ShareKUWAIT: The Embassy of India in Kuwait hosted the “India-Kuwait Startup Synergies” conference on Sunday, in collaboration with the Gulf University for Science & Technology (GUST) and the ICAI Kuwait Chapter, which aims to explore the dynamic startup ecosystems. In his remarks, Indian Ambassador to Kuwait Dr Adarsh Swaika emphasized that the event serves as a platform to strengthen collaboration and explore opportunities between the two countries, with India’s dynamic entrepreneurial scene and Kuwait’s strategic position as a hub for innovation. “Through such conferences, we’ve made strides in familiarizing our Kuwaiti partners with India’s dynamic economy. Today, India is the world’s fifth largest economy, set to become the third largest soon, powered by its young and vibrant population,” he added.
He indicated that economic cooperation has historically been the foundation of India-Kuwait relations, explaining: “In fact, trade relations date back to the 18th and 19th centuries, when Kuwaiti merchants traveled to India with goods and returned with Indian products to distribute across the region. Commerce built our connection. Notably, the Indian rupee was Kuwait’s legal tender for over a century.”
The Indian Ambassador emphasized the transformative potential of India’s startup ecosystem, which is home to over 150,000 registered startups, collectively contributing around 15 percent to India’s GDP. “Similarly, Kuwait’s startup ecosystem is growing rapidly. Programs such as the national fund for SMEs, which has invested $350 million in over 800 startups since 2014, along with incubators like Brilliant Lab and Coded, provide entrepreneurs with mentorship and resources to succeed,” he said.
The ambassador concluded that the event is a platform to activate collaboration among startup stakeholders in both countries and explore opportunities for partnerships. “We hope to see tangible outcomes, from new startups to funding and innovation. This is just the beginning,” he said.
Abdul Wahab Al-Zaidan, Consultant for the Kuwait Digital Startup Campus project at the Youth Public Authority in Kuwait, stated: “Kuwait came into the spotlight with the success of startup projects that gained prominence in the region. However, Kuwait’s entrepreneurial spirit goes way beyond these recent successes. Historically, the entrepreneurial mindset was reflected in the trips Kuwaitis made to India, which formed part of their trade and business endeavors. It is deeply rooted in Kuwait’s DNA.”
He pointed out that the Youth Public Authority has a mandate to support young people in Kuwait in various ways, recognizing that 60–70 percent of the population is under 35 years old. “One of the gaps we’ve identified in the region, and particularly in Kuwait, is the need to empower tech startups. Our focus has been on identifying the best ways to address this gap and on creating initiatives that help tech entrepreneurs scale their businesses and leverage international expertise,” he said.
He continued that one of the gaps they aimed to address was the lack of knowledge and scalability for Kuwaiti startups. To address this, the Kuwaiti government, in partnership with Boeing, established the Kuwait Digital Startup Campus (KDSC), a comprehensive initiative designed to bolster Kuwait’s entrepreneurial ecosystem. Al-Zaidan highlighted KDSC’s focus on global collaboration, especially with India, using its technological expertise to support Kuwaiti startups entering the South Asian market, while providing Indian entrepreneurs access to the region.
Chairperson of the ICAI Kuwait Chapter Aditya Vikram Dhanuka said that this conference is a significant milestone in strengthening the relationship between India and Kuwait, particularly in the realms of startups and innovation, adding that India, with its dynamic and vibrant entrepreneurial ecosystem, offers immense opportunities for startups to flourish, while Kuwait presents a thriving market for startups to expand and grow.
“This event serves as a vital platform for exploring the synergies between the two countries, particularly in the fields of technology, finance, and business development. The ICAI Kuwait Chapter has been actively contributing to the growth and development of both the Indian and Kuwaiti economies. With over 500 chapter members based in Kuwait, our members occupy key leadership positions across banking, financial institutions, private sectors, and more,” he said.
He expressed hope that the conference would unlock new opportunities for startups. “India offers startups access to a large and diverse customer base, a supportive government ecosystem, and a growing network of investors. On the other hand, Kuwait provides a strategic location, access to funding, and a rapidly growing entrepreneurial community, creating the ideal environment for cross-border collaborations,” he said.
