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SME Development signs MoU with Shell Kuwait to launch Shell Intilaaqah
February 14, 2018, 2:27 pm
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The National Fund for Small and Medium Enterprise (SME) Development and Shell Kuwait recently signed a Memorandum of Understanding (MoU) to launch Shell Intilaaqah, a unique program to support Young Kuwaiti entrepreneurs with starting their own business and turning their ideas into sustainable sources of income in addition to helping to create jobs and stimulate local economic growth in the country. The program will also offer business skills, trainings and workshops as well as connect entrepreneurs with opportunities in sectors that contribute to the local economy. The program will also help facilitate incubation, business acceleration and access to markets, technology and mentoring.

The National Fund for Small and Medium Enterprise Development and Shell Kuwait are excited about launching such an initiative in the country.  Walid Al-Nader, Managing Director & Chairman of Shell Companies in Kuwait, said, “Shell is keen to continue contributing to achieving the Kuwaiti vision of 2035. Shell Intilaaqah helps Kuwaiti entrepreneurs set up businesses, create jobs, generate sources of income for communities by helping to find innovative solutions to support the diversification of the economy.”

Shell Intilaaqah will target the beneficiaries of the National Fund for SME Development and young Kuwaiti entrepreneurs, in alignment with the country’s vision of diversifying the local economy and generating high skilled jobs for future generations.

Abdullah Hamad Al-Jouan, Chairman and President of the National Fund for SME Development said, “We are glad for this collaboration, which will indeed contribute to achieving our goal in fostering a creative productive entrepreneurial environment. Enhancing the skills of Kuwaiti entrepreneurs through the Shell Intilaaqah program is a significant mean to help them explore their true potential and reach beyond their expectations.”

Shell Intilaqaah will enable entrepreneurs to receive professional training and advice from highly skilled trainers and mentors, allowing them to become innovative and more efficient in starting and developing their businesses.

Mishari AlMahmoud, Chief Executive Officer of the National Fund, further explained that this collaboration is one of the organization’s strategic partnerships and continues efforts to support SMEs with international experience and knowledge transfer.

In Kuwait, the Shell Intilaaqah program is expected to commence during February 2018 and is expected to train and develop up to 100 businesses and 100 startups for the year 2018 as part of the program’s initial pilot phase activities.

Shell Intilaaqah is part of Shell's Global LiveWire social investment initiatives, first launched in 1982 in Scotland. Since its founding, it has grown rapidly to include a social network of more than 900,000 members, and has become one of the biggest organizations of its kind to work with young entrepreneurs.

The program has had great success in providing support and advice for young entrepreneurs across eight countries in the Middle East and runs in 16 participating countries globally with more than 35 years’ experience in developing entrepreneurs.

 

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