Press Release.
Hope Ventures, the investment arm of Hope Fund, released the third episode of its show, Beban, where three entrepreneurs from the Sports sector received business growth opportunities worth USD 50,000 including marketing services, business partnerships and pre-orders on their products.
The first pitch on the episode, presented by the founder Ms. Reem Al Doy, was for high-quality women’s sportswear brand, Inclus, which offers a variety of designs and sizes to suit a large market. Al Doy received a pre-order from investor, Faris AlKooheji, for 1,000 outfits to equip his sports ventures and businesses. Inclus also received an offer for a customized truck from Hope Ventures, in partnership with manufacturing company It’s on Wheels, to act as a mobile store for the brand.
Al Doy commented saying, “I pitched on the show for an investment, but got what was better than an investment – a customer! I had only sold 200 outfits before the show and this order will help boost my sales tremendously. The incoming revenue will help me develop my business the same way the investment would have; now I will be able to launch my website and take on larger orders.”
The episode also featured entrepreneurs Mr. Mohammed Saad and Mr. AbdulRasool ShekerAllah, the founders of BaSpoLab; a specialized laboratory that helps develop athletic performance, and Yusuf Zaman, the founder of Ryde; a smart performance centre for virtual cycling and running. The founders pitched their vision for their centres to expand beyond Bahrain and into the region within the upcoming five years.
Ryde received digital screen marketing on billboards in prime locations through Gulf Media International (GMI), while BaSpoLab is to enter a partnership with Fares Al Kooheji’s nutrition platform, take part in F45 competitions, and receive PR and Communications services from TRACCS.
Mr. Zaman, Founder of Ryde, said: “The recent boom in cycling across the Kingdom has driven us to start our business. Ryde aims to meet the needs and expectations of those passionate about the sport by providing them with a safe, indoor space that steers them away from the traffic-ridden roads and hot climate. The investors shared valuable advice that will help us revise our plans of reaching a wider target audience.”
BaSpoLab co-founder, Mr. AbdulRasool ShekerAllah said: “Fitness is more than just about regular exercise, and at BaSpoLab, we are dedicated to providing our customers with a better understanding of their bodies in order to enhance their performance levels and ultimately achieve their health goals. The support provided by the investors on Beban and the upcoming partnerships will help us achieve our goals and allow us to expand regionally in the future.”
The investor panel consisted of three investors from the sports industry; Mr. Fares Al Kooheji, Mr. Yusuf Juma, and Mr. Eshaq Eshaq, in addition to His Excellency, Aymen Almoayed, Minister of Youth and Sport Affairs and Chairman of Hope Fund, who joined as a member and investment representative for Hope Ventures.
The final episode of Beban will feature promising businesses in the manufacturing sector and will air on Wednesday, the 23rd of February 2022.
To watch Beban, tune into BTV every Wednesday at 6PM or watch it anytime on Shahid.
To learn more about Hope Ventures’ Beban Program, please visit their website.