Sharjah's start-up incubator programme and foreign direct investment office will partner to support start-ups in the UAE and the region by providing greater access to market opportunities and venture capital.
The partnership between Sharjah Entrepreneurship Centre (Sheraa) and Invest in Sharjah will link the high-growth tech start-ups in Sheraa’s community to the emirate’s pool of investors for collaboration in key new and emerging sectors, according to a joint statement on Tuesday.
The partnership will open up access to "a strong and promising investors network, as well as pave the way for start-ups to leverage the benefits of the Sharjah Investors Services Centre (Saeed), which specialises in providing comprehensive and integrated services to businesses and start-ups", Najla Al Midfa, chief executive of Sheraa, said.
Gulf countries are investing into building an entrepreneurship ecosystem in an effort to diversify their economies and fuel post-pandemic growth.
The agreement between Sheraa and the government will also pave the way for a series of strategic moves the two entities will be jointly making to accelerate the UAE’s post-Covid recovery, they said.
In addition, Sheraa will join Invest in Sharjah’s local and international delegations to promote and attract tech start-ups to Sharjah's business ecosystem. Invest in Sharjah will also offer Sheraa start-ups discounted services.
“Our strategic partnership with Sheraa further reinforces Sharjah’s commitment to promoting fruitful partnerships that set the foundation for high-impact ventures and contribute to the growth of our economy," Invest in Sharjah’s chief executive Mohamed Juma Al Musharrkh said. "This collaboration will serve the best interests of entrepreneurs and foster an ecosystem that encourages their growth.”
Sheraa, meaning to sail in Arabic, is Sharjah’s initiative to develop a start-up ecosystem. Its headquarters is at the American University of Sharjah and its hub, launched in September 2018, is based at the University of Sharjah.
Since its inception, Sheraa has supported 114 start-ups that have generated more than $125 million in revenue, raised over $74m in investment and created more than 1,300 jobs.