KUWAIT: Kuwait Foundation for the Advancement of Sciences (KFAS) has announced the selection of five companies from the private sector in Kuwait, chosen in coordination with the London Business School (LBS), for its business program, titled 'Innovation Challenge' - to learn more about finding innovative solutions to problems they face in their respective companies. The names of the selected companies were-Burgan Bank, Gulf Bank, Boubyan Bank, Baitak Capital for Investment and National Investment.

The companies were chosen based on personal interviews and held against competitive standards, to identify candidates who were - passionate to solve challenges, have the ability to lead innovative initiatives to improve services and products in their companies and also stood to gain the most from the experience. Spread over three months, the program will also give the participants, the opportunity to learn from the experience of successful businessmen.

KUWAIT: Participants at the KFAS program.

"The program, which is in its seventh edition, is an executive learning initiative with several stages, which offers academic knowledge in business management through scientific tools adopted and applied by global companies," said the Deputy Manager of Strategic Programs, Dr Khawla Al-Shaiji, adding that she hoped that the program will show a positive reflection of efforts done to develop Kuwait's economy.

Sponsored by KFAS, the program is aimed at encouraging those companies who are keen to develop employee abilities through workshops conducted by experts and academics, held in countries such as the UK which often involves lectures and visits held in London. The program also focuses on improving the work environment with an innovative mindset, encourage the financial sector in Kuwait to become more creative and bring about a culture where priority is given to invest in solutions rooted in science and innovation, thereby creating a foundation for an economy based on scientific knowledge.