The National Technology Enterprises Company (NTEC) was established back in November of 2002 and operational in late 2004, by the Kuwait Council of Ministers as a fully owned subsidiary of the Kuwait Investment Authority (KIA). Capitalized at 100 Million Kuwaiti Dinars (Approximately 350 Million U.S. Dollars), with a paid up capital of 85 Million Kuwaiti Dinars. NTEC was created to play a vital role in servicing major stakeholders in Kuwait with their technology needs. The company holds a unique position being fully owned by the Kuwaiti Government, yet enjoys all private sector privileges and operates as such; with its own business license, articles of association, board of directors and capital, NTEC was able to utilize its broad objectives and technology focus being: Information & Communications Technologies, Life Sciences & Healthcare Technologies, Energy, Renewable Energy, Water & Environmental Technologies, to develop distinctive operational and investment strategies to address its core mandate: Technology & Knowledge Transfer.

International Venture Capital, VC, investments are NTEC s Subsidiaries core experience. The focus is pre-commercialization stage companies that are viable and financially attractive with clear exit strategies and a vision to expand into new markets in Kuwait and the region. NTEC s Subsidiaries invest in companies with products or services which solve existing customer problems with ground-breaking technologies and have the potential for above average, substantial growth.Through many years of experience in Venture Capital investments, NTEC s Subsidiaries team has developed a systematic process based on thought selection process, comprehensive due diligence, and an active investment management.

NTEC s Operational Strategy is a mix of activities and services based on its status, internal capabilities, the experience and focus of its fully owned subsidiaries and its clear understanding of the local, regional and international markets. At all times, NTEC and its fully owned subsidiaries strive to complement and not compete with the private sector, as most of the Group s projects requires the partnership, expertise and knowledge of private sector companies whom we consider our Partners in Success .

For the purpose of reducing the time gap of certain demanded technology introduction into mass markets along with building a true technology transfer platform, NTEC s Subsidiariesinvest in the form of Private Equity in technology companies that have the potential of regional expansion, and a proven concept with sustainable business model.