C5 Accelerate Limited, a London and Bahrain-based technology investment specialist has announced the launch of a Cloud Accelerator focused on startups in the Middle East and Africa with businesses in the manufacturing, financial services and technology sector.
The Cloud Accelerator, which will located in Bahrain, aims to drive growth in the local and regional business ecosystem by enabling the rapid adoption of cloud technology, which offers many distinct advantages over traditional IT infrastructure.
The accelerator programme will provide businesses with resources to develop a cloud-based commercial strategy, thereby enhancing their ability to attract future investment.
“The Middle East and Africa region has a burgeoning startup scene and is well placed to leverage the potential of the cloud. Our Cloud Accelerator aims to drive this innovation further and boost the region’s economy,” CEO of C5 Accelerate Limited, Daniel Freeman said in a press release.
He added, “Our ‘AWS Activate’ pilot program in Bahrain already demonstrates the investment potential of the region’s technology sector and we are thrilled to be working with AWS, a leading cloud computing provider to develop an innovation hub for the region and a catalyst for further investments.”
10 qualifying businesses will be invited to take part in the four months Cloud Accelerator, during which time they will benefit from interaction with fellow participants, training in strategy and business principles and mentoring from C5 Accelerate and its network of global business leaders.
Amazon Web Services (AWS) will further support each participants with established programs such as AWS Grants and AWS Training and Certification, which has been designed to support businesses developing on the AWS Cloud.
The participants will be eligible for funding from the C5-managed Cloud Accelerator’s US$100million allied venture capital fund, the Gulf Technology Corporation.
C5 Accelerate Limited partnered Amazon Web Services, Tamkeen and the Bahrain Economic Development Board to launch the Cloud Accelerator.
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