RVC’s General Director Alexander Povalko and the representatives of investment company of the Kingdom of Bahrain, Alkeri Partners, Chairman Jamal A. Al-Hazeem and Founder and Managing Partner Khaled Zainalabedin signed an agreement on creating a series of corporate accelerators GenerationS for the Russian and international startups in the Kingdom of Bahrain and the Middle East. The first directions for selection will be telecommunications, fintech, logistics and mining.
The objectives of the agreement are the development of scientific and technical potential, the ecosystem of startups and the exchange of projects between the countries. In 2019-2020, it is planned to launch two acceleration programs for Russian and Middle Eastern entrepreneurs. It first corporate partner will be one of the largest telecommunications corporation in the Middle East, Zain Mobile Telecommunications through Zain Bahrain. Following the program, the startups will be offered investments, as well as cooperation with the corporate client and development institutions of both countries.
RVC is a state fund of funds and a development institute of the Russian Federation, one of Russia's key tools in building its own national innovation system. RVC is founded by Russian Government in 2006.
GenerationS is the Federal corporate platform to develop acceleration tools. It has been held by RVC since 2013. To date, the accelerator infrastructure includes more than 14,000 startups from 30 countries, 400 corporate and ecosystem partners. GenerationS has become the first Russian accelerator included in the Global Accelerator Network (GAN), created by Techstars.
About Alkeri Partners
Alkeri Partners is Bahrain based startup Foundry and venture capital platform. Alkeri is led by seasoned investment professionals & entrepreneurs who know how to build & scale sustainable startups. Alkeri works with entrepreneurs, entrepreneurial investors and innovative organizations who have a clear vision and are looking for a partner to turn original ideas into successful companies. The company as a startup Foundry differentiates itself with a unique business model based on three core verticals (1) Ideate; through investing as co-founders (2) Accelerate; through running accelerator programs and (3) Elevate; through investing in startups and scaling them in the Middle East region and beyond.
About Zain Group
Zain Group is the largest telecommunications corporation in the Middle East based in Kuwait. In Bahrain, Zain began its operations in 2003 under the brand MTC-Vodafone. Since then, the company has introduced 4.5G LTE services in the country. Zain network covers 100% of the population of Bahrain.