Eman Darwish Al-Hayas, the director of the Saud bin Saqr Foundation for the Development of Youth Projects, announced that the organization is preparing to launch the second phase of the “Ras Al Khaimah Creativity Initiative” in the near future. This follows the completion of the regulatory frameworks that define objectives, target sectors, and the prize value, all aimed at enhancing the initiative’s role in attracting innovative projects and supporting high-quality ideas.
She noted that the first phase achieved notable success, with citizen Mira Mohammed Ibrahim taking first place and winning a total of 2 million dirhams for her project “Mirana Patisserie,” which garnered unanimous approval from the jury due to its remarkable concept and quality execution. The initiative attracted significant interest, receiving 635 applicants who underwent a thorough evaluation process, resulting in 65 projects meeting the criteria before 9 projects advanced to the final stage. These projects were assessed based on professional indicators, including innovation, commercial viability, and scalability.
Empowering Entrepreneurs
Al-Hayas emphasized that the foundation is focused on empowering entrepreneurs across five strategic priority sectors: industry, health, agriculture, advanced technology, and education, aligning with the country’s goals to build a diverse, knowledge-based economy. She pointed out that the foundation offers a comprehensive support system led by a team of experts, starting from idea development and feasibility studies to training and project establishment, ensuring sustainability.
Furthermore, she mentioned that the foundation creates a complete business environment through incubators equipped with modern services, including technical infrastructure, meeting rooms, and diverse workspaces. This setup provides entrepreneurs with a practical platform to launch their businesses, fostering networking among project owners, sharing experiences, and developing effective partnerships, while also lowering operational costs during the initial stages.
Comprehensive Package
The foundation offers a holistic range of services covering the project’s lifecycle, beginning with specialized training and preparation, streamlining procedures and licensing, and extending to marketing channels and participation in exhibitions, as well as connecting projects with government entities. Additionally, it supports expansion by allocating land for qualified projects, further enhancing growth and sustainability opportunities.
Al-Hayas asserted that a lack of innovation turns projects into repetitive models incapable of competing, stressing that true market distinction is achieved through offering unique ideas that add tangible value. She cautioned against merely imitating successful examples without further development, as this approach may weaken sustainability prospects and could lead to a project’s “graveyard” if innovation is absent. The success of any project relies on its ability to deliver a fresh proposition tailored to local specifics and audience needs, thereby boosting its presence and ensuring a sustained competitive edge.
She highlighted the success of the fifth edition of the “Restaurant Village” festival, held at Manar Mall, where participating projects saw revenues increase by over 300%. This reflects the effectiveness of the foundation’s initiatives in supporting national projects and enhancing their competitiveness. The event attracted more than 459,000 visitors, marking a 23% growth compared to the previous edition, with 47 projects in the hospitality sector participating.