In a significant move to bolster Kuwait’s startup scene, the National Fund for SME Development has announced a strategic media partnership with Ooredoo Kuwait. The collaboration is designed to provide local entrepreneurs with digital solutions and marketing platforms, signaling a strategic shift beyond traditional financing.
Quick Facts
- Strategic media partnership formed in Kuwait.
- Focus is on digital and marketing support.
- Aims to enhance SME growth and sustainability.
- Led by National Fund and Ooredoo Kuwait.
Beyond Simple Financing
The National Fund is expanding its role from a financial backer to a comprehensive support system for small and medium-sized enterprises. This partnership marks a clear move towards a more integrated framework aimed at empowering businesses throughout their growth journey.
Basma Khaled Al-Jassem, acting Director General of SME Development at the National Fund, emphasized that the organization’s mission goes beyond capital injection. “The Fund operates within an integrated framework that goes beyond financial support,” Al-Jassem stated. “We are focused on continuous engagement, simplifying procedures, strengthening communication with entrepreneurs, and fostering a business environment that ensures sustainability and encourages growth and expansion.”
The collaboration with Ooredoo Kuwait is a direct outcome of this strategy, leveraging the private sector to offer entrepreneurs critical digital tools and media exposure to improve their visibility and operational efficiency.
An Economic Imperative
Both organizations highlighted the critical role of SMEs in strengthening Kuwait’s national economy, particularly amidst regional challenges. Al-Jassem described the initiative as a vital component for ensuring economic resilience.
“In the current climate, marked by exceptional regional challenges, supporting SMEs is no longer merely a developmental choice; it is a national imperative,” she said. “It requires accelerated efforts and innovative, practical solutions to ensure business continuity, safeguard achievements, and strengthen the ability of enterprises to adapt and grow under varying conditions.”
The joint campaign with Ooredoo is positioned as a sophisticated model of public-private collaboration, focusing on practical empowerment through enhanced media presence and advanced digital solutions.
Ooredoo’s Ecosystem Commitment
For Ooredoo Kuwait, the partnership aligns with its corporate strategy and its sense of national responsibility. The telecom giant plans to use its technological expertise to support the growth and sustainability of the SME sector, which it views as a primary driver of innovation and job creation.
Nouf Musaed Al-Mashaan, Executive Director of Strategy and Corporate Affairs at Ooredoo Kuwait, affirmed this commitment. “At Ooredoo, we believe that empowering entrepreneurs is integral to our national duty,” she explained. “We are committed to leveraging our capabilities and expertise in telecommunications and technology to support this vital sector and enhance its sustainability and growth potential.”
Al-Mashaan added that the timing of the partnership is critical, requiring swift implementation to deliver tangible benefits to entrepreneurs navigating a complex economic environment. “We are committed to being a genuine partner in the entrepreneurial journey and to playing an active role in building a more resilient and sustainable national economy,” she concluded.
About The National Fund for SME Development
The National Fund for SME Development is a Kuwaiti public institution established to foster a supportive environment for entrepreneurship. It focuses on helping small and medium enterprises grow and compete by providing financing, training, and integrated support services to combat unemployment and encourage innovation.
About Ooredoo Kuwait
Ooredoo Kuwait is a leading telecommunications company in Kuwait and a member of the international Ooredoo Group. It provides a range of services including mobile, broadband, and corporate managed solutions, with a focus on enriching customers’ digital lives and contributing to the local community.
Source: Zawya
