The Bahrain Economic Development Board (EDB) and FinTech Consortium recently announced the launch of Bahrain FinTech Bay, among the largest dedicated financial technology (fintech) hubs in the Middle East and Africa.
“Fintech Bay is not just a space, it is a whole ecosystem that sits on top of the space,” says FinTech Bay chief executive Khalid Saad, referring to the 10,000 square foot space in Manama’s Arcapita building.
The public-private initiative aims to support the development and acceleration of Fintech firms, as well as the interaction between investors, entrepreneurs, government bodies and financial institutions.
The offices house co-working spaces, communal areas and workstations, but also offer extensive support for companies interested in the fintech sector. Services for start-ups include one-stop business setup through the EDB, as well as support for attracting customers and investment. The hub also creates a space for existing companies to learn about fintech and test out new ideas.
To date, more than two dozen corporations, including Cisco, Microsoft and Batelco, have signed