Entrepreneurship-themed reality television show Beban is expanding its third season to Saudi Arabia, it has emerged.
Hope Ventures, the investment arm of Hope Fund and producer of Beban, announced that this follows its partnership with Saudi-based GFH Capital.
Saudi-based businesses can apply for season 3 online through hopefund.bh/beban by July 23.
The expansion comes in line with GFH Capital’s efforts to support Saudi-based businesses in their entrepreneurial journeys and provide them with the tools, resources, and networks needed to grow and scale across the region.
Having aired for two seasons, Beban featured a total of 62 businesses of various sizes and resulted in successful co-investments by the private and public sectors exceeding $6 million in GCC-based startups.
Through the partnership, GFH Capital will sponsor Saudi businesses’ participation in the show, which is centred around selected entrepreneurs making a pitch for equity investment and development opportunities to a panel of regional private investors.
Furthermore, Beban entrepreneurs will also benefit from an intensive training bootcamp they will undergo as part of the Beban journey to develop their businesses in various aspects like expansion planning, financial modelling, and pitching in front of a panel of regional investors on a televised show.
Commenting on the partnership, Razi AlMerbati, chief executive of GFH Capital, shared: “We are thrilled to partner with Beban in a move that underlines our commitment to the growth of entrepreneurialism and business development in line with Saudi’s Vision 2030.
“Through this collaboration, we aim to empower aspiring entrepreneurs to transform their innovative ideas into successful ventures.”
On her part, Fajer Al Pachachi, general manager at Hope Ventures, said: “We created Beban to act as an investment platform that facilitates a borderless and seamless flow of regional co-investment opportunities alongside the private sector in promising businesses. We are truly excited to be partnering with GFH Capital to expand Beban to Saudi Arabia and we look forward to welcoming their applications and participation in season 3 of Beban.”
Entrepreneurs will be selected through an evaluation process comprising five stages, starting with screening businesses for viability based on certain criteria, followed by an evaluation stage led by experts and specialists in the business sector.
Shortlisted candidates will then be nominated to participate in an intensive training bootcamp.
The finalists who make it to the last stage will then go on to film the show’s episodes.
avinash@gdnmedia.bh
&uuid=(email))