Sharjah24: Under the theme "Towards Leadership that Enriches Life," the Sharjah Foundation to Support Pioneering Entrepreneurs (RUWAD)," affiliated with the Sharjah Economic Development Department (SEDD), has published its 2023 Annual Report on its website, www.ruwad.ae. The report highlights the most significant results and achievements in supporting small and medium-sized entrepreneurial projects in Sharjah. It also provides a comprehensive documentation of the projects and initiatives implemented across various cities and regions of the emirate during the past year.
Spanning 157 pages across 12 diverse sections, the report sheds light on the series of efforts and partnership endeavors between the Foundation and other government and private entities in Sharjah and across the UAE. These efforts aim to establish an economic environment that thrives on the activities of Emirati small and medium enterprises (SMEs). The report also features success stories of these businesses, illustrating their journey towards leadership and excellence.
In his foreword, His Excellency Hamad Ali Abdullah Al Mahmoud, Chairman of the Sharjah Economic Development Department (SEDD), emphasised the importance of the entrepreneurship sector in bolstering the comprehensive economic renaissance of the UAE, supporting national production, and diversifying the services and products offered by national projects. He noted the qualitative development witnessed by this sector and the positive transformations recorded in recent years, which have reinforced the UAE's global position as the best place in the world to start and operate new businesses.
Al Mahmoud pointed out that the annual report's results reflect this noticeable transformation, as demonstrated by the Foundation's achievements and services in financing, membership, consulting, training, and business incubation, alongside a wide range of community initiatives. Certainly! Here's a revised version split into two sentences:
"These initiatives align with the goals of promoting a culture of entrepreneurship and connecting it with innovation trends, artificial intelligence, national industry requirements, and sustainable food security goals. All of this is supported by His Highness Sheikh Dr. Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, and closely followed by His Highness Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince, Deputy Ruler of Sharjah, and Chairman of the Executive Council of Sharjah."
He expressed his confidence that the future holds even more achievements and successes, led by our youth through their pioneering ideas and promising leadership potential, to manage inspiring and successful projects that contribute to the development of Sharjah's economy and the continuous improvement of people's lives.
Fatima Al Ali, Acting Director of RUWAD," stated that the economic sector in Sharjah is one of the most attractive entrepreneurial environments in the region, driven by a comprehensive system of incentives, advantages, and facilities available to entrepreneurs. This support enables them to launch and develop their projects, leaving a lasting mark in the market.
Al Ali noted that in 2023, the Foundation disbursed funding totaling AED 3.875 million to 11 member projects. Additionally, 291 projects joined the membership network, with 391 projects renewing their membership. The Foundation also conducted 50 training programs and professional diploma courses, benefiting 1,147 trainees, and provided 99 consultations to project owners to enhance their businesses, address operational needs, and overcome challenges.
She further mentioned that the Foundation's team carried out 176 field visits to member project sites, including 47 visits as part of the project evaluation and classification initiative. Projects also received government fee exemptions totaling AED 7.6 million, secured government contracts worth over AED 2.8 million, and 14 new projects were added to the supplier registry of the Sharjah Central Finance Department. Additionally, 16 projects joined the business centers and the virtual incubator "Masar," 18 deals were concluded under the "Tashbeek" initiative among members, and three memorandums of understanding were signed with strategic partners. The Foundation also conducted numerous visits and development meetings throughout the year with government and private sector institutions, organized five community initiatives, and participated in 15 community events.
Ms. Amina Mohammed, Director of Training, Research, and Events at the Foundation, highlighted that the achievements of "Ruwad" in the areas of partnership and media and community engagement are based on best global practices in these fields. This has effectively contributed to facilitating and accelerating the success, growth, and expansion of startup experiences and small and medium enterprises. The Foundation leverages a range of media activities to support and showcase these projects, enhancing their benefit from social communication opportunities and digital platforms to reach their target audience, alongside conducting precise studies and research in the field of entrepreneurship.
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