top of page
Pre-feasibility Assessment of the Kuwait Innovation Center

Since 1980, oil has provided Kuwait with wealth and prosperity. Slowing oil demand threatens the sustainability of the current economic and social model, highlighting the need to transition to a knowledge-based society, where value creation, the resolution of societal challenges, and the well-being of society as a whole will be based on the production, dissemination, and implementation of knowledge and technology. As part of a national strategy to revolutionize the state of technology in Kuwait, TIV was asked by Arthur D. Little (ADL), a global preeminent consulting firm, to support a Pre-feasibility Assessment towards developing a “Kuwait Innovation Center.”

The Pre-feasibility Assessment described multiple facets of the current Kuwaiti innovation system and what the design of an Innovation Center would entail. It ultimately delineated the benefits such a hub for research, entrepreneurship, and invention could produce. As laid out by ADL and TIV, the goal for the Kuwait Innovation Center (KIC) would be to construct a one-stop shop that would serve mainly as a triage for innovative ideas and direct the development of potential startups at any stage of the company lifecycle.

TIV leveraged its venture capital investing and entrepreneurship expertise to establish a framework for startups, from the critical first steps that must be taken in their nascency towards a path of profitability and potential initial public offering (IPO). The team also established the basis for cultivating a national innovation strategy, proposing the development of a National Science, Innovation, and Technology body. Critical success factors in benchmarking were identified to support these initiatives, including mechanisms to attract foreign talent to kick-start the local startup scene, insulation of innovation support activities from public sector bureaucracy and policymaking, and collaboration with corporate partners and entrepreneurs' future KIC alumni. 

bottom of page