Hope Ventures invests BHD 20,000 in two Bahraini idea-stage businesses, Gold Souq and Truck.ly, to support their development and growth.

Information on the Target

Hope Ventures, the investment arm of the Hope Fund, has recently announced its inaugural investment in two Bahraini idea-stage businesses, with a total allocation of BHD 20,000. The selected ventures include Gold Souq, founded by Nawaf Saeed, which aims to revolutionize the gold trading experience, and Truck.ly, founded by Abdulla Alrayyes, a platform designed to streamline logistics for truck services. Each of these promising businesses has been awarded BHD 10,000 in investment to further develop their innovative ideas in exchange for an equity stake.

Industry Overview in Bahrain

Bahrain's entrepreneurial ecosystem is rapidly evolving, supported by various initiatives and funding programs designed to foster innovation and support small businesses. As the government continues to leverage diversification away from oil dependency, the country is witnessing a surge in startups, particularly in sectors like technology and logistics. The Bahrain Economic Development Board plays a pivotal role in attracting foreign investors and promoting local enterprises, thereby paving the path for a robust startup culture.

In recent years, the Bahraini government has invested significantly in enhancing its business environment, enabling easier access to funding and resources for nascent com