This is an edited crosspost from Nuwait.
Each entrepreneurship ecosystem has its own story to tell, but failures, success stories, role models, financial support and mentorship remain common links bewteen each.
Kuwait’s ecosystem is smaller than in neighboring countries in the GCC, but many startup activities are taking place.
“The changes will start to be observed on the ground in Kuwait,” said World Bank senior private development specialist Ali AbuKumail (below, image via Nuwait). “[We will see a] more relaxed legal environment. I would see much more vibe around the entrepreneurship development; I would see more tendencies from the government to support diversification and also private sector contribution to the economy.”
While many entrepreneurs have complained about the challenges of setting up companies in Kuwait, finding a talented team and getting funded, AbuKumail still advises young people to consider entrepreneurship and ask for help from those who have succeeded.
In the video above, watch him discuss Kuwait’s potential future and the mistakes entrepreneurs should avoid when starting up.