“Tamkeen” Supports “Trillion Tree Fund” through the Innovation Program
The Labour Fund “Tamkeen” announced its support for the innovative and first of its kind concept in the region known as “Trillion Tree Fund”, founded by Bahraini social entrepreneur Leena Al Olaimy.
This support comes as part of the Innovation Program which empowers Bahraini individuals and enterprises to conduct research and development in order to innovate and come up with solutions to real life problems.
Furthermore, the program aims to stimulate the growth of startups in the field of technology and innovation through supporting research, prototype development, testing and launching new products.
Trillion Tree Fund will also benefit from the National Employment Program to employ qualified Bahraini individuals and provide them with specialized expertise and knowledge in the environmental field.
Trillion Tree Fund presents an innovative and creative business model, which aims to match investors with profitable land and forest restoration projects.
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Their specialized platform “Symbaiosys” will use Artificial Intelligence, scientific research and market data to provide insights on how restoration projects can protect investor assets from climate-related losses such as hurricanes, floods, rising sea levels and others.
The platform can also be utilized to invest in projects related to environmental and social governance (ESG).
While the platform is global, it will focus on the countries with the highest potential for forest and land restoration, such as the United States, Canada, Australia, China, Russia, Brazil and others.
The targeted investors range from those in the banking sector, asset managers, governments, insurance companies, real estate developers and multinational companies that are committed in supporting climate change, preserving nature or reducing their carbon emissions.
On this occasion, Ms. Maha Mofeez, Acting Chief Executive of the Labour Fund (Tamkeen) emphasized the importance of supporting Bahraini enterprises that tackle current global issues.
She stated: “We are proud to support Bahraini Women through our various programs including the Innovation program.
"It aims to empower innovative Bahraini enterprises especially during the early startup stage as it requires research and development to facilitate the design and implementation of the prototypes."
In addition, Ms Maha Mofeez emphasized Tamkeen’s commitment to achieving its main objectives which is making the private sector the key engine of economic growth and increasing Bahraini’s competitiveness both locally and internationally in line with the national priorities.
She added “We will continue supporting all sectors while incentivizing high potential sectors due to its potential impact on the national economy and in creating high quality sustainable jobs for local talent.”
Ms Leena Al Olaimy, Founder of Trillion Tree Fund expressed her gratitude for the support provided by the Kingdom of Bahrain for early-stage startups, praising Tamkeen’s efforts during this critical stage of her business, saying:
"Symbaiosys is building a science-based AI-powered platform that connects environmental and market data to provide insights on the financial value and impact of land and marine restoration.
"Users will also have access to nature-related investment projects. Our vision is to mobilize conservation finance at the scale of hundreds of billions of dollars annually."
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