National Technology Enterprises Company

Established in 2002, National Technology Enterprises Company (NTEC) is a fully owned subsidiary of the Kuwait Investment Authority (KIA), the sovereign wealth fund of Kuwait. NTEC was created to play a vital role in servicing major stakeholders in Kuwait and the Middle East region with their technology requirements. Capitalized at 100 million Kuwaiti Dinars (approximately $350 million USD), NTEC operates as a technology projects development company, utilizing investment tools such as private equity, venture capital, and direct investments to initiate and stimulate technology projects in Kuwait and the local region.

NTEC's investment focus spans several sectors, including information and communications technology, life sciences, energy, renewable energy, water and environmental technologies, healthcare, education, construction, retail, fashion, health and beauty products, real estate, agriculture, food and beverage, consumer electronics, toys and games, books, beauty products, groceries, and e-commerce. The company targets various stages of investment, from seed and early-stage ventures to growth and late-stage opportunities. NTEC's geographical focus includes Kuwait and extends to other countries in the Middle East, as well as international markets such as the United States, United Kingdom, Germany, France, China, India, Japan, South Korea, Singapore, and Malaysia.

NTEC's subsidiaries include Kuwait Life Sciences Company (KLSC), EnerTech Holding Company, National Advisory Services Company (NASCO), and the National Leadership Institute (NLI). These subsidiaries operate in sectors such as healthcare, energy, education, and training, contributing to NTEC's mission of technology and knowledge transfer. NTEC's investment philosophy emphasizes complementing and not competing with the private sector, aiming to reduce the time gap in introducing demanded technology into mass markets and building a true technology transfer platform. The company's paid-up capital is 85 million Kuwaiti Dinars (approximately $280 million USD).