Last Update November 14, 2016


  • Emerging Technologies (Nanotechnology, Biotechnology, etc)
  • Others

The National Technology Enterprises Company (NTEC), was established in November of 2002 and operational in late 2004, by the Kuwait Council of Ministers as a fully owned subsidiary of the Kuwait Investment Authority (KIA). Capitalized initially at 100 Million Kuwaiti Dinars (Approximately 350 Million U.S. Dollars), with a paid up capital of 45 Million Kuwaiti Dinars. NTEC was created to play a vital role in servicing major stakeholders in Kuwait with their technology needs.

NTEC's business model is that of a technology projects development company utilizing investment tools such as Private Equity, Venture Capital and Direct Investment with a mission to lead both government and private sectors in the development and application of leading edge technology. NTEC invests in high potential companies that are fully developed or at the forefront of developing new technologies which will be beneficial in the development of not only the State of Kuwait but the region as a whole.

NTEC is also expanding on its relationships with the various governmental agencies in order to position itself as a technology gateway and advisor for both governmental and private sectors; thus, bridging the gap between both sectors and attempting to support the nation's aggressive development plan.

As part of its operational focus is International Corporate Venture Capital investments; NTEC drives to create viable and financially attractive investment opportunities, with clear exit strategies and favors a co-investment role.

Since 2004 NTEC has been active in Venture Capital investments within the International market and has been able to build strong relationships with technology companies and tier-1 Technology Funds. NTEC actively invested, till date, in 23 technology companies as direct investments and 10 Technology Funds in Europe and in the USA. In addition, the investment projects’ team have had the opportunity to work closely with Technology Funds’ managers, on a secondment basis, thus gained the necessary tools and experience to be able to conduct thorough and complete due diligence on companies and funds as well as anticipate and recommend appropriate exit strategies.

Furthermore, due to its position and mandate, NTEC has built strategic relations with R&D centers and universities, local & regional investment community and industry leaders.

NTEC is able to offer a range of services in line with such experiences and relationships, with services being offered to government and private entities in various areas of technology.

With the strict professional ethics, internal management system, experience and its newly created Business Development Department, NTEC is confident of its ability to provide and support the following services:

  • Technology Investments Follow-Up Services,
  • Technology Advisory Services,
  • National Offset Company - Obligors' Services,
  • Representation Services.
National Technology Enterprises Company (NTEC) - PicturesNational Technology Enterprises Company (NTEC) - Pictures 2

Contact info #1

Syed Hussain
+965 2 223 0300
+965 2 259 8572
Kuwait Chamber of Commerce & Industry Building, 8th Floor, Kuwait City, State of Kuwait

Technology Investments Follow-Up Services

The technology investments follow-up service is provided to government and private entities that are pure investors and are interested to invest in technology. Within this service NTEC will perform the following:

  • Thorough Due Diligence and technical analysis of the investment deal including, but not limited to, deal source, management team, SWOT analysis of the technology itself along with its risks & mitigations.
  • Complete financial analysis of the deal including, but not limited to, advice on key financial concerns, financial modelling, exit scenarios, identifying financial risks & possible mitigations.
  • Follow-up on the investment, once it’s placed, via quarterly reports indicating the progress of the investment, key developments, financial & management performance, milestones monitoring.
  • Representing the investor in the investee company via presence in the Board of Directors of the company.

Technology Advisory Services

The technology advisory services are provided to entities either interested in investing into technology or are developing technology projects. NTEC, with this set of services, offers its clients the following advantages:

  • Investments; Deal Flow sourcing, domain networks, due diligence services, deal structuring, financial modelling and exit scenarios along with a investment follow-up service.
  • Technology Projects; Advice on the most appropriate type of technology to invest in that would best suit the project with respect to its viability and sustainability. Ability to recommend and supervise project planners and developers.
  • NTEC utilizes its vast expertise and resources obtained through its investments in technology as well as its research tools to position itself as an invaluable source for consulting.

National Offset Program - Obligors' Services

Through NTEC’s relationship and experience with the National Offset Company of Kuwait, NOC, NTEC has identified several services of benefit to international offset program’s obligors assisting them in fulfilling their offset obligations and at the same time enriching Kuwait’s Offset Program. In accordance with the NOC’s guidelines, NTEC is able to offer the following set of services:

  • Partnering Services – Services provided to offset obligors based on the capabilities of NTEC, to be utilized as a 3rd party to co-develop and co-manage an obligor’s technology related project. NTEC is able to localize certain technology projects jointly develop with the obligor and/or the obligor’s selected international project developer and:

a. Produce the necessary business plans and feasibility studies,
b. Acquire commercial licenses,
c.  Secure all essential project components and elements,
d. Process the project through the NOC,
e. In some cases, co-invest with the obligor to deploy the project locally.

  • Obligor Representation Services - Services based on considering NTEC as a 3rd party to obligors wanting to deploy a technology related project in the State of Kuwait but have already completed all of the project’s necessary elements in partnership with an international project developer, processed and approved the project through the NOC, and are ready to deploy the project. NTEC, with this service, is able to represent the obligor’s project’s developer, (as per Kuwait’s commercial and trading regulations which require commercial foreign entities to be represented by a local company), for the obligor to deploy the project independently in Kuwait.

Representation Services

NTEC does not act as a local or regional agent, but offers its position as a technology transfer platform and a technology hub to represent international companies for the local and regional technology projects developers, end users to utilize such technologies or to enter into partnership agreements or joint ventures with the represented technology companies.

For the international companies, primarily NTEC’s investee companies, this service offers opportunities of expansion and introduction into local and regional markets. This service offers them a competitive edge and readymade state-of-art technology solutions addressing their projects’ needs. NTEC continues to play a vital role in these introductions as a facilitator and advisor to both, the international and local/regional parties.


NTEC’s new strategy, of developing local and regional technology projects and leveraging its international technology investments, accommodates both internally and externally developed projects. In both cases these technology projects are not restricted to NTEC’s current investment sectors as they actively search and identify technology projects from all sectors that are to be deployed locally or regionally. NTEC’s experience and vast international network facilitates and eases the development and roll-out of these projects. All of NTEC's investments are made on a long-term basis with a view to realizing a capital gain within a desired time frame.

Internally Developed Projects:
NTEC’s team proactively identifies certain needs or opportunities for developing a specific technology project and accordingly is responsible for developing the concept and business plan into a working business model that is commissioned or partnered with a technology provider, project manager or a strategic investor.

Externally Developed Projects:
NTEC partners with local or regional companies that are developing market demanded technology projects that are in line with NTEC’s technology and regional focus, where NTEC invests in the project’s equity. Preferred partnerships are in the form of Joint Ventures, partnering with technology providers, corporations and entities with added value and proven Concepts.

NTEC is also keen on participating and funding pilot technology projects as well as partnering for regional commercial deployment.


NTEC is very pleased to have had the chance to work with the National Offset Company of Kuwait, NOC, where NTEC has identified several services to benefit the offset program’s international obligors by assisting them in fulfilling their offset obligations and at the same time enriching Kuwait’s Offset Program.


The Global Bridge Initiative, GBI, (Partnering Services) is a result of efforts and work between The Global Commercialization Group (GCG) of IC² Institute at The University of Texas at Austin and the NTEC. The project is focused on technology transfer as a method for sourcing innovation, Kuwait enterprise development, global competitiveness and will serve as the bridge for Kuwaiti entrepreneurs to access sources of innovation and new markets from the U.S. and other global markets.


The overall goal of the initiative is to accelerate the development of Kuwait’s knowledge economy and establish a high tech center that will be the catalyst for both domestic and regional wealth creation. The key to regional prosperity is the strategic combination of technology, entrepreneurship, and education. The proposed program will promote new venture creation and will use technology commercialization and entrepreneurship as the engine for economic growth. Kuwait’s recognition as a high technology innovation center and a Gulf Region business gateway depends on an investment in human and business capital that will provide the necessary infrastructure and talent to entice investment.


GBI utilizes a disciplined, accountable methodology to deliver measurable objectives. These include:


  • Identification of Kuwaiti innovation with global commercial potential.
  • Transfer of U.S. technologies into Kuwait for the formation of new enterprises.
  • Identification of Kuwaiti entrepreneurs to lead new businesses.
  • Training of Kuwaiti entrepreneurs for international business in technology sectors.
  • Establishment of three technology commercialization centers in key sectors: Energy, Biotechnology and Information and Communication Technology (ICT).
  • Connections to international capital and know-how networks.
  • Generation of business agreements between foreign and GCC entities that can lead to future international business and technology transfer agreements.
  • Knowledge transfer of technology commercialization methodologies and entrepreneurship education to local partners. This will bring sustainability to the region beyond the duration of the program.


These objectives will in turn increase opportunities for technology-based businesses to thrive in Kuwait, be competitive in global markets and attract investments.


National Technology Enterprises Company (NTEC)

  • Kuwait Chamber of Commerce & Industry Building, 8th Floor, Kuwait, Kuwait
  • +965 2 223 0300, +965 2 240 6340
  • +965 2 259 8572
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