Bahrain Aims for Silicon Valley Status
Looking to reduce its reliance on oil and gas, the Gulf kingdom is attracting tech startups in fields as wide-ranging as food, fitness and fintech. Bahrain’s government has subsidized accelerator and incubator programs and granted startups full ownership and zero taxes — a first for the Middle East. Despite a relative dearth of venture capitalists, the effort is working: Home to only 6 tech startups in 2015, Bahrain now boasts 75. Using the island nation as a base, these new companies are looking to expand across the region and beyond.