A total of seven entrepreneurial talent would be honoured with HRH the Crown Prince- patronized Bahrain Award for Entrepreneurship, Tamkeen Chairman and Acting Chief Executive, Shaikh Mohammed bin Essa Al Khalifa, said as he launched the initiative today.
The categories are micro-enterprise of the year, start-up of the year, entrepreneur of the year – from both small and medium enterprises and large capital companies and Sustainable business award. In addition, there will also be a People’s Choice Award and a Lifetime Achievement Award.
The award will include a citation and Tamkeen support in the expansion and new business initiatives of the award winners, said the Tamkeen head.
The entrepreneurship award, he said, is instituted by Tamkeen, the Bahrain Economic Development Board, Bahrain Development Bank, knowledge advisors Bahrain Chamber of Commerce and Industry and Ernest and Young, Arab International Centre for Entrepreneurship and Investment Training – United Nations Industrial Development Organisation (UNIDO) Investment and Technology Promotion Office in Bahrain. Bahrain’s home grown entrepreneurs are recognized internationally. It is important to recognize them in their homeland and hold them up as role models in creating more success stories for the Kingdom – the vision of His Royal Highness, Prince Salman bin Hamad Al Khalifa, the Crown Prince, First Deputy Prime Minister and Chairman of the Bahrain Economic Development Board, said Shaikh Mohammed.
Nominations and applications to the categories have opened and the last date is January 25, said the Tamkeen chief. The initiative, launched to coincide with the Bahrain Noor El Ain Festival is also designed to support Bahraini businesses, he added.
The micro enterprise award, Shaikh Mohammed said, is for micro enterprises and productive families, while the startup award is for companies that have existed less than 36 months as of December 31 and have excelled. The small enterprises should also have 50 employees and one million dollar annual turnover. The medium enterprises should have 250 employees and five million dollars turnover. The people’s choice, however, will be selected from among the semi-finalists and will take the public vote into consideration. A long-standing entrepreneurial pioneer, who still has his hands on the reins of the enterprise will receive the lifetime award, he added. All details regarding application, selection, the prize itself and all such details are made available on www.BahrainAe.com.
The entrepreneurship and innovative thinking of the contestants is expected to generate quality jobs and bring more investment into the country, he added. The awards will help build the image of Bahrain and put it at a higher pedestal, said Shaikh Mohammed.
Others who spoke include Shaikh Hesham bin Mohammed Al Khalifa, Deputy General Manager, Development Services, BDB, Nabeel Al Mahmood, BCCI Chief Executive, UNIDO’s Dr Hashem Hussain and Essa Al Jowder, Knowledge Advisor, Office Managing Partner, of Ernest and Young Bahrain.