Russian Venture Company (RVC) is set to launch a technologic startup accelerator in Bahrain in 2019-2020, the company’s statement said.
The corresponding agreement on launching the GenerationS corporate accelerator series for Russian and international startups in Bahrain was signed by RVC General Director Alexander Povalko and representatives of the Bahraini investment company Alkeri Partners, Chairman Jamal A. Al-Hazeem and Founder and Managing Director Khaled Zainalabedin. The initial areas to be selected for the accelerator will include telecommunications, financial technology and mineral resources extraction.
The plans for 2019-2020 include launching two acceleration programs that will involve Russian and Middle Eastern businessmen; in the future, the number of programs may increase. Zain Mobile Telecommunications, a leading telecommunications operator across the Middle East, will act as the partner of the first selection of telecommunications projects. Based on the program results, investments will be offered to startups as well as an opportunity to cooperate with corporate customers and both countries’ institutes for development.
The GenerationS corporate accelerator was started by Russian Venture Company in 2013. As of today, the accelerator’s infrastructure includes over 15,000 startups from 30 countries, as well as 400 corporate and ecosystem partners. In 2018, GenerationS became Russia’s first accelerator to receive approval from the independent global association Global Accelerator Network (GAN).