Future Court stresses investing in national entrepreneurs

Manama, June 30 (BNA): Positive Impact Consulting organised, in partnership with the Khaleejiy Port for Consulting and Training (Khaleejiy), the "Future Court" event themed "The Future of Entrepreneurship in Bahrain". The event was organised in strategic partnership with the Labour Fund (Tamkeen), and in cooperation with a number of government and private institutions, at the Diplomat Hotel, on Saturday. The "Future Court" held its sessions in the presence of a number of Shura and Representatives members and representatives from the public and private sectors. The Court discussed a number of indicators of the future of entrepreneurship in Bahrain, including the role of supportive institutions in providing guidance for local projects to transform them from traditional projects to innovative ones, and applying assessment of the quality of home-based products to contribute to marketing and exporting those products to international markets. It also discussed the awareness of entrepreneurs and supporting entities of the investment in the sectors of the future, such as advanced technology and artificial intelligence, as well as the availability of guidance to start-ups, in terms of knowledge of commercial laws, intellectual property and patent registration mechanisms and management of human and financial resources. The "Court of the Future" stressed the need to focus on creating a common mechanism for cooperation, coordination and communication, as well as on announcing the services of the supporting entities to ensure reaching the target group (entrepreneurs and home based businesses). It also indicated that there are some good services but the target group for these services does not know about their existence. The court called for establishing communication between the supporting entities and government agencies, such as tourism and media, to issue a Bahraini identity for products and their delivery to regional and international markets, highlighting the need to enhance investment opportunities through an incubator environment with flexible systems and laws to protect investors and business owners. The Court pointed out that innovative government marketing policies and systems should be created to evaluate national products and the services that would contribute to enhancing the national and regional reputation of the product. In addition, it underlined benefiting from the local expertise while preparing a national guide that would include guidelines and instructions required for beginners and those wishing to start their home-based businesses, adding that the directory should be updated annually. The brainchild and Executive Director of the Future Court, Ibrahim Al Timimi, noted the significance of creating, disseminating and promoting the culture of future foresight in government and private sectors as it is a key driver of the development process, and that an integrated strategic path for the future of entrepreneurship could be set in Bahrain. Managing Director of Positive Impact Consulting, Amira Mahmoud, pointed out that during the court session, 18 indicators of entrepreneurship in Bahrain were introduced through a simulated court aimed at measuring the extent of the readiness of entrepreneurs and supporters of business in the future. She said the small and medium-sized enterprises (SMEs) account for 98% of active enterprises in the kingdom, which makes exploring the future of this vital sector highly important for enhancing the national economy and achieving the comprehensive sustainable development.