Having aired for two seasons, Beban featured a total of 62 businesses of various sizes and resulted in successful co-investments by the private and public sectors exceeding USD 6 million in GCC-based startups…reports Asian Lite News
Entrepreneurship-themed reality television show ‘Beban’ announces the expansion of its third season to the Kingdom of Saudi Arabia, as Hope Ventures, the investment arm of Hope Fund and producer of Beban, partners with Saudi-based GFH Capital S.A.
Saudi-based businesses can apply for season 3 online through hopefund.bh/beban by July 23rd. The expansion comes in line with GFH Capital’s efforts to support Saudi-based businesses in their entrepreneurial journeys and provide them with the tools, resources, and networks needed to grow and scale across the region. Having aired for two seasons, Beban featured a total of 62 businesses of various sizes and resulted in successful co-investments by the private and public sectors exceeding USD 6 million in GCC-based startups.
Through the partnership, GFH Capital will sponsor Saudi businesses’ participation in Beban TV show, which is centered around promising entrepreneurs as they pitch their existing businesses for equity investment and business development opportunities before a panel of regional investors of the private sector who can strategically accelerate the growth and expansion of these businesses to international markets.
Furthermore, Beban entrepreneurs will also benefit from the intensive training bootcamp they will undergo as part of the Beban journey to develop their businesses in various aspects like expansion planning, financial modeling, and pitching in front of a panel of regional investors on a televised show.
Commenting on the partnership, Mr. Razi AlMerbati, CEO of GFH Capital, shared: “Saudi Arabia features one of the most exciting and vibrant startup ecosystems, not just in the region, but globally. We are thrilled to partner with Beban in a move that underlines our commitment to the growth of entrepreneurialism and business development in line with Saudi’s Vision 2030. Through this collaboration, we aim to empower aspiring entrepreneurs to transform their innovative ideas into successful ventures. We are proud to support the cultivation of an ecosystem that fosters innovation, drives economic growth, and nurtures the next generation of business leaders.”
On her part, Fajer Al Pachachi, General Manager at Hope Ventures, said: “We created Beban to act as an investment platform that facilitates a borderless and seamless flow of regional co-investment opportunities alongside the private sector in promising businesses. We are truly excited to be partnering with GFH Capital to expand Beban to the Kingdom of Saudi Arabia, as it aligns with our objective of Beban and because we believe in the caliber and the potential of Saudi businesses. We look forward to welcoming their applications and participation in season 3 of Beban.”
It is noteworthy to mention that entrepreneurs will be selected through an evaluation process comprising five stages, starting with screening businesses for viability based on certain criteria, followed by an evaluation stage led by experts and specialists in the business sector. Candidates will then be nominated to participate in an intensive training bootcamp stage. The final stage will announce the eligible finalists, who will then go on to film the production’s episodes.