Small enterprises fund graduates first batch of entrepreneurs
KUWAIT: The National Fund for Small and Medium Enterprise Development (NFSMED) held a graduation ceremony for the first batch of Kuwaiti entrepreneurs of the ‘Kauffman Fast Track New Venture’ training program on Thursday at the Kuwait Chamber for Commerce and Industry. The program included 60 entrepreneurs who successfully passed the course, who presented feasibility studies and planning for their projects in addition to other training tasks. They are now in the beginning of a new stage of their projects. Some of them had already launched their projects and they took the program either to expand or to develop them. “More than 40 of these projects have been financed by the fund, and we have a plan to finance more projects,” said the Minister of Commerce and Industry Dr Yousef Al-Ali during the ceremony. The next phase is to help build the state economy and diversify income sources, and the fund plays a key role in future programs. “NFSMED will serve a wide category of the Kuwaiti society to make their dreams come true through establishing their small and medium enterprises. NFSMED has a great role due to the present situation, as it’s responsible for increasing work opportunities for Kuwaitis through their projects and for those who aim to work in these projects. Supporting these enterprises will have different forms. It may be through training courses such as this program, or through providing financial support and consolation,” Ali said.
Dr Mohammed Al-Zuheir, Chairman of NFSMED, noted that this is the first batch of entrepreneurs and the fund is looking forward to graduate more entrepreneurs in the future. He then presented certificates to the 60 entrepreneurs in addition to awarding the instructors of the 21-day training program.
“This program represented one of NFSMED’s goals that aims to qualify entrepreneurs and help them improve their skills in preparing feasibility studies and project ideas in addition to teaching them the proper way of establishing and directing successful companies. This program is special as it provides training, consultation and technical support in addition to financial support for small and medium enterprises,” added Zuheir.
During the ceremony, seven of the participating entrepreneurs displayed presentations providing information about their projects. Some were existing projects that will be developed, while others were plans for upcoming projects.