Flat6Labs Bahrain announced that eight startups have received $250,000 investment as part of its sixth cycle, which concluded after a four-month acceleration programme.
The startups work in a number of industries, including proptech, fintech, entertainment, e-commerce and enterprise software. Each of them received an investment of $32,000.
The sixth cycle received over 200 applications from more than 50 countries. They were then narrowed down to a final selection of eight startups, which will be showcasing their businesses in the accelerator’s Sixth Demo Day on 23 February.
Ali Fakhro, managing director of Flat6Labs Bahrain, said: “This has been one of our most interesting cycles as it includes innovative startups that have already achieved traction or are ready to be deployed in the market, including fintech startups with fascinating concepts.
“With the support of our partner Tamkeen, we have invested $1,400,000 in 44 startup companies integrated in Bahrain. We look forward to continuing our integral work in supporting the growth of the Kingdom’s startup ecosystem.”
Launched in 2018, Flat6Labs Bahrain has aided in the creation of over 200 jobs and invested thousands of hours in mentoring and coaching startups, expanding the reach of its portfolio in the GCC market and supporting them with raising over $2.2 million in follow-on funding.