"Stability box" from "sail" It supports more than 60 companies with a value of 5 million dirhams
Sharjah, July 22 / WAM / The Sharjah Entrepreneurship Center “Sheraa” launched the “Al-Thābah Fund for Entrepreneurs”, in an initiative for which five million dirhams were allocated, with the support of strategic partners from the government and private sectors, to provide rapid financial and operational support to emerging, small and medium-sized companies active in the market of the Emirate of Sharjah, along with companies within the center’s portfolio, and to help them overcome the challenges they may face in the various stages of their growth.
The Fund provides non-refundable grants free of charge in the ownership shares of companies, in addition to an integrated program for guidance and consultation and a simplified evaluation mechanism that accelerates financing decision-making. It also connects companies with a network of investors, strategic partners and potential customers and supports their access to new business opportunities and markets, thus enhancing their operational readiness and increasing their ability to expand and grow.
“Sheraa” has so far succeeded in providing support to more than 60 companies through the “Al-Thābah Fund for Entrepreneurs” through financing and supportive programs, out of more than 330 applications it has received from emerging, small and medium-sized companies from all over the country. This demand reflects the expansion of the base of ambitious companies seeking to benefit from specialized financing and support tools to enhance their growth and sustainability within an entrepreneurship system that continues to consolidate its position globally.
Sheraa continues to translate national trends into tangible impact on the ground. Since its founding, it has supported more than 600 startup companies and contributed to enabling their founders to raise more than 1.14 billion dirhams in investments.
Her Excellency Sarah Belhaif Al Nuaimi, Executive Director of the Sharjah Entrepreneurship Center (Sheraa), said that the Stability Fund for Entrepreneurs stems from the center’s vision, which is based on the fact that investing in the continuity of promising companies is an investment in the future of the economy, as enabling companies to overcome challenges and continue growth enhances innovation, advances the wheel of economic activity, and contributes to building a stronger and more competitive entrepreneurial system.
The Fund embodies a model of cooperation between the components of the entrepreneurship system. It was launched in partnership with a number of supporting bodies from the government and private sectors based on the conviction that supporting promising companies is a shared responsibility that requires integration of roles between different institutions.
The Fund is keen to enable emerging companies to build their institutional capabilities by providing guidance and specialized consultations that help them face the challenges of growth, raise their operational efficiency, and enhance their ability to make strategic decisions in the stages of their development. This is a trend that reflects a shift in the role of entrepreneurship ecosystems from focusing on establishing companies to enabling them to withstand, continue, and expand in the long term.
The companies benefiting from the fund reflect new features of entrepreneurship in the UAE. Instead of focusing on rapid growth, these companies are working to develop practical solutions that respond to market needs, starting from reducing food waste and improving children’s nutrition, through developing solutions powered by artificial intelligence, to creating more sustainable consumer products and healthy solutions based on local ingredients.
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