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The BENEFIT Company and Innovate for Bahrain Announce Strategic Partnership to Foster Innovation and Empower Entrepreneurs and Youth




Manama, Bahrain - [May 12, 2024] - Innovate for Bahrain (i4BH), an innovation center led by the Supreme Council for Women (SCW) and operated by Bahrain FinTech Bay (BFB), is pleased to announce a strategic partnership with The BENEFIT Company. The partnership aims to support Innovate for Bahrain, in delivering impactful initiatives focused on fostering innovation within startups, youth, and professionals in the Kingdom. Innovate for Bahrain is set to open in Riyadat Mall and serve as an innovation center for sustainable collaborations and technological advancements.

 

Through this partnership, The BENEFIT Company will support Innovate for Bahrain in establishing an innovation community center, delivering career development programs, ideation development programs, short courses and workshops, and various media initiatives. These initiatives are designed to empower Bahraini entrepreneurs and professionals, providing them with the necessary skills and opportunities to succeed in the competitive market. The partnership is also aimed at supporting and developing local talent, further contributing to Bahrain's economic growth and sustainability.

 

"The collaboration between the BENEFIT company and Innovate for Bahrain is a testament to our shared dedication to fostering innovation and empowering Bahraini entrepreneurs and professionals." - Layla Alqassab, Chief Financial Officer at BENEFIT and Board Member at Bahrain FinTech Bay.

 

“This partnership represents the first step towards establishing a truly gender-inclusive innovation hub for Bahrain. We are thankful to The BENEFIT Company for their continuous support for Innovate for Bahrain. This partnership underscores our commitment to advancing gender equality in innovation and entrepreneurship, developing local talent, and we look forward to the positive impact it will have on the Bahraini startup ecosystem.” said Bader Sater, CEO of Bahrain FinTech Bay.

 

"Innovate for Bahrain provides diverse and unique developmental programs and initiatives in terms of content and engagement methods. We are honored to work with the Benefit Company to develop technological innovations in our kingdom. We look forward to building sustainable partnerships with various government entities and the private sector to provide quality initiatives that serve the economic directions and vision of #TeamBahrain" - Mohammed Al-Subaiee, Director of Innovate for Bahrain Center

 

The partnership between Innovate for Bahrain and The BENEFIT Company signifies their joint commitment to driving innovation, promoting gender equality, and providing unique business and career opportunities. This partnership follows The BENEFIT Company's acquisition of Bahrain FinTech Bay, further solidifying their dedication and strategy to cultivating a highly skilled workforce, fostering innovation, nurturing talent, and building an environment conducive to creativity and entrepreneurship to positively impact Bahrain.

 

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About Innovate for Bahrain:

Innovate for Bahrain, an initiative led by the Supreme Council for Women and operated by Bahrain FinTech Bay, aims to connect individuals, startups, government, and corporate entities to collaborate around innovative solutions and products. The center focuses on empowering women, enabling youth, and supporting professionals' ambitions through sustainable collaborations and localized strategies.

 

About The BENEFIT Company:

The BENEFIT Company is a leading financial services provider in Bahrain, dedicated to supporting the growth and development of businesses and individuals. With a focus on financial literacy and empowerment, The BENEFIT Company aims to create a more financially inclusive society.

 

About Bahrain FinTech Bay:

Bahrain FinTech Bay is an ecosystem builder. It incubates impactful and scalable fintech initiatives through innovation labs, acceleration programs, curated activities, and educational opportunities. This collaborative platform is dedicated to furthering the development, interaction, and acceleration of the fintech ecosystem. To bring the full spectrum of market participants together, BFB partners with governmental bodies, financial institutions, corporates, consultancy firms, universities, associations, venture capital, and fintech startups. Bahrain FinTech Bay is a subsidiary of the BENEFIT Company.

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