Batelco, the Kingdom’s leading integrated telecommunication services provider and Bahrain Development Bank (BDB), Bahrain’s leading Development Financial Institution, have joined hands to offer a great opportunity to aspiring entrepreneurs by holding a national contest to find the best innovative projects within the domain of Information Communication Technology (ICT).
The collaboration builds on the relationship established in 2012, when Batelco and BDB signed a strategic Memorandum of Understanding (MoU) to explore collaborations that support local Information Communication Technology (ICT) entrepreneurship initiatives and projects.
Aspiring entrepreneurs are invited to register by emailing their contact details to (technovation@batelco.com.bh). The contest organisers will respond with full details about how to enter and provide an application form.
The competition, which will allow young entrepreneurs to transform an idea into a working product or service in an innovative and creative way, is targeted at Bahraini nationals, 30 years of age or under, and also at existing businesses that have been in operation for 30 months or less. Participants are free to develop projects in any industry sector, as long as the outcome is an ICT product or service, which includes but is not limited to Software Application, Hardware Devices and Internet Web Sites. For the finished project the entrants must be able to demonstrate a prototype or working model of their innovations.
A number of individuals or teams will win prizes including free incubation services from BDB. Batelco will also offer selected individuals and / or teams the opportunity to use the Entrepreneurs Zone located at their innovation centre, ideas Centre, at Batelco Headquarters.
Batelco Group General Manager Media Relations Ahmed Al Janahi said that Batelco was very pleased to join hands with BDB, which is well known for its efforts to encourage entrepreneurs.
“Batelco has always embraced young innovators through a variety of initiatives aimed at encouraging ambitious entrepreneurs to materialize their business ideas with the help of experienced business consultants. To this end, Batelco recently launched its own innovation centre called the “ideas centre” which provides an entrepreneurs zone and opportunity for young developers to work on their ideas and develop them into commercial services,” he said.
“Furthermore, the collaboration between the two major Bahraini organisations also serves to benefit the Kingdom through both parties working together to support local ICT entrepreneurial projects,” Al Janahi, added.
“This competition adds value to the specialized programs and services provided by Bahrain Development Bank in terms of stimulating the development of entrepreneurship and promoting the concepts of innovation, according to the Vision2030. The information and communication technology sector is growing rapidly and has become an essential element in managing and operating all businesses making these supportive and stimulating programs for youth and Bahraini enterprises a remarkable investment for this sector,” Nedhal Saleh Al Aujan, CEO of Bahrain Development Bank, said.
Al Aujan also pointed out that this competition reflects the principle of partnership between the various institutions to support and develop the ideas of Bahraini youth with the aim of commercializing the projects that would in the future reward the economy and add value.
The filtering process for the competition will take place over two rounds with Batelco and BDB doing an initial screening in July following the deadline to submit entries, followed by the evaluation of the projects by Batelco, BDB and invited parties in August. The winners will be announced in the second week of September.