Najla Al Midfa says Sharjah has positioned itself as an education hub in the UAE. Reem Mohammed / The National
Najla Al Midfa says Sharjah has positioned itself as an education hub in the UAE. Reem Mohammed / The National

Bootcamp for entrepreneurs in Sharjah



Some of the most agile business brains of our time were forged in university. But the campus can also be a crucible for viable entrepreneurial ambitions – just ask Facebook’s Mark Zuckerberg.

With this in mind, Sharjah Entrepreneurship Centre (Sheraa) opened last year and set about drawing from the well at American University of Sharjah.

It has now filtered 10 business start-ups from 100 prospects for its entrepreneurial “boot camp” and recently revealed the results to Sharjah Ruler Dr Sheikh Sultan bin Mohammed Al Qasimi, corporate partners and prospective investors at a “graduation” showcase.

Among them was Egyptian Iraqi Noha Mahdi, who put her master’s in education studies to good use. With so many start-ups realising high-tech dreams, the 28-year-old and college friends sought to inspire children aged nine to 18 away from devices through the Mawada Project, which offers skill development and engagement programmes.

“In the digital world we get a distorted understanding of reality and we become less human,” she says. “We are a social business dedicated to creating community service learning programmes, helping develop essential life skills while giving back.”

That can include assisting others with reading skills, taking meals to the elderly or improving animal welfare.

The Mawada Project was among an inaugural batch identified, incubated and accelerated by Sheraa in its first year.

Launched under the patronage of Sheikha Bodour bint Sultan bin Muhammad Al Qasimi – chairwoman of Sharjah Investment and Development Authority (Shurooq) – Sheraa links campus aspiration to real world commerce via seed funding, office space, subsidised licensing and mentoring for four months.

Another fledgling enterprise finding traction is Yadoh Fat­ima. A home-made food delivery business focused on traditional Emirati dishes, it cites Sharjah Police and Sharjah Health Authority staff as customers.

And with dining a UAE pastime, restaurant-related app Keza is on the radar of foodies and outlets as it “bridges gaps between expectation and reality in the dining out world”, according to its UAE-born Pakistani founder and chief executive Nida Sumar, 29.

The app followed extensive research among diners and restaurants, revealing how both sides aspire to improvement, be that to service or the supply chain.

“We are the only solution that brings diners, restaurants and suppliers together on one platform,” she pitched to potential partners. “When you’re hungry you sign in to Keza, explore restaurants around you, choose your service, eat with your eyes before you order, request the service, pay and split, all on the Keza app.”

With more than 11,000 “tech ready” restaurants in the UAE, she says “the opportunity is huge”.

That’s music to Najla Al Midfa’s ears. The Sheraa general manager hopes to turn students into job creators rather than job seekers.

AUS joins many leading overseas universities hosting an entrepreneurship centre. That includes American University of Cairo, American University of Beirut and New York University Abu Dhabi, with which Sheraa has partnered to exchange knowledge and provide expanding, talent-hungry SMEs with a point of contact.

“Sharjah has positioned itself as an education hub in the UAE,” says Ms Al Midfa. “At University City you have 20,000 students studying across various universities. Most were graduating and trying to look for jobs. A lot were struggling.”

Under Sheraa, some of the 10 selected teams took a final year degree project, commercialised it and turned it into a viable business.

“We looked at the entrepreneurial landscape; a lot of entities in the UAE ecosystem were focused on helping start-ups, already established, to grow. One thing we say is Usain Bolt … someone had to teach him how to walk before he could run.

“Maybe some of these ventures won’t be their final ventures, but we’re confident we’ve created the entrepreneurial talent that’s required.”

Certainly some will be disruptive. Baghdad-born Cartpool founder and chief executive Hameed Al Beiruty, 24 and an international management master’s student with a bachelor’s in web development, was hunting for a cheap hoverboard on a student budget when he envisaged a crowd-powered platform for individuals to bulk buy goods.

Aimed largely at academics or shoppers seeking gaming products and car parts, particularly from abroad, Cartpool has signed five UAE vendors, with 13 pending overseas. The team began working seven months ago and their site went live this week.

They could find synergy with Yalla Pickup. A blend of “Careem for stuff” and Aramex, it connects people needing to move items with approved van owners. Founder Elie El Tom, 39, from Lebanon, had the idea while returning home to Motor City, Dubai.

“It took me one day to move a crate from one place to another,” he recalls.

“I saw these small trucks with big phone numbers. We’re building a smart city and these numbers were bothering me so I thought why don’t I connect people who want to move stuff with people who have trucks.”

Something of a wild card, Mr Tom, was the only non-student but Sheraa liked what his maturity and experience in business development could bring to the mix. Yalla Pickup now has 130 users, 20 businesses registered and has executed 50 trips.

“You order a truck at the click of a button – it will come to your doorstep,” he adds.

business@thenational.ae

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Artist: Coldplay

Label: Parlophone/Atlantic

Number of tracks: 10

Rating: 3/5

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Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
 
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
 
Round 3: February 7-9, Dubai Autodrome – Dubai
 
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
 
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
How to apply for a drone permit
  • Individuals must register on UAE Drone app or website using their UAE Pass
  • Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
  • Upload the training certificate from a centre accredited by the GCAA
  • Submit their request
What are the regulations?
  • Fly it within visual line of sight
  • Never over populated areas
  • Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
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How to protect yourself when air quality drops

Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.

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About Seez

Company name/date started: Seez, set up in September 2015 and the app was released in August 2017  

Founder/CEO name(s): Tarek Kabrit, co-founder and chief executive, and Andrew Kabrit, co-founder and chief operating officer

Based in: Dubai, with operations also in Kuwait, Saudi Arabia and Lebanon 

Sector:  Search engine for car buying, selling and leasing

Size: (employees/revenue): 11; undisclosed

Stage of funding: $1.8 million in seed funding; followed by another $1.5m bridge round - in the process of closing Series A 

Investors: Wamda Capital, B&Y and Phoenician Funds 

COMPANY PROFILE
Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Sector: Sustainability
Total funding: Self funded
Number of employees: 4
The specs: 2018 Honda City

Price, base: From Dh57,000
Engine: 1.5L, in-line four-cylinder
Transmission: Continuously variable transmission
Power: 118hp @ 6,600rpm
Torque: 146Nm @ 4,600rpm
Fuel economy, combined: 5.8L / 100km

Game Changer

Director: Shankar 

Stars: Ram Charan, Kiara Advani, Anjali, S J Suryah, Jayaram

Rating: 2/5

How to wear a kandura

Dos

  • Wear the right fabric for the right season and occasion 
  • Always ask for the dress code if you don’t know
  • Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work 
  • Wear 100 per cent cotton under the kandura as most fabrics are polyester

Don’ts 

  • Wear hamdania for work, always wear a ghutra and agal 
  • Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

A Cat, A Man, and Two Women
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Translated by Paul McCarthy
Daunt Books 

The Vines - In Miracle Land
Two stars

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Company: Bidzi

● Started: 2024

● Founders: Akshay Dosaj and Asif Rashid

● Based: Dubai, UAE

● Industry: M&A

● Funding size: Bootstrapped

● No of employees: Nine

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Starring: Nayanthara, Vignesh Shivan, Radhika Sarathkumar, Nagarjuna Akkineni

Director: Amith Krishnan

Rating: 3.5/5

COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
The specs

Engine: 1.6-litre 4-cyl turbo

Power: 217hp at 5,750rpm

Torque: 300Nm at 1,900rpm

Transmission: eight-speed auto

Price: from Dh130,000

On sale: now

What should do investors do now?

What does the S&P 500's new all-time high mean for the average investor? 

Should I be euphoric?

No. It's fine to be pleased about hearty returns on your investments. But it's not a good idea to tie your emotions closely to the ups and downs of the stock market. You'll get tired fast. This market moment comes on the heels of last year's nosedive. And it's not the first or last time the stock market will make a dramatic move.

So what happened?

It's more about what happened last year. Many of the concerns that triggered that plunge towards the end of last have largely been quelled. The US and China are slowly moving toward a trade agreement. The Federal Reserve has indicated it likely will not raise rates at all in 2019 after seven recent increases. And those changes, along with some strong earnings reports and broader healthy economic indicators, have fueled some optimism in stock markets.

"The panic in the fourth quarter was based mostly on fears," says Brent Schutte, chief investment strategist for Northwestern Mutual Wealth Management Company. "The fundamentals have mostly held up, while the fears have gone away and the fears were based mostly on emotion."

Should I buy? Should I sell?

Maybe. It depends on what your long-term investment plan is. The best advice is usually the same no matter the day — determine your financial goals, make a plan to reach them and stick to it.

"I would encourage (investors) not to overreact to highs, just as I would encourage them not to overreact to the lows of December," Mr Schutte says.

All the same, there are some situations in which you should consider taking action. If you think you can't live through another low like last year, the time to get out is now. If the balance of assets in your portfolio is out of whack thanks to the rise of the stock market, make adjustments. And if you need your money in the next five to 10 years, it shouldn't be in stocks anyhow. But for most people, it's also a good time to just leave things be.

Resist the urge to abandon the diversification of your portfolio, Mr Schutte cautions. It may be tempting to shed other investments that aren't performing as well, such as some international stocks, but diversification is designed to help steady your performance over time.

Will the rally last?

No one knows for sure. But David Bailin, chief investment officer at Citi Private Bank, expects the US market could move up 5 per cent to 7 per cent more over the next nine to 12 months, provided the Fed doesn't raise rates and earnings growth exceeds current expectations. We are in a late cycle market, a period when US equities have historically done very well, but volatility also rises, he says.

"This phase can last six months to several years, but it's important clients remain invested and not try to prematurely position for a contraction of the market," Mr Bailin says. "Doing so would risk missing out on important portfolio returns."

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