Global Startup Ecosystem report launched

Manama, May 12 (BNA): Tamkeen engaged Startup Genome to benchmark Bahrain against more than 50 ecosystems globally in the 2019 Global Startup Ecosystem Report (GSER). The GSER is the world’s comprehensive and widely-read research on startups based on data from thousands of startup founders and research on millions of companies. Bahrain’s GSER2019 highlighted Bahrain as a top 10 ecosystems with largest share of female founders. It also stressed that Bahrain is from the top 15 Global Ecosystem for availability of qualified talent and that the Kingdom created $ 594m in Ecosystem Value. Wage support and a liberal tax regime are cited as reasons a startup should move to Bahrain, adding that the Kingdom has a regional sub-sector strength in Fintech. GSER 2019 provides insights and guidance to public and private leaders in dozens of countries and cities, from Bahrain to New Zealand, about how to cultivate vibrant startup ecosystems. The report outlines key success factors for startups, constituting the new science for entrepreneurial ecosystem development. Bahrain was also highlighted among the top performing ecosystems among countries from Europe and the Middle East to look out for in terms of FinTech. Tamkeen’s CEO Dr. Ebrahim Mohammed Janahi praised Bahrain’s global achievements in demonstrating a supportive startup ecosystem. “Bahrain offers extensive opportunities for startups and showcases many success stories as a unique model of starup ecosystem that focuses on supporting both human and business development as well as promoting investment opportunities within the country”, he said. “The GSER report is the world’s most comprehensive and practical research on startup success and ecosystem performance. It is a well based opportunity to stress Bahrain’s global performance in the startup ecosystem and the role the Kingdom has played in promoting and facilitating a fast-growing ecosystem in line with Kingdom’s leadership promising vision for a sustainable economic development. “As our economies transition to the fourth industrial revolution, we — communities driving the global startup revolution — have a major role to play,” said JF Gauthier, Founder and CEO of Startup Genome. “Not only can startup ecosystems act as the top engine of job creation and economic growth, but our startups can also help solve many of our society’s biggest challenges including climate change and inequality,” he said.