Tenmou is now open to applications for our first batch of innovative entrepreneurs! The start of the Tenmou program will be on 10th January 2011
- If you want to apply, please submit your application online by 10th January 2011. The earlier you submit your application the better! We have more time to read your application!
- Next, we'll invite the shortlisted groups that have a strong team and innovative idea to our offices for an interview
- We will select the teams we will fund after the interview process. Our offer will include the amount we'll invest and the percent of the company we'd want for it. We usually invest on average around BD20,000, in return for between 20% and 40% of the company. We would in some case also be able to secure co-investment from our partners.
- Once you’re accepted, we'll immediately start helping you set up your company, especially getting your CR.
- As soon as your company exists you’ll have access to the money we’ve invested in you. We’ll help you with the cash management along the way, by drawing up a plan for you. You can spend the money however you need to make your company a success.
- Tenmou is not an incubator centre. We can arrange space for you to can use if you need to, but we expect you to work from anywhere you can, even at home or in your garage. A lot of successful start-ups started this way: it makes sense for a lot of reasons!
- During February to April every Sunday and Tuesday we'll invite an expert in some aspect of startups to advise and speak with all the entrepreneurs. This would followed by an informal session, usually with food involved.
- We have regular office hours year round for startups who want to talk about what they're building, or get advice on dealing with investors. We’re always available to you to help you with whatever you need, even an introduction or some advice on anything. We also have occasional events at Tenmou in the afternoons.
- Other than the expert speakers, the business angels and advisors, we will introduce you individually to people we feel will be able to help you. Our shareholders and partners tend to be especially helpful. They're usually very willing to give advice or make introductions.
- After completing the 3 months intensive mentorship, you will get a chance to present your company at our investor days to get some later stage investors to take you to the next level if you need it. You can of course seek additional funding from any investor whenever you want.
- That’s not all Tenmou will give you. It’s not just 3 months, that’s only the structured mentorship program. We continue to give you advice and make introductions as long as you need and the informal network of Tenmou shareholders and partners continues to grow
How do we choose who to fund? The people in your group are what matter most to us. We look for honesty, determination, brains, motivation, and a sense of design, and a will to succeed against all odds. Experience is helpful but not critical.
Your idea is important too, but mainly as evidence that you can have good ideas. The idea should be innovative, something new for the region and scalable to expand outside of Bahrain. Most successful startups change their idea substantially, so we can help you develop your concept.
The ideal company would have two or three founders. We'll consider those with four or five. We're not looking for one-person companies. A start-up is too difficult to do completely on your own.
You don’t need to have a formal business plan. All you have to do is fill out our application. BD20,000 turns out to be enough for many companies to start on their way to positive cashflows. It will usually cover significant working capital, and that is enough to build something real. It's better for you to take little money in the earliest stages, because you give up less control for it. It’s also in your interest to keep your cost base as low as possible in the early stages, to get to breakeven quicker.
The Business Angels behind Tenmou really believe in your potential success and want to help, but this is not a charity. If our investments pay off, we can invest in more startups, and if they don't, we can't keep doing this forever. So we're looking for startups we think will succeed.
