Monday 16 July 2018

Bahrain gears up for MIT innovation forum

MANAMA, September 6, 2017

The MIT Enterprise Forum Pan Arab has announced the launch of its first innovation forum in partnership with Bahrain Economic Development Board (EDB) and Investcorp, a leading provider and manager of alternative investment products.

To be held at the Four Seasons Hotel in Bahrain from September 27 to 28, the forum is likely to draw over 400 experts including researchers, entrepreneurs and investors besides innovative startups along with CEOs, CTOs and CIOs from the world's leading tech companies as well as policy makers.

It is the first-of-its-kind in the Arab world, falling within the vision and objectives of the MIT Enterprise Forum (MITEF) for the Pan Arab Region, which aims to develop and promote a culture of entrepreneurship, innovation and technological proliferation in this part of the world, said the organisers.

This goes hand in hand with Bahrain's Economic Vision 2030, a goal towards a prosperous economic climate that is based on sustainability, fairness and competitiveness, they stated.

The forum will also welcome a large number of regional and international speakers, focusing on the latest technologies and the latest scientific research in the field.

Speakers will discuss several issues, including Fintech, an emerging financial services sector that will shape the future of the industry and other topics including autonomous vehicles, Artificial Intelligence (AI), cybersecurity, and cloud computing, while also dissecting the latest findings and trends.

Hala Fadel, the chairperson of the MIT Enterprise Forum Pan Arab, stressed the importance of this forum, which will constitute a unique occurrence especially in terms of the discussed topics as well as the rich crowd of tech experts, innovators and entrepreneurs this event brings together from all over the world.

"The forum aspires to gather the brightest minds in the academic, corporates, and startup communities in an effort to glean insight into the innovations that shape the world economy, which are the product of both global and regional businesses," noted Fadel.

The forum will also discuss and analyze this fast-paced world we live in and its impact on our lives. It will play a significant role in raising awareness about what's happening around the world today and how to go about attaining a culture of innovation and entrepreneurship in the Arab world," she added.  

EDB's chief executive Khalid Al Rumaihi said: "Innovation and digital disruption are important drivers of economic growth globally. In Bahrain, both the government and private sector have worked hard to create an ecosystem that will allow innovation to thrive."

The high standards of hard infrastructure, such as excellent transport connections to regional markets and world-class ICT services, as well as soft infrastructure, such as supportive regulation, mean that Bahrain is an ideal testing ground for entrepreneurs looking to launch products and services before expanding to the wider region, observed Al Rumaihi.

"Forums such as these are essential if we are to encourage innovation in our economies - allowing us to learn and collaborate with each other. We at the EDB are proud to have supported MIT in getting its first Innovation Forum off the ground. I hope that it will set the standard for events to come and that the entrepreneurs passing through our doors this year will be engineering solutions to the world's problems in the future," he added.

Investcorp's co-CEO Mohammed Al Shroogi said the company has always been a strong supporter of innovation and entrepreneurship, in the Arab world.

"Guided by the importance of these two pillars to Bahrain's Economic Vision 2030, we are pleased to be part of this remarkable initiative, which fits perfectly with our long-term commitment to building an innovation-led economy, that accommodates to the growing importance of new trends like fintech and cybersecurity in Bahrain and the wider region," remarked Al Shoorgi.

"We look forward to welcoming some of the world's best innovation and entrepreneurship leaders at this Forum to discuss with them the best ways to optimize talent and innovation in the Arab world," he added.-TradeArabia News Service

Tags: Bahrain | Investcorp |

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