Spring

What Spring does

Spring is a Bahrain-headquartered venture-building and innovation platform operating across the GCC (Bahrain, Oman, UAE, Qatar) that designs and delivers custom programs for governments, corporates, and institutional investors. The company is organized around six integrated service lines: Spring.Accelerator (cohort-based startup acceleration programs), Spring.Studio (venture building-as-a-service that co-creates startups with corporates and institutions), Spring.Fund (the affiliated Oryx Fund vehicle backing early-stage startups), Spring.Ecosystem (public-sector partnership programs for national innovation strategies), Spring.Scale (softlanding support for international startups entering GCC markets), and Spring.Corporate (innovation sprints, hackathons, startup scouting, and executive workshops for large organizations). The core deliverable is program design, venture-building methodology, and ecosystem activation services rather than proprietary software; Spring has no consumer app, public API, or AI/ML product.

Revenue is generated primarily through professional-services engagements commissioned by sponsoring entities, with custom quote-based contracts and no publicly disclosed pricing. Anchor government mandates include a two-year MBRIF contract under the UAE Ministry of Finance (2025-2026, four accelerator cohorts of 18-22 startups), the Riyada Business Accelerator with Bahrain's Tamkeen (3-year engagement, 36 startups across six cohorts), and the TASMU accelerator in Qatar. Corporate engagements (Mastercard, Solidarity, Omantel, Bapco, CPISP) are typically scoped as hackathons, bootcamps, or innovation sprints. Spring also supports sourcing, vetting, and portfolio support for the Oryx Fund and reports 270+ startups supported, 250+ mentors in network, and $4.9M+ raised by Spring Studios portfolio companies.

The company is privately held and backed by Salica Investments (formerly Hambro Perks), Al-Waha Fund of Funds, and Faraday Investments, with ITHCA Oman as an LP in the Oryx Fund. Operationally, Spring runs with a lean team of approximately 15-20 people led by Managing Partner Steven Chang and Managing Director Zainab Khamis, operating from Manama, Bahrain, with a contact footprint (+973 country code) consistent with a single regional headquarters.

Name

Spring

Legal name

Spring

Website

https://springco.io

Company type

Private

Operating status

Operating

Headcount range

11–50 employees

Short description

Spring is a Bahrain-based venture-building and innovation platform that designs and delivers custom accelerator programs, venture-building engagements, and ecosystem partnerships for governments, corporates, and institutional investors across the GCC (Bahrain, Oman, UAE, Qatar).

Ownership category

akta.pro rank

Product category

Venture Building and Innovation Services

SIC

Services-Management Consulting Services (8742)

akta.pro primary industry

Corporate Venture Studios & Incubators (Build/launch ventures) (FSANAHAC)

akta.pro secondary industries

Corporate Accelerators & Startup Programs (FSANAHAD), Venture Studios / Company Builders (FSANAAAH)

Keywords

• Venture studio services
• Startup acceleration programs
• Venture building platform
• Corporate innovation consulting
• Ecosystem development services

Headquarters

HQ city

Manama

HQ country

Bahrain

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Accelerator Program Design & Delivery: Spring designs and runs custom cohort-based accelerator programs for governments, development funds, and corporate partners. Revenue is earned through program fees negotiated with sponsoring entities. Programs like MBRIF (2-year contract), TASMU, and Riyada Business Accelerator are commissioned engagements.
2. Venture Building-as-a-Service: Spring.Studios helps corporates and institutions transform challenges into ventures. Services include challenge identification, solution design, venture incubation, and operational support. Revenue generated through engagement fees with corporate and institutional clients.
3. Corporate Innovation Consulting: Spring.Corporate provides innovation sprints, executive workshops, startup scouting, hackathons, and internal venture building for large organizations. Services include open innovation programs and curated startup collaboration.
4. Fund Management Support: While Spring does not deploy capital directly, the Oryx Fund (venture vehicle) provides funding to startups. Spring supports the fund's investment lifecycle including sourcing, vetting, and portfolio support, earning fees or carried interest.

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

Spring designs and operates custom cohort-based accelerator programs, venture-building engagements, and corporate innovation services for governments, development funds, and corporates across the GCC. The firm co-creates startups from scratch with institutional partners through its Spring.Studios platform, manages early-stage investments via the Oryx Fund (Spring.Fund), and supports international startups entering the GCC market through soft-landing services. All engagements are commissioned B2B contracts with tailored program design, mentorship networks, and investor matchmaking.

Product overview

Spring operates as a multi-module innovation and venture-building platform offering six integrated programs: Spring.Fund (investor network through the Oryx Fund for early-stage funding), Spring.Studios (venture building-as-a-service for creating startups from challenges), Spring.Accelerator (cohort-based acceleration with mentorship and investor access), Spring.Ecosystem (government and policy partnerships for national innovation), Spring.Scale (GCC market entry and softlanding support), and Spring.Corporate (corporate innovation and venture incubation). The platform combines startup programs, venture building, and funding to support high-potential founders across the GCC region.

Differentiator

Problem solved

Functional benefit

Products and services

• Spring.Fund Spring's investor network that provides early-stage investment capabilities in the GCC region through the Oryx Fund, helping startups become investment-ready and connecting them to funding partners.
• Spring.Studios Venture building-as-a-service platform that helps corporates and institutions transform challenges into sustainable businesses through product thinking, operational support, and venture execution. Co-creates startups from scratch and partners with innovators.
• Spring.Accelerator Cohort-based startup acceleration engine that helps early and growth-stage founders refine business models, validate markets, and scale faster through structured learning, mentorship, and investor matchmaking.
• Spring.Ecosystem Partnership programs with public and private entities to design and activate entrepreneurship ecosystems, including national innovation strategies, accelerators, pitch competitions, and grassroots community initiatives.
• Spring.Scale Soft-landing support service providing hands-on market support, founder readiness diagnostics, local partner access, investor connections, and ecosystem navigation for international startups entering the GCC market.
• Spring.Corporate Corporate innovation programs including innovation sprints, executive workshops, startup scouting, hackathons, open innovation challenges, and internal venture building to help corporates transform through innovation.

Quantifiable outcome

• 270+ startups supported across programs
• +4 more outcomes

Named customers8 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Seven partnerships are on record, tiered core and supporting.

• TamkeencoreStrategic or Co-development PartnerBahrain's Labour Fund is a key government partner commissioning programs including the Riyada Business Accelerator (3-year engagement) and Raise: Art of Fundraising bootcamp. Tamkeen funds and Spring delivers startup support programs.
• Mohammed Bin Rashid Innovation Fund (MBRIF)coreStrategic or Co-development PartnerUAE government initiative under Ministry of Finance. 2-year contract (2025-2026) for Spring to design and deliver 4 acceleration cohorts with 18-22 startups per cohort focused on Dubai market entry.
• Crown Prince's International Scholarship Program (CPISP)supportingStrategic or Co-development PartnerSpring facilitated a hackathon for CPISP's 25th anniversary celebration, engaging 190+ scholarship students/alumni in entrepreneurial workshops.
• SolidaritysupportingStrategic or Co-development PartnerInsurance company partner for the InsurTech Hackathon (August-September 2023). Collaboration with General Assembly and Tamkeen to foster innovation in the insurance industry.
• MastercardsupportingStrategic or Co-development PartnerFinancial Inclusion Challenge organized in collaboration with leading fintech partners in Bahrain. University students created innovative data-driven solutions aligned with UN SDGs. Winners presented at Bahrain Fintech Forward.
• Oman Technology Fund (OTF)coreStrategic or Co-development PartnerCo-investor with Salica Investments (Hambro Perks) in the British-Omani Technology Gateway, facilitating cross-border startup expansion between UK and Oman.
• StartUp BahrainsupportingStrategic or Co-development PartnerNational ecosystem partner collaborating with Spring and Tamkeen on the Raise - Art of Fundraising bootcamp series.

Scale indicators11 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Brinc: Hong Kong-headquartered venture accelerator and corporate innovation services firm with MENA operations. Comparable to Spring.Corporate's innovation program design and venture-building engagements.
• Antler: Global early-stage venture firm that builds and funds startups from day zero. Operates cohort programs across MENA including Bahrain — comparable to Spring's studio-plus-fund model.
• Flat6Labs: Pan-MENA early-stage seed accelerator and venture fund. Operates cohort-based programs across multiple MENA geographies and runs an early-stage fund — directly comparable to Spring's Spring.Accelerator + Spring.Fund combination.
• Falak Startups: UAE-based accelerator backed by the Dubai Holding family, running cohort programs and ecosystem initiatives. Closely comparable to Spring.Accelerator's government-commissioned cohort model in the GCC.
• Hub71: Abu Dhabi-backed tech ecosystem and accelerator offering cohort programs, founder support, and corporate partnerships. A direct peer given Spring's UAE-focused MBRIF engagement and GCC-wide footprint.
• AstroLabs: Dubai-headquartered accelerator and ecosystem builder focused on GCC market-entry for startups and corporate innovation programs. Highly comparable to Spring.Scale + Spring.Corporate offerings.
• Tamimi Ventures: Saudi Arabia-based corporate venture studio and innovation platform building ventures with founders and corporates. Closely mirrors Spring.Studios' venture-building-as-a-service model.
• 500 Global: Global venture firm running accelerator programs and seed funds across emerging markets, including MENA. Comparable to Spring.Accelerator's cohort programs and Spring.Fund's seed-stage investment angle.

Broad incumbents

• Plug and Play: Global innovation platform and corporate venture arm running accelerator programs in multiple regions including MENA. Comparable in corporate innovation and accelerator design but operates at much larger scale than Spring.

Emerging players

• StartUp Bahrain: Bahrain's national startup ecosystem platform, a Spring partner on the Raise bootcamp series. Adjacent rather than directly competing — focuses on ecosystem activation and promotion while Spring delivers execution.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat4 records

Key risks4 records

Key highlights5 records

Customer concentration

• LinkedInlinkedin.com/company/spring-co-io
• Instagraminstagram.com/springco.io

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Spring