With leading countries globally helping citizens around the world during this stressful time, Bahrain and Portugal have also joined hands in easing the complications brought forth by the global pandemic. In collaboration with the Bahrain Economic Development Board, GrownIn Portugal, a leading startup agency, has decided to help keep the entrepreneurship spirit alive by building a platform to accelerate their ideas. The initiative hopes to help identify smart business ideas and help foster them until they expand and are ready to be moved to Portugal to be introduced to the marketplace.
In an effort to help reduce the economic impact caused by the COVID-19 pandemic, both countries have proactively settled on an agreement to help aid entrepreneurs amongst the two organizations by connecting both ecosystems to each other. With this new venture, both countries hope their initiative will help the entrepreneurs of both ecosystems in promoting opportunities to develop a steady place for startups in the global marketplace.
GrownIn will also ensure that the right support is given to help network with stakeholders through introductory meetings arranged by the agency. The merging of both ecosystems will also help in better comparing and understanding the emergence of startups in the current market, and how it is holding up. There could also be collaborations to promote opportunities as well as key events.
“By connecting and thereby bolstering our two ecosystems, Startup Bahrain and GrowIN Portugal are providing a lifeline for innovative startups seeking a supportive environment in which they are able to empower the digital economy in their respective countries”, stated Pakiza Abdulrahman, the Head of Startups in the Bahrain sector, when asked to comment on the decision of the merge and agreement.
Agreeing with his Bahraini counterpart, Anas El Arras, the Chief Executive Officer of GrownIn, Portugal also strained on the importance of supporting startups during these unprecedented times for both entrepreneurs and the global market alike. He goes on to say, “By combining forces, combining ecosystems, we can provide a global space to accelerate startups from around the world, and ensure innovation is not hampered by the global crisis”
Both countries are no strangers to trade amongst each other, although previously, their trade focused mainly on aluminium, cotton products and paper. The non-oil trade amongst the two countries accounts for nearly US $22 million, a whopping increase from the meager US $6.7 million which was traded nearly a decade ago, in 2009.