Business incubation is a business support process that accelerates the successful
development of start-up and fledgling companies by providing entrepreneurs with
an array of targeted resources and services.
These are usually developed or
orchestrated by incubator management and offered both in the business incubator
and through its network of contacts. A business incubator’s main goal is to
produce successful firms that will leave the program financially viable and freestanding.
These incubator graduates have the potential to create jobs, revitalize neighborhoods,
commercialize new technologies and strengthen local and national economies.
Critical to the definition of an incubator is the provision of management guidance,
technical assistance and consulting tailored to young growing companies. Incubators
usually also provide clients access to appropriate rental space and flexible leases,
shared basic business services and equipment, technology support services and assistance
in obtaining the financing necessary for company growth.
Our background
Bahrain is small, but vibrant economy, with a population estimated to be more than half a million with one of the most open economics in the world. With a stable macroeconomic environment and exchange rate, no restriction on capital repatriation, no personal or corporate income taxes and a very sophisticated business infrastructure. Bahrain Development Bank’s (BDB) objective as the main SME’s funding institute in Kingdom of Bahrain is the economic development of the country, especially the diversification of the economy and creation of jobs. Establishment of Bahrain Business Incubator Centre (BBIC) is intended to further these objectives. BBIC is initiated, financed and fully owned by BDB. As a pioneering project, which is the first of its kind in Bahrain and the GCC. BBIC main mission is to support the small and medium business activity in the Kingdom of Bahrain. To add further quality to the initiative the services of UNIDO have been taken to designed implement the project. BBIC is an organization that helps through its programs to accelerate the successful development of entrepreneurial companies via an array of business support resources and services, developed or orchestrated by incubator management and offered both in the incubator and through its network of contacts. The Business incubator concept dates back to the ‘sixties’ and is particularly relevant today for countries such as Bahrain where the infra-structure and the economic policies support the development of Small and Medium Enterprises (SMEs). BBIC’s establishment is a continuation of the Kingdom’s policy to improve efficiency and foster the growth of small and medium enterprises through its team of experts and its affiliation with national & international entities, thus ensuring the success of the program by having firms leaving the program financially viable and freestanding. This will strengthen the economy in a way that Kingdom of Bahrain becomes an Industrial force to reckon with in the GCC.