Bahrain's entrepreneurship show Beban pumps in $160K in two startups
Bahrani entrepreneurship show Beban has facilitated $160,000 investment in the first episode of its second season.
Bahrain's TV reality show Beban has facilitated a co-investment of a total $160,000 in two Bahrain-based startups. The Arabic entrepreneurial show is focused on bringing the spotlight on local Bahraini businesses, and also investing in the businesses to help them grow regionally and internationally.
The first startup was Steel Masters, a Bahrain-based manufacturer that makes customised barbecue grills, smokers, food trucks, and equipment. The company raised $120,000.
The other company was Frozen Nutrition which raised $40,000. It makes detox cubes and frozen fruits that are sugar and preservative-free.
The investors' panel consisted of Roaya Saleh, Founder of Villa Mamas restaurants; Mohamed Al Aali, Managing Director of the United Enterprises Group of Companies; HE Aymen bin Tawfiq Almoayed, Chairman of Hope Fund; and angel investor Suhail Algosaibi.
Speaking on behalf of the investors, Fajer Al Pachachi, General Manager at Hope Ventures, said the investment in the companies is an investment in the founders as they demonstrated determination and knowledge of their industries. She added the companies had the vision to expand and grow on a regional level.
"Steel Masters has a competitive edge over the ready-made equipment market through its personalization and adherence to its clients' precise needs and affordability, while Frozen Nutrition fills a gap in the local food and beverages market– and we are thrilled about our co-investment in both businesses with our co-investors who will strategically empower these businesses to scale," she added.
The Hope Fund was established by the decree from King Hamad bin Isa Al Khalifa and supervised by Shaikh Nasser bin Hamad Al Khalifa, the king's Representative for Humanitarian Works and Youth Affairs.