National Technology Enterprises Company

About National Technology Enterprises Company

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), 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.