Gulf Bank supports local entrepreneurs

Bank offers gold sponsor to Fikra Program’s 3rd edition

KUWAIT CITY, Oct 2: Building on its commitment to support Kuwaiti youth and economic development in the country, Gulf Bank announced its gold sponsorship of Fikra Program for the second consecutive year during a press conference on Oct 1, 2017 at Al Hamra Business Tower, Kuwait. Now in its third edition, the program provides aspiring entrepreneurs with the tools they need to start their own business. During the press conference, Fikra Program organizers noted that the website for applying to Fikra Program www.fikraprogram.com is open until Nov 11, 2017.

Ms Esra Al-Habib, Manager for Corporate Communications at Gulf Bank commended Fikra Program saying: “There is an abundance of talent and business potential in Kuwaiti youth and it is inspiring to see business training and incubation programs like Fikra Program being run by talented young Kuwaitis. Gulf Bank is committed to helping the next generation and such is proud to sponsor Fikra Program. We are looking forward to another excellent training program and to successful businesses emerging from Fikra Program.” Ms Mariam Hisham Al Rayes, Fikra Program Manager at Cubical Services Business Incubator stated: “We are passionate about empowering aspiring entrepreneurs with creative business ideas and helping them achieve their dreams and we are proud to have Gulf Bank with us in this life-changing journey.”

Fikra Program also plays a fundamental role in advancing the local Kuwaiti market. It is an intensive entrepreneurship training program that provides aspiring entrepreneurs with the technical skills and business knowledge needed to launch their own businesses such as leadership skills, comprehensive business plan design, mentorship, financial analysis, media exposure, investment opportunities, and others.

The first edition of the program alone resulted in establishing 33 percent of businesses, while 40 percent are still in the negotiation phase with investors. As for the entrepreneurs of Fikra Program — second edition which ended in May 2017, 20 percent are fully operational and the rest are close to operating. Combined the first and second edition of Fikra Program witnessed above 200 applications, 30 business ideas, 37 training sessions and 48 trained entrepreneurs.

Fikra Program is under the kind patronage of HE Khaled Al Roudan, Minister of Commerce & Industry and Acting Minister of State for Youth Affairs and is proudly supported by Ministry of State for Youth Affairs, The National Fund for SME Development, Al Hamra Real Estate Company, Ali Abdulwahab Al Mutawa Commercial Co, Markaz Financial Center, Lexus Kuwait as a part of Al Sayer Group, and Grand Cinemas, and is managed by Cubical Services Business Incubator.

For further details about Gulf Bank initiatives, please visit the Bank’s website: www.e-gulfbank.com or its social media accounts.

Ms Esra Al-Habib, Manager for Corporate Communications at Gulf Bank. Esra Al-Habib — Manager Corporate Communications at Gulf Bank, Khalid AlMutawa — Deputy CEO at Ali Abdulahab Al Mutawa Commercial Company, and Esraa Al Fadala — Head of Knowledge Economy and Investments

at the Ministry of Youth during Fikra’s press conference.