Business

Sheraa launches report on Sharjah’s impact-driven entrepreneurship ecosystem


Last updated on June 8, 2021 at 06.42 pm
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The Sharjah Entrepreneurship Centre (Sheraa) recently hosted a visit by Dr. Ahmad Belhoul Al Falasi, Minister of State for Entrepreneurship and Small and Medium Enterprises, to explore Sharjah’s growing startup ecosystem.

The event highlighted Sheraa’s founder-focused approach to ecosystem building, as well as opportunities to connect with some of the UAE’s top startups supported by Sheraa. Dr. Ahmad Belhoul Al Falasi engaged with 40 of Sheraa’s portfolio startups in an open roundtable discussion on the challenges and opportunities for early and growth stage companies in the UAE, tackling pressing topics such as financing and funding gaps, corporate and public partnerships, and founder-friendly policies and regulations.

The visit also provided startups with a unique opportunity to present their vision to the minister and showcase their entrepreneurial journeys and contributions in transforming the UAE. The five startups included Almentor.net, an Arabic e-learning platform; Rise, a wealth management app and platform for migrants; Joi Gifts, an e-commerce gifting platform; Mughamer.com, the newly launched Sharjah-incubated adventure and tourist activities booking website; and The Concept, a startup that specializes in creating eco-friendly hardware and technology solutions for clients.

During the visit, Sheraa’s CEO Najla Al Midfa presented the center’s five-year impact report titled ‘The Rise of an Ecosystem: 5 Years of Creating Impact 2016-2020’, which detailed how Sheraa’s founder-first philosophy drove Sharjah’s transformation into an entrepreneur-friendly and impact-driven entrepreneurship ecosystem.

The report offers insights into Sheraa’s emergence as a key pillar of the UAE’s ecosystem where it has impacted a community of over 17,000 changemakers across sectors, placing Sharjah strongly on the global startup map. By empowering founders to develop globally competitive, sustainable companies in priority market sectors, Sheraa has been fueling Sharjah’s long-term strategy of driving impact and achieving high economic growth through inclusive policies designed to transform communities.

The 114 startups supported by Sheraa during the past five years have created over 1,300 jobs, and have registered a 65 per cent survival rate. Notably, 48 per cent of Sheraa-supported startups are led by females, driving the emirate’s efforts at economic diversification.

“The Ministry of Economy and our partners are keen to constantly and actively engage with entrepreneurs and SME-owners in the country to find effective solutions to the challenges that businesses face in the post-Covid phase,” said Dr. Ahmad Belhoul Al Falasi. “By working together, we will be able to better capitalize on emerging opportunities; better utilize local funds in supporting entrepreneurs, make their voices heard, and collaborate on development and support programs at the local and federal levels.”

Dr. Ahmad Belhoul Al Falasi’s visit comes as part of the Ministry’s efforts to reinforce, develop and grow UAE’s global positioning as one of the top-ranking startup destinations in the world through collaboration with leading startup ecosystem builders such as Sheraa.

Najla Al Midfa, CEO of Sheraa, said: “It was an honour to convene Sheraa’s vibrant community of impact-focused entrepreneurs to engage in an open conversation with Dr. Ahmad Belhoul Al Falasi on the UAE’s startup ecosystem. Roundtable discussions like these exemplify Sheraa's founder-first philosophy, and the strong achievements highlighted in our five-year impact report are a testament to what is possible when this ethos is encoded into an ecosystem's DNA.”

She added: “Under the visionary leadership of His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, Member of the Supreme Council and Ruler of Sharjah, Sheraa reiterates its commitment to establishing Sharjah as an inclusive, entrepreneur-friendly city. This commitment is in line with the UAE's ambition to cement its position as a leading destination for entrepreneurs around the world.”

rohma@khaleejtimes.com

Rohma Sadaqat I am a reporter and sub-editor on the Business desk at Khaleej Times. I mainly cover and write articles on the UAE's retail, hospitality, travel, and tourism sectors.Originally from Lahore, I have been living in the UAE for more than 20 years. I graduated with a BA in Mass Communication, with a concentration in Journalism, and a double minor in History and International Studies from the American University of Sharjah.If you see me out and about on assignment in Dubai, feel free to stop me, say hello, and we can chat about the latest kitten videos on YouTube.