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In the role as a catalyst to develop and strengthen the region's entrepreneurship base. TEC's scopes of operations comprise the following three activities areas.
The TEC Academy will provide the education and training to help make entrepreneurs, engineers and others who are part of Kuwait's venture support systems, successful in developing and leading new ventures. It will accomplish this by providing tailored curriculum, programs and event to properly train aspiring entrepreneurs in the various required disciplines.
Some of the initiatives of the Academy are:
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Offer certified courses, seminars, and networking opportunities to entrepreneurs, aspiring entrepreneurs, and the venture support community throughout the Kuwait. |
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Help shape and improve the climate for innovation and entrepreneurship by launching new programs and policies. |
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Coordinate knowledge transfer and faculty exchange activities in the field of creativity, innovation, and entrepreneurship as well as support research and publication on this important area. |
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Support development of an international network of academies, researchers, entrepreneurs, and practitioners dedicated to the improvement of technological innovation and high-tech entrepreneurship in Kuwait. |
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The TEC incubator will function as the office space for startup companies offering the following three main services to entrepreneurs.
• Space and business infrastructure: Leased office space, including flexible conference acquired quickly and easily without long-term lease commitments. Along with the space comes the supporting technology infrastructure such as phones, faxes, copper network connectivity and server hosting, as well as furniture and technical support.
• Mentoring: Expertise on how to start and grow a company, often accomplished through shared interaction in the common space, involvement of experienced entrepreneurs in residence who have offices in the Incubator, and through access to a network of outside expertise.
• Capital: Can be in the form of cash investment in the startup; subsidize space or services that are cash equivalents, or investment of other resources.
It will act as the venture capital arm of Tec and provide the due diligence and capital investment to any Tec sponsored ventures. It will also source deals and assistant in company building to ensure the success of new ventures and protect its investment the main area of emphasis in which the ventures activity area will carry on are:
• Help the entrepreneurs financially with company building in order to ensure the success of the startup as well as protect their investments.
• Availing NTEC's Investment Network to support TEC's efforts in nurturing incorporating entrepreneurs' projects.
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