Bahrain’s startup ecosystem continues to progressively mature, positioning the Kingdom as an optimal launchpad for startups with advancing innovations, regulatory support, skilled talent, and growing funding opportunities.

2023 witnessed significant developments in enhancing the business environment. Sijilat 3.0 launched as an advanced version of the commercial registration system to attract investors and streamline business registration. Hope Ventures launched HQ as Bahrain’s largest community-based coworking space. Bahrain also made strides in tech infrastructure, with Beyon's digital investments and Batelco’s Internet Protocol Version 6. In 2023, the Kingdom ranked #4 in MENA for financial, investment, and trade freedom in the Heritage Foundation Index and was recognized globally as #7 in the ICT Development Index.

Startup support and funding is propelling, with key players, including Tamkeen, Tenmou, and Hope Fund playing a crucial role. Among the supportive initiatives are financing platforms including Beban TV and Crowdfunding, incubation programs such as Tech Riyada Business Acceleration Program, and more than 200 business-related events conducted in 2023. New Fintech ventures include Spire Technologies’ licensing, TerraPay and Beyon Money’s remittance facilitation, and Tarabut and FLOOSS streamlining lending.

Bahrain’s commitment to fostering talent, especially in tech, is a key development focus. Tamkeen established numerous strategic partnerships in 2023 with both local and international institutions including General Assembly, Apple Academy, Microsoft Academy, Think Tank, Reboot, and SANS, bridging the skill gaps and catering to the evolving needs of the market. Tamkeen provided over 10,700 training opportunities for Bahrainis in 2023, with more than 1,000 Bahrainis trained through tech partnerships.