Starts-ups serve as catalyst to development

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Vienna: Youth entrepreneurship serves as a catalyst to the prosperity and economic development, says the Minister of Industry, Commerce and Tourism.

On the sidelines of UNIDO’s 50th Anniversary celebrations the Minister of Industry, Commerce and Tourism was speaking as a key note speaker in a special Panel on Prosperity: Promoting Youth Entrepreneurship through Start-up, highlighted the importance of starts-ups and youth entrepreneurism.

During the UNIDO’s 50th Anniversary celebrations under the theme “Together for a sustainable future” and in conjunction with the 20th anniversary of UNIDO Investment and Technology Promotion Office in Bahrain, the Minister of Industry, Commerce and Tourism participated as a key note speaker in special Panel on Prosperity: “Promoting Youth Entrepreneurship through Start-ups”; which addressed the success of the Bahrain Model in promoting economic empowerment for youth. The event is organized by UNIDO – ITPO.

During the event, the Minister congratulated the UNIDO family on the 50th Anniversary of UNIDO and the 20th anniversary of UNIDO Investment and Technology Promotion Office in Bahrain, expressing his pride that the Bahrain model of entrepreneurship development, adapted by UNIDO as “UNIDO Enterprise Development & Investment Promotion program (EDIP)”, has gained wide acceptance and is currently implemented in forty-eight countries from Uruguay to China. The UNIDO Centre in Bahrain has invested lot of efforts to develop best practices in the sphere of entrepreneurship development and our presence here today is a testimony to applaud the significant work done by the Bahrain Investment & Technology Promotion Office of UNIDO.

The Minister noted that the route to sustainable development is through economic empowerment of the people and the level of success is directly proportionate to the support provided to development of the human capital. Developing a vibrant and dynamic small & medium enterprises sector requires motivated entrepreneurs who seek opportunities and challenge themselves to succeed and are able to take full advantage of the business development support in an enabling entrepreneurial ecosystem. The Vision of Leadership places the private sector at the forefront of economic development. We are proud to say that our entrepreneurial eco system is one of the best and the private sector in Bahrain has taken rapid strides under the able guidance and directions of our Leadership.

“The Government of Bahrain through the Ministry of Industry, Commerce and Tourism has embarked on a strategic partnership with UNIDO Investment and Technology Promotion Office and this partnership was strengthened through the establishment of the Arab International Center for Entrepreneurship & Investment in the year 2001. Today we are equipped to provide comprehensive support to budding entrepreneurs not only from Bahrain but also from a large number of developing countries.”

“The recognition granted to His Majesty King Hamad Bin Isa Al Khalifa and the large number of entrepreneurs supported through the Bahrain Model demonstrates that the strategy laid down by the Government of Bahrain and the vision of UNIDO coincide in achieving our common objective of inclusive and sustainable development.”

It was followed by awarding ceremony of the top three winners of the Global Start-up Business Plan Competition managed and organized by ITPO Bahrain. The official launch and handing over to UNIDO Bahrain of the Virtual Entrepreneurship and Innovation hub developed jointly between UNIDO Bahrain and Intel Corporation.

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