“Tamkeen” supports “Trillion Tree Fund” through the innovation program
The “Tamkeen” Labor Fund has announced its support for the innovative and first-of-its-kind concept in the region known as the “Trillion Tree Fund”, founded by Bahraini social entrepreneur Leena Al Olaimy. This support is part of the Innovation Program which enables Bahraini individuals and companies to conduct research and development in order to innovate and find solutions to real-life problems. In addition, the program aims to stimulate the growth of startups in the field of technology and innovation by supporting research, prototype development, testing and the launch of new products. The Trillion Tree Fund will also benefit from the national employment program to employ qualified Bahrainis and provide them with specialized environmental expertise and knowledge.
The Trillion Tree Fund presents an innovative and creative business model, which aims to connect investors with profitable land and forest restoration projects. Their specialized “Symbaiosys” platform will use artificial intelligence, scientific research and market data to provide insights into how restoration projects can protect investors’ assets from climate-related losses such as hurricanes. , flooding, sea level rise and others.
The platform can also be used to invest in projects related to environmental and social governance (ESG). Although the platform is global, it will focus on countries with the greatest potential for forest and land restoration, such as the United States, Canada, Australia, China, Russia, Brazil and other countries. ‘others. Targeted investors range from the banking industry, asset managers, pension funds, governments, insurance companies, family offices, endowments, property developers and multinational corporations who pledge to support climate change, preserve nature or reduce their carbon emissions.
On this occasion, Mrs. Maha Mofeez, Acting Managing Director of the Labor Fund (Tamkeen) underlined the importance of supporting Bahraini companies that are tackling current global issues. She said, “We are proud to support Bahraini women through our various programs, including the Innovation program, which aims to empower innovative Bahraini businesses, especially in the early start-up phase, as this requires research. and development to facilitate the design and implementation of prototypes. We are also proud of this pioneering Bahrain project, which positions Bahrain as a regional innovation leader.”
In addition, Ms. Maha Mofeez underscored Tamkeen’s commitment to achieving its main objectives which are to make the private sector the key driver of economic growth and to increase Bahrain’s competitiveness both locally and internationally in line with priorities. national policies and the economic recovery plan. She added “We will continue to support all sectors while encouraging high potential sectors because of their potential impact on the national economy and creating sustainable high quality jobs for local talent.”
Ms. Leena Al Olaimy, Founder of the Trillion Tree Fund, expressed her gratitude for the Kingdom of Bahrain’s support for start-up startups, praising Tamkeen’s efforts during this critical stage of her business, saying:
“Symbaiosys is building an AI-based science platform that connects environmental and market data to provide insights into the financial value and impact of land and marine restoration. Users will also have access to research projects. nature-related investment Our vision is to mobilize conservation funding at the scale of hundreds of billions of dollars per year.
Without the support of Tamkeen, I would not be able to work with experts in AI, environmental data science and quantitative ecology to create such an R&D intensive product. Their support demonstrates Tamkeen’s commitment to local innovation and its recognition of the importance of climate change and the preservation of the planet for future generations. »
She added, “Tamkeen’s confidence in the impact of our project through their support will increase our chances of securing greater investment from around the world.”
“Trillion Tree Fund” has received several awards and accolades from several entities that support innovation, including the Bahrain FinTech Accelerator in collaboration with the Supreme Council for Women and Bahrain FinTech Bay, through which it received a financial grant from $10,000. In addition to winning the best startup in the idea phase at the Entrepreneurship World Cup in last year’s edition, thanks to which it received $100,000 and was selected as the best startup in the final stage among 100,000 applicants from all over the world.
Tamkeen continues to support all companies that aim to increase their productivity by receiving support through the sixteen programs launched earlier this year, due to their vital role in the growth of the national economy and their impact positive economy.