Sharjah Update Sharjah business & Investment News from Invest in Sharjah (Sharjah FDI Office)
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To support and encourage entrepreneurship and innovation in the emirate, the Sharjah Investors Services Center (SAEED), an affiliate of the Sharjah FDI Office (Invest in Sharjah), has launched the “Emerging Entrepreneurs” initiative. This forward-thinking programme aims to streamline the process for entrepreneurs and innovators to establish and launch their ventures within Sharjah, offering support for youth projects, promoting economic diversification, and enhancing the emirate’s competitive stance, all while bolstering comprehensive development.
In partnership with the Sharjah Youth Council and the Sharjah SME(Ruwad), the initiative includes facilitating licensing procedures with the SAEED, handling all necessary paperwork, as well as government transactions. At the same time, the Sharjah Youth Council raises awareness among youth through workshops and dedicated programmes to pave the way for startups to enter the market.
Furthermore, Ruwad allows entrepreneurs to benefit from a comprehensive package of support tailored for startups, including financing programs, virtual business incubators for university students, as well as other services, all of which can be explored on the foundation’s website: www.ruwad.ae.
Enhancing Sharjah’s competitiveness
Commenting on the newly launched initiative, Saif Al Suwaidi, the Acting Manager of SAEED, stated, “SAEED was established with the core principle of integrating services to strengthen investor support. Through this initiative, in collaboration with the Sharjah Youth Council and the Ruwad, we are broadening our scope to embrace young entrepreneurs and innovators eager to launch their projects and businesses in the emirate’s vibrant markets. These emerging business leaders benefit from our tailored facilitation packages, encouraging them to leverage Sharjah’s nurturing and dynamic environment for entrepreneurial and innovative ventures.”
Sheikha Issa Al Harmoudi, a member of the Sharjah Youth Council, stressed that the collaboration with SAEED and Ruwad aligns perfectly with the council’s strategic objectives to champion successful investment initiatives among the emirate’s youth to support the local economy, and at the same time overcome obstacles faced by young innovators and entrepreneurs
Al Harmoudi noted that the Sharjah Youth Council is optimistic about the potential of these initiatives in boosting the sustainability of youth-led projects while encouraging them to innovate and propel the comprehensive developmental journey forward. She stressed that the Council is committed to collaborating with all relevant entities to achieve the nation’s goals of empowering youth.
Ms. Fatima Al Ali, Acting Director of Ruwad, stressed the foundation’s commitment to developing and sustaining partnerships with governmental entities to boost the entrepreneurial ecosystem in Sharjah. She emphasised that Ruwad provides a comprehensive range of support services and incentives to entrepreneurs, facilitating the initiation and management of SMEs.
Al Ali highlighted the importance of Ruwad’s collaboration with the Saeed Centre through this initiative, describing it as an innovative platform for empowering youth by easing the process of starting their businesses. She noted that, through this initiative, the Ruwad team directly interacts with entrepreneurs interested in joining the foundation’s membership programme. This engagement enables new members to access a broad spectrum of benefits and support services, already benefiting their network of 1,500 members.
Initial success
‘365 Luxury Watches’, a distinguished local brand, is a prime testament to the initiative’s success. The brand was granted a licence in the first few days of the agreement, enabling the company’s eased expansion from Dubai to Sharjah. This collective effort highlights the initiative’s effectiveness in its early phases, the trust the three entities enjoy and illustrates the dedication of the involved entities to fostering a conducive environment for entrepreneurship, while showcasing their commitment to aiding the development and growth of local enterprises.
Future steps
Launching this initiative heralds a bright future for entrepreneurship in Sharjah, promising to bring together more government and private sectors eventually. It aims to connect startups with vital networks and investors to facilitate their capital needs. This effort is set to enhance the emirate’s entrepreneurial landscape and stimulate local economic development, marking an important step towards enhancing Sharjah as a thriving hub for innovation.
