"sail" He releases "Stability box" With a value of 5 million dirhams to empower startups in Sharjah

Sharjah, April 25 / WAM / Yesterday, the Sharjah Entrepreneurship Center “Sheraa” launched the “Fortitude Fund for Entrepreneurs”, under the directives of Sheikha Bodour bint Sultan Al Qasimi, Chairperson of the Centre, with the aim of providing rapid financial and operational support to emerging companies and small and medium enterprises active in the emirate’s market, in addition to companies within the “Sheraa” portfolio.

The value of the fund amounts to 5 million dirhams, with support from strategic partners from government and private agencies, to keep pace with the needs of the projects and enhance their impact and ability to continue and grow.

The fund aims to provide targeted support to companies operating in vital sectors related to national resilience, which include manufacturing, food security, health care, and other areas that contribute to the stability of the economy in the long term.

The fund contributes to supporting business continuity and enhancing economic stability in conjunction with the “Proud of the Emirates” campaign by supporting companies and enabling them to continue their work efficiently.

In providing support to active companies in the Emirate of Sharjah, the “Stability Fund” adopts a simplified evaluation mechanism that speeds up the making of financing decisions and ensures their timely arrival. It provides non-refundable grants without royalties in addition to an integrated program that includes guiding companies to reach opportunities that enhance their presence in the market and expand the scope of their business. It focuses on supporting companies that face immediate challenges resulting from external circumstances in a way that enhances their ability to continue and adapt steadily.

The fund is supported by Bee’ah Group, Al Hilal Emerging Enterprises, National Paints, Al Midfa Investments Group, Sharjah Investment and Development Authority (Shurooq), Careem, Ras Al Khaimah National Bank SAOG (RAKBANK), Flourd Now, Sharjah Research, Technology and Innovation Park, Sharjah Radio and Television Authority, Sharjah Roads and Transport Authority, and Sharjah Electricity, Water and Gas Authority. Majid Al Futtaim, Emirates Petroleum PJSC, Publicis Group, Entrepreneur Middle East, Inc. Paymob Arabia.

Sheikha Bodour bint Sultan Al Qasimi, President of the Sharjah Entrepreneurship Center “Sheraa”, said that Sharjah’s vision stems from a firm belief in the importance of building a flexible and renewable economy led by knowledge, innovation and the spirit of entrepreneurship, and that this vision is achieved through systems capable of moving with awareness and precision in moments that require clarity and decisive decisions.

She added: “At Sheraa, we believe that our responsibility is to enable entrepreneurs to continue progressing without losing their momentum and to enhance their ability to deal with changes with confidence and stability in a way that supports the continuity and growth of their businesses. The Stability Fund comes as an extension of this approach by providing practical and targeted support that enhances business continuity, strengthens the system and pushes it towards further development and sustainable growth.”

For his part, His Excellency Abdullah bin Touq Al Marri, Minister of Economy and Tourism, said that the UAE, thanks to the directives of its wise leadership, continues its efforts to develop the entrepreneurship and small and medium enterprises sector, enhance its competitiveness and support its continuity in different circumstances, as it is a main pillar for the growth of the national economy and accelerating the transition towards a more flexible and sustainable economic model.

He added that the launch of the “Stability Fund” represents a new initiative within a series of initiatives launched by the Emirate of Sharjah to support this vital sector, which reflects its commitment to empowering entrepreneurs and owners of emerging companies, protecting small and medium enterprises and increasing their flexibility, especially in light of the current circumstances and changes, which contributes to developing the efficiency of the national entrepreneurship environment and raises its ability to continue economic activity with high efficiency and competitiveness, and consolidates the UAE’s position as an attractive global destination for emerging companies and pioneering projects at the regional and international levels.

In turn, Her Excellency Najla Al Midfa, Vice President of the Sharjah Entrepreneurship Center “Sheraa”, said that startups and small and medium enterprises constitute an essential pillar of economic flexibility. It contributes to the continuity of jobs, supports supply chains, and continues their work and expansion even in the most challenging circumstances, noting that the entrepreneur’s ability to move forward is linked to the readiness of the surrounding environment to respond in a timely manner, especially since challenging periods do not stop the process of building a business and do not tolerate hesitation.

She added that the Stability Fund for Entrepreneurs embodies Sheraa’s vision that the value of the system appears precisely at these moments by providing clear and appropriate practical support that enables entrepreneurs to continue with confidence and ensures that the challenges of the present do not limit the potential that the future holds for the economy.

In addition to financial support, the selected companies will receive customized programs that include individual counseling sessions, workshops, mentorship hours, as well as business networking opportunities. Participants will also benefit from resources and partnerships provided by supporting agencies, in addition to software solutions that enhance their operational readiness and support their ability to continue with confidence, while providing opportunities to enhance their presence in the market.

Since its establishment, the Sharjah Entrepreneurship Center “Sheraa” has continued to play a pivotal role in supporting the growth of startups and small and medium enterprises through its programs, initiatives and partnerships within the system, and the launch of the “Stability Fund” comes as an extension of this role, which enhances support for existing companies and enables them to adapt to changes and continue building and progressing in the long term.

The Fund provides partners and stakeholders from the government and private sectors the opportunity to contribute, reflecting a shared commitment to supporting startups and small and medium-sized enterprises that are able to continue and enhance the flexibility of the entrepreneurship system in Sharjah.

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