In synergy with these efforts, the UAE has become a vibrant stage for significant events such as the Sharjah Entrepreneurship Festival (SEF), further cementing its commitment to becoming a global hub for entrepreneurship and innovative startups. The question beckons: How will these events propel the UAE into its desired future as a worldwide hub of entrepreneurial excellence?
The significance of events like SEF, and their role in tracking and fueling these rapid transformations manifests in their function as hubs for forward-thinking discussions and upskilling, driven by the guidance of local, regional, and global industry experts. They provide entrepreneurs with priceless insights, nurturing adaptability and foresight while cultivating essential networking connections and fostering relationships with investors, experts, and potential clients.
Tapping into the international entrepreneurship community
SEF has proven to be a gateway to a world, as the largest entrepreneurship festival in the region, where entrepreneurs can expand their reach and visibility, as well as learn from international industry leaders and those who have paved the way to global success. The growing influence of the entrepreneurship community on world economies, which, according to the Global Entrepreneurship Monitor 2022-2023 report, encompasses about 594 million entrepreneurs, or roughly 10.4% of the adult global population.
Access to venture capital
A Skynova study revealed that 47% of startup failures in 2022 were due to funding shortages. SEF addresses this vital lifeline for any entrepreneurial venture through its commitment to talent discovery and facilitating access to funding sources. This year, the festival has a dedicated “Investors Lounge” to enable these important connections through investee-investor match-making sessions, giving startups an exclusive opportunity to engage with venture capitalists and other investors. These personalised sessions will also offer strategic insights into growth, scaling and strategic financing practices. Furthermore, the festival will also be hosting a Startup Pitch competition, a platform designed to showcase and elevate promising entrepreneurial talents in collaboration with eco-system partners, opening doors to new opportunities and supporting them with guidance and funding towards their pathway to success.
Empowerment through past experiences
The festival plays a critical role in providing knowledge and skill-building opportunities, as venturing into the business realm without a solid foundation, awareness, and analytical skills is akin to navigating in complete darkness. According to the Skynova survey, approximately 58% of entrepreneurs regret not dedicating more time to comprehending market trends and dynamics, and a similar percentage also revealed the lack of robust business plans which greatly hampered their efforts. SEF is firmly addressing these gaps by offering startups and entrepreneurs valuable insights through expert speakers and specialised workshops, equipping them with the tools and information required to produce successful results in their businesses.
Showcasing innovative startups
SEF stands as a distinct platform for emerging businesses to engage with the public and establish credibility and visibility within the market. The festival plays a crucial role in empowering entrepreneurs and providing them with a platform to showcase their innovative ideas, services, and products. The upcoming edition is set to feature over 100 startups in the Startup Pitch competition, creating a unique opportunity for the public and investors to discover and invest in feasible and unique ideas. Additionally, through dedicated startup pods and exhibition areas, emerging and established businesses can showcase their enterprises to thousands of potential customers, form connections and partnerships within their respective industries, and also grab the attention of potential investors.
The importance of values, growth, and development
SEF embodies its vision for entrepreneurship by recognising founders as ‘change-makers’. The festival highlights the transformative power of entrepreneurship in key areas such as sustainability, social development, as well as tech and innovation, which are essential in addressing global challenges and formulating progressive solutions. Through a comprehensive festival agenda and first-hand examples from global thought-leaders, the 2-day event showcases entrepreneurs’ significant impact in uplifting their communities, safeguarding their interests, and bringing societal aspirations to fruition.
This emphasis on value-driven entrepreneurship resonates strongly with the general public. A Razorfish study conducted in 2021 reinforces this, revealing that 82% of consumers prefer to support companies that have strong brands and pursue value-driven goals and visions. Furthermore, 62% of respondents felt that products from such companies enhance their lives and add an extra level of customer satisfaction. SEF aligns with these values by spotlighting entrepreneurs who are not just business savvy but also committed to making a positive difference in the world.
Entrepreneurship as a mindset
The concept of entrepreneurship extends far beyond the confines of markets and businesses; it is a fundamental aspect of life itself, a sentiment echoed unanimously by thinkers and experts. Entrepreneurship is more than a business approach; it's a mindset, a holistic strategy for tackling life's many difficulties and challenges.
SEF aims to foster a comprehensive culture of entrepreneurship. Through curated media materials, the selection of speakers and participants, engaging discussion sessions, and empowering training workshops. It focuses on nurturing entrepreneurs equipped to address development and sustainability challenges. SEF’s goal is to shape individuals who can gauge the impact of their enterprises not just economically but also on the fabric of their communities and countries.”
A world of entrepreneurship in one festival
The Sharjah Entrepreneurship Festival is strategically structured around carefully curated themes, namely, ‘Impact’, ‘Founders’, ‘Community’, and ‘Creativity’. In line with these pillars, the festival will contain five mini-ecosystems, comprising the ‘Startup Town’, ‘Community Zone’, ‘Creative Zone’, ‘Souq Zone’, and ‘Sustainability Zone’ providing a community environment for entrepreneurs to congregate with like-minded individuals, receive target-focused insights from renowned industry heavy-weights, and find their tribe.
Through SEF’s dedicated stages and curated mini-ecosystems, the festival will provide a comprehensive agenda for entrepreneurs from various industries, hosting more than 150 esteemed speakers and over 200 diverse activities this year. These curated activities will facilitate a rich exchange of ideas and experiences while demonstrating the festival’s commitment to nurturing a well-rounded and impactful entrepreneurial culture within Sharjah and the UAE.
Since its inception in 2017, the Sharjah Entrepreneurship Festival, organised by the Sharjah Entrepreneurship Center (Sheraa), has successfully attracted more than 20,000 attendees in its annual editions. These attendees include a diverse group of business owners, startups, individuals interested in entrepreneurship, and those with creative ideas. The festival has also attracted 460 speakers from various fields and specialities. Furthermore, more than 350 companies have been able to showcase their work, with most of them now becoming prominent brands in UAE markets.
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