In April 2013, the Government has enacted law number 98 of 2013 to establish a National Fund for SME Development (the “SME Fund”). The law is intended to help the country make a major stride in the efforts to support the youth, combat unemployment, and enable the private sector to drive economic growth. As an independent public corporation, with a total capital of KD 2 billion, the SME Fund will finance up to 80 percent of capital for feasible small and medium projects submitted by Kuwaiti nationals. The law defines eligible SMEs as enterprises that employ 1 to 50 Kuwaiti workers, with financing requirements that do not exceed KD 500 thousands.
Build an inclusive, collaborative, and innovative ecosystem for entrepreneurs to lay the foundation for economic opportunities in Kuwait.
Build a world-class institution that leverages the power of entrepreneurs to generate national economic prosperity.
1. Create jobs for Kuwaitis in the private sector
2. Increase SME participation in the economy
3. Help create a business-friendly environment for SMEs