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Bahraini entrepreneurs join ‘My Startup Bootcamp’ conducted by YoStartups & CH9 in the Startup Bahrain Week to fast track their Startup journey
— Jappreet Sethi
MANAMA, BAHRAIN, March 8, 2018 /EINPresswire.com/ — YoStartups conducted “My Startup Bootcamp” From Sunday, March 4, 2018, to Monday, March 5, 2018, in Bahrain. The intensive Bootcamp delivered a complete overview on what it takes to succeed as an entrepreneur – equipping participants with the methodologies for success, empowering them to progress in their journeys and providing support to Startups who have high growth potential.
The My Startup Bootcamp was conducted in the CH9 hub in Amwaj, Bahrain. CH9 led by its Founder and Chairman Mohamed Altawash supported the program on the ground with all their energies and resources. “My Startup Bootcamp” had Tamkeen as the strategic partner and was supported by The Bahrain Economic Development Board (EDB) and Startup Bahrain as part of the “Startup Bahrain Week” from 03-08 March 2018.
The “My Startup Bootcamp” is one of the signature programs of Yostartups. This time it attracted over 60 applicants from GCC and after shortlisting, 16 entrepreneurs were invited for the two days Bootcamp. The program drew participants from sectors as varied as IOT, Machine Learning, Artificial Intelligence, Automobile parts marketplace to Robotics.
The My Startup Bootcamp was inaugurated on 4th March 2018 by Dr. Simon Galpin, Managing Director at Bahrain Economic Development Board (EDB). Dr. Galpin emphasized the importance of StartUp Bahrain Week during his opening remarks at YoStartups & CH9’s My Startup Bootcamp. With Bahraini Startups increasing by 46% over the past three years and SMEs accounting 30% of Bahrain’s GDP, the inaugural StartUp Bahrain Week offered a timely platform for Startups to access ingredients essential to their success – funding, mentoring, accelerators, talent and supporting the government and educational entities.
According to Shikhar Ghosh of Harvard Business School, 30-40 percent of Startups around the world end up having to liquidate their assets, with investors losing most or all the money they put in, and 70-80 percent fail to meet their projected return on investment. YoStartups and CH9 aim to help entrepreneurs reduce this failure rate, by providing Pre Acceleration services so that are ready and equipped to start their venture.
Tamkeen, a Bahrain government organization tasked with supporting Bahrain’s business community and positioning the private sector as the key driver of economic growth and development was the Strategic Partner of the program. Tamkeen has two primary objectives – firstly, to foster the development and growth of local enterprises, and secondly, to provide support to enhance the productivity and training of the national workforce. With over 220 different initiatives, Tamkeen has served more than 165,000 Bahraini individuals and businesses to-date.
Representatives from Tamkeen joined the My Startup Bootcamp program where they shared Tamkeen’s support program and initiatives for entrepreneurs and Startups. The session from Tamkeen was highly appreciated by the participants, as they got an insight into various programs that they can tap into to set up their ventures.
As per Jappreet Sethi, CEO of YoStartups.com, “The biggest risk that Startups face is the initial failure. The concept looks nice at the ideation stage or on paper but remember, that’s just the first stage, so it’s better to put the concept into the domain of potential customers so that you will know its pros and cons in time to take corrective action.”
After hours of mind-boggling relentless interactions and exchange of ideas with all the participants, Sajah Khonji, Saleh Alnashwan, Hamad Fouad Ahmed, Hadil Mansour, Alreem Alnoaimi and Hasan Al Sharif were the winners from the two days My Startup Bootcamp.
Saleh Alnashwan was one of the participants in the program. He is a senior C-level executive with 20 years of experience in various leadership roles in Banking and Private Equity space is building a food sharing application, commenting on the program, he said “One word I would say is ‘Amazing’. The best thing I learned here is how to make the thinking process more structured and how to challenge some of the ideas that you have in mind, your business model and how to approach for investments. My background is very much on private equity investments but despite that, I learned so much more over the last two days.”
The MyStartup Bootcamp activities included helping participants refine their concept, solidify their Startup ideas and business models, create entrepreneurial mind-sets, enhance their viability through business workshops and readiness level in term of business maturity, presentation, communication skill, and mindset. The two-day program was delivered and facilitated by Jappreet Sethi, CEO of YoStartups and Abhishek Singh, COO of Yostartups.
Sajah Khonji was one of the participants in the program. She is a student from Bahrain Polytechnic is building a Smart Mirror that uses Artificial Intelligence algorithms and IOT integration to display daily reminders on the mirror. Giving her feedback on the program, she said “I am an IT student and I developed this Smart Mirror with my technical knowledge, but I don’t have any business background. Coming to this 2 days Bootcamp has taught me a lot. I have learned more about how to better understand my customer segments, and how to commercialize my idea into a money making product.”
Hasan Al-Sharif was one of the participants in the program. He is a graduate of the University of Texas at San Antonio with work stints at Apple and the World Bank is building a marketplace for automobile spares and maintenance attended the program. Commenting on the program, he said, “Last two days were awesome. My idea went from a small brainstorming idea to something more structured with understanding all my business hypothesis. Now I know what I am getting into and I know my potential market. In short, I have developed a complete perspective on my business idea.”
If an entrepreneur learns how to make a minimum viable product for launching in the market, his/her rate of success is much higher than any other product which is launched straightway in the market without taking the clients feedback. By the time the feedback comes, it’s too late to make any adjustment, My Startup Bootcamp endeavors to reduce the failure rate of Startups by plugging this important gap.
About Yostartups
YoStartups is a Pre Accelerator and it empowers entrepreneurs to propel their business ideas into successful ventures through its signature pre acceleration program – Excelrate. Yostartups’ core mission is to take the message of entrepreneurship to 1 billion people globally by 2020, as on date Yostartups reaches out to millions of people globally through its direct and indirect channels every year.
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For more information on this event please contact
Jappreet Sethi
CEO – YoStartups
Email: Info(at)yostartups(dot)com
https://www.yostartups.com
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Jappreet Sethi
YoStartups
+91 99100 12370
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This Article Was Originally Posted at www.einnews.com