Data and enterprise intelligence are rising as invaluable assets, and firms that shift their technique to include rising traits are sometimes in a position to pivot into profitable ventures
Sharjah has continued to evolve as a world vacation spot for entrepreneurs, with the emirate’s startup ecosystem and enterprise pleasant insurance policies promising a powerful basis for anybody with an concept, consultants highlighted on the 2021 Sheraa Ramadan Majlis.
Held in partnership with Alef Group on the Sharjah Research, Technology and Innovation Park (SRTIP), the Sheraa Ramadan Majlis introduced collectively senior authorities officers and entrepreneurs from Sharjah, and the UAE, to debate how agile and adaptive measures are elevating the emirate’s attraction as one of many main SME hubs within the area. Investors and entrepreneurs representing a large spectrum of enterprise sectors additionally showcased their success tales on the 2021 Sheraa Ramadan Majlis, detailing their experiences of establishing companies in Sharjah and throughout the UAE, and suggesting methods to additional develop the startup ecosystem within the emirate.
Most of the discussions on the occasion revolved across the Covid-19 pandemic, and the way it impacted the SME panorama within the nation. Speaking on the occasion, Najla Al Midfa, CEO of Sharjah Entrepreneurship Center (Sheraa), famous that even when the Covid-19 pandemic posted a menace to the worldwide entrepreneurial panorama, SMEs throughout the UAE confirmed their resilience, and proved to be a key issue within the nation’s restoration from the pandemic.
“We were among the first in the ecosystem to provide financial aid to startups, launching a $1 million solidarity fund to support founders whose businesses were adversely affected by the pandemic,” she stated. “This fund also enabled founders from across the region to develop various products and solutions in critical sectors such as healthcare.”
She additionally highlighted how Sheraa, which is celebrating its fifth anniversary of operations, has advanced to wants of entrepreneurs as we speak. During its five-year journey, Sheraa has set a precedent in constructing a world-class, founder-centric and inclusive ecosystem of founders, who’ve collectively generated a sizeable Dh477 million in income and raised investments value Dh320 million.
Najla Al Midfa additionally spoke about Sharjah’s invaluable contribution to SME group, highlighting how the emirate’s pro-entrepreneurship angle has turned it into a house for innovation and affect. “Since 2016, Sheraa has inspired a community of over 17,000 changemakers and has graduated 114 startups. These startups have contributed significantly across sectors and created over 1,300 jobs. I am also very proud to say that of the total startups that graduated from Sheraa, 48 per cent were women-led.”
Another key matter that was mentioned on the occasion revolved round firms strengthening their ‘digital first’ strategy and investments in applied sciences akin to synthetic intelligence (AI), information, and blockchain. Many consultants stated that keenness, mixed with innovation, and a eager deal with applied sciences which are set to remodel the enterprise panorama are what can be wanted for future successes.
“Data is the future,” stated Marwan bin Jassim Al Sarkal, Executive Chairman of the Sharjah Investment and Development Authority (Shurooq). “It is great to see how diverse Sharjah’s startup ecosystem is, and how many different nationalities from around the world are bringing their innovative ideas to the emirate. Our role is to support everyone as they excel from one level to another by providing opportunities and guidance. My advice right now is to look at data, and to look at industries that the whole world is talking about. Think about investing in artificial intelligence, data management, drones, machine learning, and robotics.”
Hussain Al Mahmoudi, CEO of the Sharjah Research, Technology and Innovation Park, famous that the SRTIP’s partnership and collaboration with Sheraa falls in-line with its technique to supporting start-ups in Sharjah, particularly when the emirate is ranked among the many world’s high-growth startup ecosystems in keeping with the Global Startup Ecosystem.
“Sharjah is also a pioneering global hub for startups seeking unique innovation, research and entrepreneurial success, thanks to its approach in sustaining a knowledge-based economy that encourages and inspires an innovative business ecosystem, as well as the continued development of its scientific and applied research sector. These efforts have strongly contributed in bolstering Sharjah’s position as a regional hub for entrepreneurship and innovative start-ups, and reinforces its competitiveness globally,” he stated.