Tamkeen announced the development of various support initiatives as part of its strategic plan for the year 2018-2020. The objective is to enhance the impact of its support programs in creating better opportunities, ensuring sustainability and economic development, and encouraging innovation and entrepreneurship. Over the years, Tamkeen has achieved milestones in support of the local private sector and in the development of programs aligned with national goals for economic development. A most notable achievement is the holding of the event, The Best Governmental Agency of the Middle East Supporting Entrepreneurship, on the sidelines of the World Business Angels Investment Forum (WBAF) at Istanbul, Turkey. In an interview by BEntrepreneur with Dr. Ebrahim Mohamed Janahi, Chief Executive of Tamkeen Labour Fund, he confirmed the impact of the initiatives launched by Tamkeen in 2019, which has served many customers with effective support programs, provided strategic solutions based on sustainable development opportunities, and addressed the needs of entrepreneurs and organizations of all types and sizes.

The following is the transcript of the interview with the Chief Executive of
Tamkeen:

How was Tamkeen selected as The Best Governmental Agency of the Middle East Supporting Entrepreneurship?

Tamkeen was chosen among a group of participating institutions representing different countries of the world, including countries from the Middle East region. The Award recognizes the pioneering role that Tamkeen plays in nurturing and supporting the entrepreneurial sector through our various programs which has had a significant impact on Bahrain’s economy. It is one of the most prominent international events hosted by the World Business Angels Investment Forum; attended by more than 1,500 participants from all around the world. The programme includes discussions on the most recent and important topics on global economy and investments, opportunities in emerging sectors, and developing global economies in a sustainable manner. The award criteria include institutions that adopt international best practices in their respective fields, while promoting greater understanding, encouraging participation and discussions and providing developmental solutions towards the future of business.

Another one of our most distinguished achievements is the Golden Award for Tamkeen’s Customer Service Center in the second edition of Taqyeem’s program which is led by the Government Service Center Evaluation Committee.

What plans were implemented to achieve the objectives of Tamkeen’s Strategy 2018-2020?

In order to elevate the quality of the support opportunities provided by our various channels and programs, Tamkeen continues to help institutions and entrepreneurs adapt to new economic
changes by providing them speedy delivery of services and added value. One of the best initiatives is that which offers financial support to institutions to the amount of five thousand dinars. It provides unparalleled opportunities since it helps save time by facilitating applications for financial support exceeding five thousand dinars. In addition, the time frame required in processing applications improved by 60%. With regards to applications for support under the business development program, our team spent less time on field visits.

This was achieved by improvising procedures on field visits, which reduced the time spent by 60%. Because of this, over 2,600 virtual field visits were successfully carried out during 2019.
Moreover, an online facility for account verification was designed to minimize the need to personally visit Tamkeen’s branch. This ensures a faster and smoother process for our customers. We have also activated an online billing and payment system “Fawateer” which offers increased speed and efficiency, developed in partnership with Bahrain’s Electronic Network for Financial Transactions (BENEFIT), through which 30% of all payments are made.

What new initiatives were launched by Tamkeen in support of Bahraini entrepreneurs?

One of the most important initiatives Tamkeen has the taken the lead on is providing support to businesses with Virtual CRs. To date, the number of businesses with Virtual CRs supported
has reached a total of 53, amounting to BD 133,000.

How successful is Tamkeen’s efforts in supporting entrepreneurs and encouraging young people to consider entrepreneurship as a viable career option after graduation?

One of the priorities of Tamkeen, which it aims to implement this year, is to maximize efforts in promoting the entrepreneurial culture among Bahrainis; by encouraging them to choose
entrepreneurship as an alternative to employment, and in the process, enable them to explore feasible solutions and support mechanisms in business financing, consulting and training.
In April of last year, the Kingdom of Bahrain hosted the Global Entrepreneurship Congress, which was attended by nearly 3,000 participants from over 170 countries around the world, including business leaders, economists, decision makers and industry experts; whereby related topics on global entrepreneurship and economy building were discussed.

The Kingdom of Bahrain also hosted the 2nd Gulf Edition of Pitch@Palace, wherein two Bahrainis and one Emirati qualified to compete in the international round of the competition held in December in London, United Kingdom. Bahraini female entrepreneur, Dr. Nahla Al-Sunni won the People’s Choice Award for her startup DocWhere. In December, the Kingdom of Bahrain held the fourth edition of The Bahrain Award for Entrepreneurship, under the patronage of His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince, Deputy Supreme Commander and First Deputy Prime Minister. The Awards honoured eight Bahraini business leaders in various categories. This year an eighth category was added, the “Global Enterprise of the Year with a Bahraini identity:, in recognition of the important role of world-class Bahraini institutions which reflect and preserve the Bahraini identity and culture in their industries and businesses.

What are your aspirations and outlook for the year 2020?

One of the most important goals that we look forward to realizing this year is identifying opportunities to achieve productivity and sustainability goals. In the next stage, we will focus on providing support to the most promising economic sectors, such as renewable energy, to open doors and encourage investments in sustainable energy. Moreover, we will continue to support entrepreneurial trainings through international standard programs and partnerships. In addition, we will further strengthen our efforts to support business innovation and institutions targeting growth and expansion beyond Bahrain.

For more information:
Tamkeen
www.tamkeen.bh