Three startups from Oman and Bahrain have raised a total of $880,000 during the third episode of the third season of entrepreneurship-themed reality television show Beban.
Omani business Innotech, founded by Othman Al Mandhari, raised $500,000 and Serag AlOfuq, also from Oman and represented by Adi Al Farei, bagged a cash influx of $330,000.
Bahrain’s Travilege Solutions, founded by Salman Almarzooq, raised $50,000 from the diverse panel of investors on the show.
The episode witnessed four eager entrepreneurs from across the GCC pitch to a panel of investors for the opportunity to seize investment and business opportunities.
Produced by Hope Ventures, the investment arm of Hope Fund, Beban is the region’s 1st private-public investment platform.
Hope Fund chairman Aymen Almoayed commented: “Beban was launched with the goal of providing entrepreneurs with access to funding, resources, and tools to accelerate their businesses on an international stage. The show continues its efforts to cultivate a business environment that nurtures entrepreneurs who dream bigger, work harder, and scale faster.”
He added, “To date, we have witnessed over 100 entrepreneurs from the GCC participate in the show, facilitating over $6 million worth of investments secured in its first two seasons. This is only the beginning, and Hope aims to continue to amplify its efforts in Beban to facilitate opportunities for merited entrepreneurs and empower them to create regional success stories.”
Oman’s Small and Medium Enterprise Development Authority has partnered with Beban as the Omani country partner.
The SME Development Authority’s chairperson Halima bint Rashid AlZaria, commented: “The presence of Omani startups in Beban is an opportunity to highlight inspiring success stories, opening up broad horizons for entrepreneurs to showcase their projects to local and regional investors. The authority seeks to support SMEs and startups by providing an opportunity to participate in such initiatives, which contribute to promoting these institutions within and outside Oman.”
Beban season 3 was filmed in the Middle East’s newest exhibition and convention centre, Exhibition World Bahrain, and showcases 41 businesses from across the Mena region as they pitch in front of a panel of regional, reputable investors for equity investment and strategic business development opportunities that can accelerate the growth of these businesses into new markets.
A new episode of Beban will air every Wednesday of this month. You can watch the next episode airing on January 24, 2024, on Bahrain TV at 6pm or anytime on the video on-demand streaming platform Shahid.
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