The show aims to shed light on success stories and facilitate the co-investment of high-potential businesses alongside the private sector.
Beban, Bahrain’s first entrepreneurship-themed reality show produced by Hope Ventures, the investment arm of Hope Fund, has selected 14 promising businesses from the United Arab Emirates to advance to pitch their business for equity investment opportunities on season 2 of Beban TV show.
According to Bahrain News Agency (BNA), the selection follows the announcement of the show’s expansion to the UAE through Hope Ventures’ partnership with the UAE’s Ministry of Economy and The Entrepreneurial Nation to accelerate the growth of entrepreneurs and SMEs across the region.
In preparation for the show, the shortlisted entrepreneurs will receive training through a customised bootcamp delivered by international venture capital startup accelerator “Brinc Mena”.
Through their participation in the bootcamp, UAE-based entrepreneurs will further develop their businesses before getting to pitch for equity investment and strategic business development opportunities on Beban 2.
“The businesses we have shortlisted from the UAE are of a promising caliber, and the bootcamp will support them in their preparations to be part of the show,” General Manager of Hope Ventures Fajer Al Pachachi said.
“Our expansion to the UAE is aligned with our efforts to empower businesses to scale in regional and international markets and strategically accelerate their growth.
“We are excited to have begun witnessing cross-border knowledge and expertise sharing among UAE and Bahrain entrepreneurs.” Managing Partner, and Chief Development Officer at Brinc Mena Yasin Aboudoud, said they have been impressed by the progress of the Bahraini participating companies during the bootcamp.
“We are excited to expand that work with more promising companies in the UAE, as well as to continue supporting Beban and Hope Ventures’ mission to create more investment possibilities for these young companies and founders,” he said.
Hope Ventures expressed gratitude to Shaikh Nasser bin Hamad Al Khalifa, Representative of His Majesty the King for Humanitarian Work and Youth Affairs, for his guidance and unwavering support that led to the creation and development of Beban, which contributes to the shaping of a robust, regional investment ecosystem.
Hope Ventures is the investment arm of Hope Fund, a fund established by the directives of His Majesty King Hamad bin Isa Al Khalifa and in accordance with the directives of Shaikh Nasser, with the vision to support youth projects and initiatives.
Hope Ventures invests in promising Bahraini businesses and strategically accelerates their growth internationally.
Beban has partnered recently with Beyon Money, for its second season airing at the end of the year.
The show aims to shed light on success stories and facilitate the co-investment of high-potential businesses alongside the private sector. Its first season resulted in a commitment of 5 deals worth over $1,000,000 in total and $120,000 worth of advance orders. The second season is envisaged to be bigger and more exciting, as its expansion to include entrepreneurs, investors, and partners from the United Arab Emirates was recently announced.
Beyon Money is a super-app that offers its users a wide range of financial products and services in a single app. Given their impactful role in growing Bahrain’s FinTech ecosystem, it is expected that this partnership will reflect positively on Beban’s shortlisted entrepreneurs as Beyon Money plays an active role in sharing knowledge and providing mentorship through Beban’s bootcamp and throughout the show’s phases.
Fajer Al Pachachi, General Manager of Hope Ventures said: “We promised that season 2 is going to be bigger and more exciting, and with partners like Beyon Money, who are catalysts of innovation in the Kingdom, we’re further empowered to deliver that promise. Technology is an important sector to Beban, Bahrain, and the world and through our strategic partnership with Beyon Money, technology businesses on Beban will have access to knowledge and expertise that supports them as they prepare to pitch to investors”.
Roberto Mancone, Chief Executive Officer, at Beyon Money said: “Beyon Money is delighted to partner with Beban and support their efforts in developing the entrepreneurial environment in Bahrain. We look forward to working with the shortlisted entrepreneurs through mentoring sessions, hoping to inspire impactful digital journeys and turn their business ideas into success stories.”