Sam Dolbel, Sinc & Saleh Abbas, Flat6Labs | AWSPSSummit Bahrain 2019
>> from Bahrain. It's the Q covering AWS Public sector Bahrain brought to you by Amazon Web service is >> Welcome back. It runs the cube coverage for Amazon whips were summoned by rain and Middle East jump for cloud computing. Our startup panel at two great guests. So, Abdullah, who's with Flat Labs? Flat? Six Labs Incubator Investor. Same dull bet with sink. Sorry. So sorry They got that wrong with little glare on my spring there. Thanks for coming on. Appreciate it. Guys, start up. Scene here is robust. Last year from this year, More energy, more deployed capital because you're deploying capital. You're building a company. Give us the update start. >> Yeah, I would say over the past year, just our Bahrain location alone. We've already hit 23 startups that we've invested in, and we're looking to increase that number by about 68 start ups every six months. Um, as you've seen over the past year and Amina region and the GCC, there's rapid growth in the startup scene. Um and we're slowly starting to see each vertical fill up with the relevant startups and get more saturated. I think for a while we were one of the regions that were a lot less saturated when it came to our local startup because systems and the rest of the world The good thing is, now that we've gotta love the financial infrastructure into place, flat six Labs is one of them. And I think that's where we really um, we're lacking support before on DSO were signed to feel see players come into every stage of the startup growth be ableto help the stops raise their seed funds. Siri's a Series B >> and your role here is outreach building out my rain. Yet where the Economic Development Board trying to figure out that put together an entrepreneur strategy and not figure it out. We know what it is. You get money? Yeah, yeah. Party together, >> Yes. So what we're trying to do is there's two main things. One is that we're trying Thio finally be the first kind of financial investor that can help people going from a full time job in tow. You know, full time entrepreneurship rolls on to give them access to three of the biggest barriers that they usually will face, which is a business development network mentorship on Capitol andan. Everything that we're doing is weed. So personally, What I take care of is that I go to a lot of the international events around the globe, would start up because systems and try and find very early stage founders and educate them on the market. The region see where people would fit, where the gaps are in the market on dumb kind of raise awareness of old advantages that we have here in Bahrain. >> What makes you guys different? What's the differentiation >> as a country or as flat six labs? Both. So I'd say, as a country behinds in a very unique position where we have, ah, cultural mindset that is very easy for a lot of foreigners and expatriates to adapt to, Um, I think we've even been ranked number one in the world as a place for expect us to live several times on DA number. Thing is that we have a very high skilled workforce. Um, overhead costs are lower. So, for example, when it comes to the cost of rent when it comes to hiring a team, you also have subsidies that come into place like Tom Keen, uh, which Sam has also benefited from where if you go and you hire fresh graduate Bahrainis, you'll get >> ah, >> large margin of that subsidized by the government. So you're looking at, ah, mix where you have a high quality of life. But at the same time, it's the best starting point for a lot of start ups. Because you can extend your runway. You have, ah, much lower cash burn, and at the same time you've got one of the biggest market places right next door, which is Saudi Arabia, is the 30 minute drive across the bridge. So we've kind of got the best of all worlds over here, and and because we're a small country, we have a government that's incredibly reactive. So the regulatory authorities are very close with the startup ecosystem, for example, were always involved in the economic development board round table meetings on the ministries, all working closely together to try and make this as friendly and atmosphere is possible for the startup >> and they're authentic. That's interesting and see government authentically aligning. >> Yeah, it's in the interest of entrepreneur, I would say. One thing we really have going on is it's really an nationwide initiative from the founders to the private entities and investors like us and to the governmental agencies where we all are really dedicated towards making this start up >> san talk about your company. What do you guys do and what's your situation? >> Right? So my company's name is sinking. We're software as a service company that helps businesses manage the really hard aspects of managing their employees like things like timesheets scheduling. Job safety is a big one for us and job costing, and our target market is actually us small businesses and way were early stage company, and we met Salar and Flat six Labs, and they convinced us to come sit up here in Bahrain and never looked back. But the access to talent here is just amazing the cost of very low and were able to do a lot of a very small amount of money. And so far we've got to a total of four and 1/2 1000 U. S. Businesses using the platform. And we've done that all here from Bahrain, >> so very low, low cost leverage, a model, and that's because of the substance of just talent >> as a >> mixer, so it's a little bit cheaper to hire. People have more access to tell him it's a number of things. It's both of those things. >> Yeah, the university programs were interesting there. Got a degree in cloud Computing. They announced that we heard that news today. I mean, that's compelling. I mean, have you want to make the market just teach it? Yeah, exact. This is good, I think. >> I think the good thing is that everyone's come to an understanding that all parties have to get actively involved to make it the right atmosphere. So the universities are also working very closely with us hand in hand. And I've seen Percy a gigantic improvement over the past year where their senior projects of the universities are turning out where they got legitimate startup. It's Dex on Dhe. Some of them are even ready to go straight into acceleration, which was not the case a few years ago. So everybody's really on board. >> That's one of things we met last year in the economic Dillman for that round table. Lotte. I won't say complaints but concerns, and they're very listening to the whiteboards out their charts. How are they doing? Checking the boxes? They are checking the items off, moving these blockers and what's remaining in your mind in terms of things to make it frictionless. >> Yeah, I'd say like there's so far. We've done a great start andan the space of a year. We've accomplished a lot. But of course there's still shifting the whole mentality to understand the startup scene and also, you know, to get people to be less as, ah, cultural mentality, risk averse and start letting people feel that failure is an okay thing. It's okay to go straight out of university and give it a shot and try and start your own startup, Um, and also educating people of all the tools that are available to them. So although we do a lot of outreach and roadshows, still, there's, ah, a lot of people that need to be educated on how exploration works, how the VC side of it works. And I'd say another thing. We need Thio See coming is bridge funds. So we've got people that are ready to come in at Siri's a that precede that seed. But then there's usually these gaps where we need to kind of help Fila's well to keep people on target towards seriously >> like a bullpen. Capital kind of model. Like Paul Martinez Company? Yeah, sass coming that are in between being Air B or B and C just need that little bridge. Yeah, exactly. That. Just >> that extra runway so that they can hit the targets that the later stage investors want us. >> Guys, give it plug for your reference. What you working on? Now? What do you quit your to do? Item? What's, uh what's the plan? Give a pitch for the company. >> Looks way No. The first company to attack time tendons. And we won't be the last. But where we think that we can win his job costing and job tracking, which is something that the customers that we talked to it really screaming out, too. So we've been building a really complex but simple to use system for managing jobs the last 3 to 6 months, and we're about to deploy that to our users in a few weeks. We're very excited about that. And that's really our secret source. We just a lot of guys doing the time in attendance. We're doing it very well, but we want to be the best of jobs. And we also want to stay laser focused throughout our particular users, which is actually employers with 1 to 20 employees in the states. And that's actually that actually makes up 89% of all employers in the States. And it's very hard to historically to find these guys. But we'll be having a smart phone in their pocket. It's actually becoming easier and easier for us, and we find it. >> And those coming need the most help, too, because they're the ones that could grow to 50 employees next. Exactly. So what's the U. R L? Our website and app Tick and download. What's the head of someone contact U S. >> So they will go to sync dot business and they can use the Web version there. But we also have to mobile app so we could be found in the APP store and on the place. >> Awesome. Congratulations and updates for you guys. What's next for you here by rain in general? >> Well, in Bahrain and Demeanor Region, we're continuing to expand their several locations that we're gonna launch again as accelerator programs on dhe. Locally, over here, we're always accepting applications from international startups. We're actually having our demo day tomorrow So you should drop by if you're gonna be here. Yes. Did I would be great if you come down and a CZ that happens. We're accepting applications to the next cycle on dhe. They can just log onto flat six labs, bahrain dot com All the information's over there. And if they want to get in touch with me, they can just put my name into Lincoln. So >> I beat him up into a system, and when they're ready to accelerate, they go. Good to go. Congratulates. Good job, guys. Thanks for the update. Startup scene is robust here by rain. The Cube coverage for our second year covering Amazon Web service is summit. I'm Jumper Stevens for more coverage after this short break.
SUMMARY :
from Bahrain. It's the Q covering AWS It runs the cube coverage for Amazon whips were summoned by rain and Middle East jump for and Amina region and the GCC, there's rapid growth in the startup scene. and your role here is outreach building out my rain. What I take care of is that I go to a lot of the international events around the globe, as a country behinds in a very unique position where we have, ah, large margin of that subsidized by the government. and they're authentic. nationwide initiative from the founders to the private entities and investors like What do you guys do and what's your situation? But the access to talent here is just amazing the cost of very low and were able to mixer, so it's a little bit cheaper to hire. Yeah, the university programs were interesting there. of the universities are turning out where they got legitimate startup. They are checking the items off, moving these blockers and what's remaining in the startup scene and also, you know, to get people to be less as, Yeah, sass coming that are in between Give a pitch for the company. lot of guys doing the time in attendance. What's the head of someone contact U S. could be found in the APP store and on the place. Congratulations and updates for you guys. They can just log onto flat six labs, bahrain dot com All the information's over there. Thanks for the update.
SENTIMENT ANALYSIS :
ENTITIES
Entity | Category | Confidence |
---|---|---|
Tom Keen | PERSON | 0.99+ |
Bahrain | LOCATION | 0.99+ |
1 | QUANTITY | 0.99+ |
Sam | PERSON | 0.99+ |
Last year | DATE | 0.99+ |
Economic Development Board | ORGANIZATION | 0.99+ |
30 minute | QUANTITY | 0.99+ |
50 employees | QUANTITY | 0.99+ |
one | QUANTITY | 0.99+ |
Amazon | ORGANIZATION | 0.99+ |
Abdullah | PERSON | 0.99+ |
23 startups | QUANTITY | 0.99+ |
three | QUANTITY | 0.99+ |
Flat Labs | ORGANIZATION | 0.99+ |
this year | DATE | 0.99+ |
last year | DATE | 0.99+ |
One | QUANTITY | 0.99+ |
Flat six Labs | ORGANIZATION | 0.99+ |
Saudi Arabia | LOCATION | 0.99+ |
89% | QUANTITY | 0.99+ |
Both | QUANTITY | 0.99+ |
both | QUANTITY | 0.99+ |
tomorrow | DATE | 0.99+ |
Paul Martinez Company | ORGANIZATION | 0.99+ |
AWS | ORGANIZATION | 0.99+ |
second year | QUANTITY | 0.99+ |
two main things | QUANTITY | 0.99+ |
20 employees | QUANTITY | 0.99+ |
Siri | TITLE | 0.98+ |
first | QUANTITY | 0.98+ |
Salar | ORGANIZATION | 0.98+ |
today | DATE | 0.98+ |
Sam Dolbel | PERSON | 0.97+ |
six labs | QUANTITY | 0.96+ |
DSO | ORGANIZATION | 0.96+ |
few years ago | DATE | 0.95+ |
Demeanor Region | LOCATION | 0.95+ |
two great guests | QUANTITY | 0.95+ |
each vertical | QUANTITY | 0.95+ |
GCC | ORGANIZATION | 0.95+ |
Flat6Labs | ORGANIZATION | 0.95+ |
6 months | QUANTITY | 0.94+ |
past year | DATE | 0.93+ |
Lotte | PERSON | 0.93+ |
Percy | PERSON | 0.93+ |
about 68 start ups | QUANTITY | 0.92+ |
Lincoln | LOCATION | 0.91+ |
Middle East | LOCATION | 0.91+ |
Thio | PERSON | 0.89+ |
Jumper Stevens | PERSON | 0.88+ |
a year | QUANTITY | 0.87+ |
flat six labs | ORGANIZATION | 0.86+ |
four | QUANTITY | 0.85+ |
every six months | QUANTITY | 0.84+ |
3 | QUANTITY | 0.82+ |
Series B | OTHER | 0.81+ |
first company | QUANTITY | 0.81+ |
Fila | ORGANIZATION | 0.81+ |
dot com | ORGANIZATION | 0.81+ |
U S. | LOCATION | 0.78+ |
Saleh Abbas | PERSON | 0.78+ |
number one | QUANTITY | 0.74+ |
One thing | QUANTITY | 0.73+ |
Thio | ORGANIZATION | 0.71+ |
Dillman | PERSON | 0.71+ |
Capitol andan | LOCATION | 0.7+ |
U. R | LOCATION | 0.67+ |
Flat | ORGANIZATION | 0.64+ |
1/2 1000 U. | QUANTITY | 0.64+ |
Amina | LOCATION | 0.64+ |
Sinc | ORGANIZATION | 0.64+ |
flat six Labs | ORGANIZATION | 0.62+ |
Bahrainis | PERSON | 0.57+ |
bahrain | OTHER | 0.55+ |
AWSPSSummit | EVENT | 0.54+ |
2019 | EVENT | 0.54+ |
Six Labs | QUANTITY | 0.48+ |
Cube | COMMERCIAL_ITEM | 0.48+ |