C5 Accelerate Limited, a London- and Bahrain-based technology investment firm, launched the Cloud Accelerator in the Middle East and Africa, which will be located in Bahrain.
Working with Amazon Web Services (AWS) and the Bahrain Economic Development Board (EDB), the Cloud Accelerator aims to drive growth in the local and regional business ecosystem by enabling the adoption of cloud technology.
The program will develop and fund businesses from across the region with a focus on technologies that align with the economic priorities of the Gulf Cooperation Council (GCC), including, but not limited to, manufacturing, financial services and technology sector-development.
The accelerator will provide business with resources to develop a cloud-based commercial strategy, enhancing their ability to attract future investment.
A cohort of up to ten qualifying businesses will be invited to work from the Cloud Accelerator premises in Bahrain for four months.
During this time, they will benefit from interaction with fellow program participants, training in strategy and business principles, and mentoring from C5 Accelerate and its network of global business leaders.
AWS will further support each of the participants with established programs including AWS Activate, AWS Grants, AWS Training and Certification, and developer-level support, which have been designed to support businesses developing on the AWS Cloud.
The businesses will benefit from connectivity with potential customers, guidance from industry experts and the opportunity to work closely with a network of corporate partners which will provide a range of business assistance across areas such as commercialisation, venture funding, and business services.
Participant businesses will be eligible for funding from the Cloud Accelerator’s $100m allied venture capital fund, the Gulf Technology Corporation, which will be managed by C5.