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Bahrain to fast-track setup process for global startups

Bahrain EDBThe Bahrain Economic Development Board (EDB) is introducing fast-track setup process for global startups looking to take advantage of the business environment and startup ecosystem in Bahrain. The initiative will also enable startups to access the broader MENA region markets with the hyper-connected Kingdom of Bahrain as their launchpad, it said in a statement.

The fast-track setup process will be a free service offered through a dedicated concierge, and includes fast-tracked entry process which will cover residency, visa requirements and business registration, guidance from Bahrain’s incubators and accelerators, as well as access to their networks and programmes that will provide businesses with the connections they need to grow and expand and access to grants and financial support.

“International startups can benefit hugely from the entrepreneurial support structure in Bahrain – offering access to capital, talent and new markets. With a hassle-free approach to setting up businesses in Bahrain, there is no better base to scale across the growing $1.5 trillion Gulf market,” said Pakiza Abdulrahman, Manager of Business Development – Startups at Bahrain EDB.

EDB is the investment promotion agency for the Kingdom of Bahrain in partnership with Web Summit.

“The initiative will allow businesses and startups to benefit from the full ecosystem in Bahrain, which boasts operating costs up to 40% lower than its neighbours, one of the region’s most highly skilled local workforces and some of the most advanced soft infrastructure in MENA,” EDB said.

Michael Cunningham, Senior Vice President of Partnerships at the Web Summit said,“ We’re glad to see startup initiatives like that of the Bahrain Economic Development Board. It will be great that startups present at this year’s Web Summit will be able to benefit from their efforts.”

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