Hope Fund’s investment arm Hope Venture has launched plans for a new initiative to help Bahrain entrepreneurs doing business using social media platforms such as Instagram.
According to the statement, Hope intends to improve the caliber of early-stage businesses in the Kingdom by targeting social media stage businesses to evaluate their businesses, refining their concepts, expanding their businesses, and enhancing their businesses on all facets, including business model, marketing, operations, expansion and more.
Earlier, Hope had put out a tender for a show modeled after the popular American business reality show “Shark Tank.” The show, which will air on national television and other media channels, will give 12 entrepreneurs the chance to pitch their business ideas to a team of investors and judges, who will determine whether or not to invest in their company.
The new venture, a three-week Instagram-based founders’ boot camp, is aimed at early-stage creators on social media platforms, according to the current tender document.
Hope stated that “These early-stage founders face many barriers and challenges that prevent them from building a successful business model and which limits the growth of their business. More importantly, many of these founders lack general knowledge on the know-how of managing and growing their concepts and taking their concepts to the next stage beyond initial validation.”
Hope further added that the new project intends to give these entrepreneurs the knowledge and skills they need to evaluate their enterprises, enhance their concepts, create a road plan for expansion, and commercialize their ventures.
Furthermore, the event is aimed at social media businesses from a variety of industries that have taken the first steps toward developing their company or concept and have a minimum viable product. Upon completion, the boot camp will also offer entrepreneurs the opportunity to pitch their idea to Hope or other potential investors for investment.