Additionally, he expressed gratitude to the programme’s partners, including the Bahrain Economic Development Board (EDB), Mumtalakat, the Ministry of Industry and Commerce, Bahrain Development Bank (BDB), and the University of Bahrain, for their commitment to strengthening the startup ecosystem.
HE noted that the competition serves as a successful model for encouraging Bahraini youth to innovate and transform ideas into entrepreneurial ventures that drive economic growth and enhance Bahrain’s competitiveness regionally and globally. He added that Startups are now key drivers of economic growth, job creation, and the development of new industries.
HE emphasised the importance of continuously improving the ecosystem available to entrepreneurs at every stage of their business journey, from ideation to market access.
Announcing a significant development for future students, HE revealed that starting next year, participation in the “Startup Bahrain – University of Bahrain” competition will be a graduation requirement for students in the College of Business Administration at the University of Bahrain. He described this move as a strong endorsement of entrepreneurship, creativity, and innovation, reflecting confidence in the ability of every Bahraini student to lead and succeed.
HE further added that three years ago, with the support of HRH the Crown Prince and Prime Minister, initiatives were launched to establish a foundation for this vision, including monthly startup pitch competitions that allow finalists to compete for the title of “Startup of the Year” and secure equity investment from Mumtalakat. This initiative aims to transform ideas from classrooms into viable companies and jobs.
For his part, HE Dr. Mohammed bin Mubarak Juma expressed gratitude to HE Shaikh Salman bin Khalifa for his ongoing support of the programme, emphasising its role in enabling young talent to venture into entrepreneurship and turn innovative ideas into viable businesses. He noted that the University of Bahrain has implemented the programme with the help of a dedicated team, in coordination with Tamkeen and Startup Bahrain.
Dr. Mohammed praised the programme as a leading platform in Bahrain for supporting startups, connecting innovators with investors, and providing specialised training and growth opportunities. Over 1,000 students participated, demonstrating unprecedented engagement and enthusiasm.
During the ceremony, winners were announced: the startup “ResQ” claimed first place, followed by “Loop” in second and “Durra” in third. Several partner-sponsored awards were also presented, including the Kuwait Finance House (KFH) Award to “Naama,” the GFH Group Award to “Loop,” the Reboot Award to “ilm,” the General Assembly Bahrain Innovation Award to “Tamayuz,” and the Doo Award to “Aucter.”
Tamkeen’s support for the initiative aligns with its 2026 strategic priorities, which focus on enhancing private sector competitiveness, aligning skills with labour market needs, and adopting innovative approaches to stimulate startup growth and prepare Bahraini youth for economic contributions.
Held from 12 to 17 May 2026, the programme attracted students from various academic disciplines, guiding them through a comprehensive entrepreneurial journey that included team formation, idea development, prototype creation, mentorship sessions, workshops, and final presentations before a panel of judges and representatives from Bahrain’s entrepreneurial ecosystem.
The initiative also enhanced experiential learning by awarding students academic credit linked to their progress in the programme, simulating the real startup development process from idea validation to investor pitching.
The final round concluded with 10 teams receiving awards funded by Tamkeen to support their venture development, alongside additional prizes from partner organisations to encourage future growth.
Maha Abdulhameed Mofeez, Chief Executive of Tamkeen, stated that such initiatives equip Bahraini youth with practical skills and experiences necessary for entrepreneurship, boosting their confidence to transform ideas into scalable businesses. She reaffirmed Tamkeen’s commitment to developing national talent and enhancing youth participation in the private sector.
Dr. Fuad Mohammed Al Ansari, President of the University of Bahrain, emphasised that students’ performance throughout the programme highlighted the value of practical educational experiences in developing skills beyond traditional academic realms, preparing them for entrepreneurial and professional pathways.
Overall, the “Startup Bahrain – University of Bahrain” programme attracted over 1,000 students from more than 160 teams, with 91 startups advancing to the semi-finals and 10 teams reaching the finals. The ceremony concluded with the announcement of the winning teams and recognition of participants and supporters for their contributions to the programme’s success.
