Bahrain, Portugal announce initiative to support start-ups

May 6, 2020 | By RetailME Bureau

The Bahrain Economic Development Board (EDB) – the Kingdom’s investment promotion agency – has entered into a proactive initiative with GrowIN Portugal, a platform that helps entrepreneurs incorporate, fund, expand and move their start-ups to Portugal. The agreement will serve to promote cooperation between the two organisations, particularly with regard to supporting start-ups globally during the ongoing COVID-19 pandemic by connecting the two start-up ecosystems.

EDB and GrowIN Portugal will collaborate on the promotion of key events and opportunities in their respective markets; promote opportunities for developing the start-up markets in their respective countries; support start-ups by arranging introductory meetings with key ecosystem stakeholders in both countries; and exchange information on the evolution of their respective start-up markets.

Also read: Sheraa pledges $1-mn solidarity fund for start-ups

“This timely initiative will provide some much-needed support for not just Bahraini and Portuguese start-ups, but start-ups from around the world. The ongoing crisis has hit almost all economic sectors, including the start-up industry, and across the globe, we’re seeing an unprecedented slowdown. By connecting and thereby bolstering our two ecosystems, Startup Bahrain and GrowIN Portugal are providing a lifeline for innovative start-ups seeking a supportive environment in which they are able to empower the digital economy in their respective countries,” said Pakiza Abdulrahman, head of startups, Bahrain EDB.

“Start-ups need support now more than ever before, so we are delighted to be collaborating with Bahrain EDB to do just that. Bahrain and Portugal each offer supportive ecosystems complete with funding support, highly-skilled labour forces, cutting-edge digital infrastructure and world-class accelerators. Moreover, we each sit on the doorstep of major markets Europe and MENA, respectively. By combining forces, combining ecosystems, we can provide a global space to accelerate start-ups from around the world, and ensure innovation is not hampered by the global crisis,” added Anas El Arras, CEO, GrowIN Portugal.

The signing of the agreement follows on from a Bahrain EDB delegation to Lisbon in October 2019, where it announced a fast-track setup process for start-ups globally looking to take advantage of the business environment and a well-connected start-up community through the Startup Bahrain initiative. With its flexible regulatory environment, availability of multiple accelerators, access to funding opportunities, openness to 100% foreign ownership, world-class physical and digital infrastructure and some of the lowest set-up and operating costs in the region.

Hyper-connected Bahrain is increasingly becoming the destination of choice for companies from all over the world seeking to access the growing $1.5 trillion Gulf markets. The island Kingdom is keen to attract more Portuguese companies and start-ups.


For all the latest retail news from Middle East, follow us on Twitter and LinkedIn, like us on Facebook and subscribe to our YouTube page.



Previous Article Next Article


Union Coop, a consumer cooperative in the UAE, revealed that 78% of 

Continue Reading

August 24, 2021 | By Jibran Chouguley

Union Coop has opened its 23rd branch within the UAE in Jumeirah 

Continue Reading

August 2, 2021 | By Jibran Chouguley

Nando’s has revealed their revamped Sheikh Zayed Road outlet where newcomers and 

Continue Reading

July 8, 2021 | By Jibran Chouguley

UAE-based Al Maya Group announced that it will be boosting import of 

Continue Reading

June 24, 2021 | By RetailME Bureau

UAE-based grocery retail chain, Grandiose has opened its first hypermarket in Abu 

Continue Reading

June 2, 2021 | By RetailME Bureau

UAE-based Carrefour announced its theme and plans for Ramadan 2021. The brand 

Continue Reading

March 31, 2021 | By RetailME Bureau

Locally owned supermarket Spinneys celebrates 60 years of doing business in the 

Continue Reading

March 9, 2021 | By RetailME Bureau
Almarai, Carrefour, Emirates have the most loyal customers

UAE-based Carrefour will become the first retailer in the region to offer new levels 

Continue Reading

February 22, 2021 | By RetailME Bureau

The Organic Farmers’ Market is back in Bay Avenue for its 12th 

Continue Reading

February 17, 2021 | By RetailME Bureau

UAE-based  Lulu Group recently inaugurated its first-ever all-female staff store in Jeddah, 

Continue Reading

February 15, 2021 | By RetailME Bureau
Jones the grocer

Jones the Grocer, the gourmet grocer and cheese retailer launches the Jones 

Continue Reading

February 1, 2021 | By RetailME Bureau

UAE-based Al Maya Supermarkets is hosting a two-week food festival at select 

Continue Reading

January 17, 2021 | By Lawrence Pinto

Download Images RetailME Magazine