Mohammed bin Rashid Innovation Fund (MBRIF), an initiative launched by the UAE Ministry of Finance to support innovation in the UAE, and Hope Ventures, the investment arm of Hope Fund in the Kingdom of Bahrain, enter a strategic partnership to empower UAE-based entrepreneurs and businesses through Hope’s produced entrepreneurship-themed reality television show and the region’s 1st private-public investment platform ‘Beban.’
Beban is centered around entrepreneurs and business owners from across the MENA region as they pitch their businesses before a panel of regional, reputable investors for equity investment and business opportunities that can accelerate the growth of these businesses to new markets.
The strategic partnership between Hope Ventures and MBRIF demonstrates a strong alignment with MBRIF’s mission to foster the growth and success of homegrown innovations. Through this partnership, Beban will play a pivotal role in facilitating the ease of access for UAE-based businesses to a diverse pool of investors and strategic partners, which in return will accelerate the growth of these businesses into both regional and international markets, bolstering their growth trajectory.
Commenting on the partnership, H.E. Aymen bin Tawfiq Almoayed, Secretary General of the Supreme Council for Youth and Sports in the Kingdom of Bahrain and Chairman of Hope Fund, shared: “As we join forces with MBRIF, our shared vision takes center stage, aiming to cultivate entrepreneurship and drive economic growth in the region. The collaboration presents a unique opportunity through Beban TV show, where entrepreneurs can showcase their ventures and forge connections with potential investors. This partnership allows us to build synergies with MBRIF, a regional leader in the innovation ecosystem and expand our reach to entrepreneurs in the region. Together, we’re building a future where innovation thrives, and entrepreneurs find the support they need to succeed on a broader stage, contributing to the prosperity of our communities and beyond.”
H.E. Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs in the UAE, expressed his enthusiasm for the collaboration stating: “This collaboration mirrors our unwavering commitment to championing innovation and propelling our nation towards economic excellence. In joining forces with Hope Ventures, we are amplifying the support system for UAE-based entrepreneurs by partnering with one of the most exciting innovation platforms in the region, Beban TV Show. This initiative goes beyond conventional boundaries, providing a dynamic stage for UAE innovators to showcase their ventures, fostering cross-border collaboration, and creating an environment where the spirit of entrepreneurship thrives.”
This collaboration not only supports entrepreneurs’ development but also promotes cross-border knowledge exchange, creating a dynamic platform for sharing experiences and best practices.
As of today, and through MBRIF’s partnership, UAE-based entrepreneurs are able to apply to season 4 for Beban TV show through the website beban.me. Entrepreneurs will undergo a rigorous selection process consisting of five stages. The process begins with screening businesses to assess their viability based on specific criteria. This is followed by an evaluation stage conducted by industry experts and specialists. Subsequently, candidates will be nominated to partake in an intensive training bootcamp which will equip entrepreneurs with key skills and knowledge in areas such as expansion planning, financial modeling, and developing their pitching skills. The final stage will announce the qualified finalists, who will proceed to film the episodes of the production.
Selected entrepreneurs will have the unique opportunity to pitch their businesses in front of a panel of reputable regional investors on a televised show that airs on various regional channels and VODs. This exposure will boost their visibility and provide invaluable networking opportunities, further propelling their growth and success.
To stay up to date with Beban, make sure you follow the show’s accounts on social media @bebanme.
About Hope Ventures:
Hope Ventures is the investment arm of Hope Fund, a Fund established by the decree from His Majesty King Hamad bin Isa Al Khalifa and is governed and supervised by His Highness Shaikh Nasser bin Hamad Al Khalifa, Representative for Humanitarian Work and Youth Affairs, with the vision to support youth projects and initiatives.
Hope Ventures invests in promising companies committed to building value. The company provides capital, expertise, and support to high-impact entrepreneurs with a vision to think big. Through their hands-on investment approach, they provide knowledge, guidance, and connections to support entrepreneurs’ fundraising and growth journeys.
Visit: www.hopefund.bh
About Mohammed bin Rashid Innovation Fund:
The Mohammed bin Rashid Innovation Fund (MBRIF) is a federal initiative launched by the Ministry of Finance and is operated by Emirates Development Bank. Since its launch in 2016, the MBRIF has supported innovators through its first program, the Guarantee Scheme, which offers members access to affordable funding through a government-backed guarantee and without taking equity.
The MBRIF’s second program, the MBRIF Accelerator, was launched in December 2018. Aligned with the UAE National Innovation Strategy, the initiative aims to enhance growth potential of innovative businesses shaping the future of UAE’s economy. The MBRIF Accelerator offers world-class services and coaching to member companies to accelerate their business, elevate capabilities, unlock value and achieve scale.
Additionally, the MBRIF partners with the public and private sector to help facilitate growth, provide support, create opportunities and pave the way to success for its member companies in the UAE. For more information, please visit: https://www.mbrif.ae/
