Sharjah has all the makings of a startup hub

dubai - Sharjah Entrepreneurship Centre provides a foundation to build sustainable businesses

Entrepreneurship is essential towards building a strong, diverse economy and the UAE, with Sharjah in particular, has what it takes to become the engine of the region's entrepreneurship ecosystem, said Najla Al Midfa, chief executive officer of the Sharjah Entrepreneurship Centre (Sheraa).

His Highness Dr Sheikh Sultan bin Mohammed Al Qasimi, Member of the Supreme Council and Ruler of Sharjah, has envisioned Sharjah as a centre for education which is home to an ocean of young, innovative and talented youth.

"Sheraa aims to cultivate this pipeline of future changemakers by fostering a culture of experimentation and critical thought. We also engage with others in the entrepreneurship community, both locally and abroad, to build a strong and globally connected ecosystem, and to position Sharjah as a vibrant startup hub. These partnerships have helped us grow and scale our impact," said Al Midfa.

"Our programmes are tailored to every stage of the entrepreneurial journey, from ideation to growth, providing the support necessary to turn ideas into reality and creating a solid foundation on which sustainable businesses and thriving careers can be built. We are proud to have helped validate over 300 ideas and graduated over 70 startups from our various programmes since our launch in 2016."

Support for youth
Youth in the UAE are faced with the challenges of a changing job market, the need to learn 21st century skills and the lack of appropriate career guidance. There are talented, passionate individuals who want to make an impact but are unsure how, pointed out Midfa.

"However, despite the growing trend towards entrepreneurship, many remain reluctant to consider it, mainly due to the stigma still attached to failure. It is, therefore, vital to cultivate an entrepreneurial mindset: critical thinking, problem-solving skills and the willingness to fail," added Al Midfa.

"We have repeatedly found that the youth who come to us do not have the skills necessary to jump into the startup ecosystem right away. Our early stage programmes are designed to address this gap, teaching skills such as product management, finance management, fundraising and more."

Women empowerment
Women have always played a crucial role in business and their active participation in the entrepreneurial ecosystem is rising, particularly among Emirati women, given the support from the UAE government. However, further lowering the barriers women face as entrepreneurs would serve to enhance their role in the economy. This can be done through increased access to funding, skilling and upskilling programmes that teach women what they need to know about running a successful business and build their confidence, and easing their entry into "non-traditionally female" fields such as the arts, fintech, Artifical Intelligence or logistics, explained Al Midfa.

In line with the UAE's message of female empowerment, Sheraa actively encourages women towards entrepreneurship. Around 40 per cent of the startups that have gone through their programmes have been female-led.

"We also believe that showcasing these success stories is one of the best ways to inspire a new generation of female entrepreneurs, which is why we highlight Sheraa graduates such as Sekka - an Emirati women-led startup dedicated to documenting and preserving the Gulf's modern history - or Mama's Box, which is a monthly subscription box of items tailored to a woman's pregnancy stage or her baby's age and development stage," added Al Midfa.

Sheraa has validated over 35 ideas and graduated over 35 startups from its various programmes in 2018.

"Our Idea Lab of the year is kicking off this month and applications for our Series A programme opens mid-December. Early in September, Sheraa opened its second location at the University of Sharjah," said Al Midfa.

Sheraa also hosted the second Sharjah Entrepreneurship Festival (SharjahEF) in November, rounding out the year by bringing the ecosystem together for 2 days of networking, community-building and knowledge sharing.

SharjahEF 2018 brought together over 100 local and international speakers, including Gary Vaynerchuk, Vishen Lakhiani, founder and CEO of Mindvalley, and Mohammed Alabbar, chairman of Emaar Properties and founder of Noon.com.

"We had over 2,000 attendees registered for the event and another nearly 70 startups exhibiting at Startup Town. This year, SharjahEF also featured a Youth District, inspiring would-be entrepreneurs and teaching them the power of entrepreneurship. We held the second annual Seffy Awards where one innovative startup walked away with the Dh100,000 prize at our pitch competition. The festival also saw the graduation of our first seed programme cohort," said Al Midfa.

For 2019, Sheraa aims to perfect its programmes, which run throughout the year, and expand its network of partnerships to better serve entrepreneurs and the ecosystem at large.

"We also intend to hold an even bigger and better Sharjah Entrepreneurship Festival 2019. At Sheraa, we are not satisfied with simply creating local entrepreneurs. We want our entrepreneurs to have the confidence to build a startup that can be globally competitive. And for that, global connections are key, which is why Sheraa continues to collaborate with international programmes and entrepreneurship hubs. Next year, we intend to strengthen and expand this global network," concluded Al Midfa.

- sandhya@khaleejtimes.com