Mumtalakat announces "Procural" and "Parcel" as winners of the second edition of the “Startup of the Year” competition

His Excellency Shaikh Salman bin Khalifa Al Khalifa, Minister of Finance and National Economy and Chairman of Bahrain Mumtalakat Holding Company (Mumtalakat), stressed that the private sector is a key engine in driving economic development and creating quality opportunities for local talent. He emphasized the vital role entrepreneurs play in enhancing Bahrain’s competitiveness globally by applying creativity and innovation. He also noted Bahrain’s ongoing commitment to fostering an enabling and conducive environment for entrepreneurship and continuing to launch programs and initiatives that support startup development, growth and competitiveness across various economic sectors. This comes in line with the comprehensive national development goals under the leadership of His Majesty King Hamad bin Isa Al Khalifa, and the directives of His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister.

On this occasion, His Excellency highlighted the significant role played by the Labour Fund “Tamkeen” in supporting employment, training, and career development of local talent, as well as enhancing the entrepreneurship ecosystem through continued adoption of high-impact initiatives and programs, in line with the directives of His Highness Shaikh Isa bin Salman bin Hamad Al Khalifa, Minister of the Prime Minister’s Court and Chairman of the Board of Directors of the Labour Fund (Tamkeen). 

This came during His Excellency the Minister’s attendance of the “Startup of the Year” competition in its second edition, held in the presence of His Excellency Abdulla bin Adel Fakhro, Minister of Industry and Commerce; His Excellency Khalid Ibrahim Humaidan, Governor of the Central Bank of Bahrain(CBB), His Excellency Shaikh Abdulla bin Khalifa Al Khalifa, Chief Executive Officer of Mumtalakat, and other officials.

During the event, “Procural” and “Parcel” were crowned as winners, reflecting Bahrain’s commitment to supporting promising local ventures and empowering entrepreneurs to actively contribute to positive economic growth. 

His Excellency noted that the “Startup of the Year” competition is an initiative that promotes innovation and encourages startups to expand and compete regionally and globally by providing investment and support enabling them to create quality job opportunities for local talent and strengthening Bahrain’s position as a business and investment hub. 

On this occasion, His Excellency Shaikh Abdulla bin Khalifa Al Khalifa, Chief Executive Officer of Mumtalakat, stated: "At Mumtalakat, we are committed to investing in high-potential local ventures that drive national economic growth and position Bahrain as a regional and global hub for innovation and forward-thinking business models. Through these strategic investments, we aim not only to foster a thriving entrepreneurial ecosystem but also to support the creation of high-quality employment opportunities for Bahraini talent."

In addition, Her Excellency Ms. Maha Abdulhameed Mofeez, Chief Executive of the Labour Fund “Tamkeen” reiterated Tamkeen’s commitment to supporting startups, as a key contributor to national economy. She emphasized the continued provision of opportunities and tailored support for Bahraini startups to enhance their operations, improve their chances for sustainable growth, and positively impact the economy by generating more employment opportunities for local talent.

The Startup of the Year partnership between Mumtalakat and the Labour Fund “Tamkeen" aligns with Tamkeen’s 2025 strategic priorities, which focus on enhancing the position and competitiveness of Bahrainis in the private sector, equipping Bahrainis with suitable skills for career development in the private sector, and prioritizing enterprise growth, digitisation, and sustainability, and supporting the development of the ecosystem surrounding the labour market and private sector.

The first winner, “Procural” is a cloud-based digital platform for commercial procurement, leveraging innovation in purchasing by connecting buyers with a wide network of suppliers. The second winner, “Parcel” is a platform that provides delivery solutions and services for homes and small businesses across the Kingdom.

The competition, now in its second year, is organized under the patronage of Bahrain Mumtalakat Holding Company, the Kingdom’s sovereign wealth fund, and the Labour Fund “Tamkeen”. The winning startups will receive investments from Mumtalakat via direct capital injections, subject to a predetermined set of pre-approved terms and conditions, in light of this evaluation. 

The Startup of the Year competition is part of a broader selection process that began with the StartUp Bahrain Pitch competition held during the previous year, where 12 winners were selected from six rounds of pitching. These rounds included investor-focused pitch sessions, mentorship programs, and training to enhance the startups’ presentation skills and investment readiness.