stc Kuwait launches the 2nd intake of ‘inspireU’ entrepreneur accelerator

Press release

Published June 19th, 2024 - 06:01 GMT

Kuwait Telecommunications Company

Kuwait City, June 18, 2024 - Kuwait Telecommunications Company stc, a leader in digital transformation and innovative services in Kuwait, in collaboration with inspireU from stc group, announced the launch of the second batch of the inspireU program to support tech startups, enhancing stc's role as a digital enabler and contributor to the digital economy.

inspireU from stc group was established about 10 years ago, and stc Kuwait has worked closely with the accelerator on a special collaboration within the general program's 10th intake for Kuwaiti tech startups, where the first batch included several leading tech startups.

All ambitious entrepreneurs who have innovative concepts and startups can apply for the “inspireU” program by filling out the application form on www.stc.com.kw. It is worth mentioning that registration for the program is for a specific period only, as seats are limited. This is a key step for applicants to share their Service/Product in a structured approach, where only complete applications will be evaluated according to the program criteria.

Danah Aljasem, General Manager of Corporate Communications at stc Kuwait, said: "We are pleased to collaborate with inspireU from stc group to enable more Kuwaiti tech startups following the success of the first edition. The program aims to equip entrepreneurs with the tools and guidance needed to turn their ideas into successful projects, fostering a culture of innovation and entrepreneurship to create new job opportunities and enhance sustainable growth, in line with stc's vision for digital transformation."

The program includes several tracks, such as fintech with STC Bank, gaming with stc play, cybersecurity with sirar by stc, and IoT with iot squared. The incubated startups will be enrolled in a six-month training program that provides financial support and workspaces in Kuwait and Saudi Arabia, along with guidance, training courses, networking opportunities, and participation in international conferences.

Since its inception, inspireU has enabled over 110 tech startups across various fields and sectors, some of which have become unicorns, creating more than 650,000 jobs in the digital economy and serving over 50 million users with their innovative solutions.
stc is one of the biggest supporters of Kuwaiti tech startups and continues to support initiatives that highlight and empower local entrepreneurs to create added value for the group, contributing to the region's digital economy.

Background Information

Kuwait Telecommunications Company

Kuwait Telecommunications Company (stc) is a Kuwaiti shareholding company incorporated pursuant to Amiri Decree No. 187 on 22 July, 2008, to operate and manage the third GSM mobile network in Kuwait as per Law No. 2 of 2007. Accordingly, stc launched its operations in December 2008 and was listed on Boursa Kuwait in December 2014. It is a world-class digital leader providing innovative services and platforms to customers and enabling the digital transformation in Kuwait, and is a subsidiary of stc Group. stc has rapidly reached a leadership stance in the market through its customer and employee centric strategy.

stc offers an innovative range of world-class products, services and solutions with high quality, that cater to the customers’ needs and demands, both for individuals and enterprises (solutions by stc). In 2019, stc acquired 100% of the share capital of the Internet Service Provider, Qualitynet General Trading and Contracting Company (solutions by stc) in Kuwait.

stc offers high internet speeds due to the implementation of the most advanced 5G network and deployment of the largest network nationwide.