Under the guidance of Sheikha Bodour bint Sultan Al Qasimi, the Chairperson of the Sharjah Entrepreneurship Center (Shorak), a new initiative called the “Stability Fund for Entrepreneurs” was launched yesterday, aimed at providing prompt financial and operational support to startups and small to medium-sized enterprises (SMEs) operating in the Emirate of Sharjah, including those within the Shorak portfolio.
The fund is valued at 5 million dirhams, supported by strategic partners from both the government and private sectors, enhancing the ability of companies to adapt and thrive amidst changing economic conditions.
This initiative focuses on assisting businesses in vital sectors linked to national resilience, such as manufacturing, food security, healthcare, and other areas that contribute to long-term economic stability.
The launch of the fund coincides with the “Proud of the UAE” campaign, part of efforts to ensure business continuity and promote economic stability, empowering companies to operate efficiently despite challenges.
The “Stability Fund” utilizes a simplified evaluation mechanism to expedite funding decisions, ensuring timely support delivery. It offers non-repayable grants without equity stakes, alongside a comprehensive program that includes mentorship, guidance, and connections to expansion opportunities that enhance market presence.
Sheikha Bodour bint Sultan Al Qasimi stated, “Sharjah’s vision stems from a deep-seated belief in the importance of developing a resilient and innovative economy driven by knowledge and entrepreneurship. This vision is realized through systems capable of acting with awareness and precision in moments that require clarity and decisive action. At Shorak, we believe it is our responsibility to empower entrepreneurs to maintain their momentum and enhance their ability to navigate changes with confidence, which supports the continuity and growth of their businesses. The ‘Stability Fund’ is an extension of this approach, providing targeted practical support to enhance business sustainability and strengthen the ecosystem, propelling it towards further development and sustainable growth.”
Moreover, Abdullah bin Touq Al Marri, Minister of Economy and Tourism, remarked, “The UAE continues, under the wise leadership’s guidance, its efforts to develop the entrepreneurship and SME sector, enhancing its competitiveness and ensuring its sustainability in various circumstances, as it is a key pillar of national economic growth and an accelerated shift towards a more flexible and sustainable economic model.
In this context, the launch of the ‘Stability Fund’ represents a new initiative in a series of efforts launched by the Emirate of Sharjah to support this vital sector, reflecting its commitment to empowering entrepreneurs and protecting SMEs by increasing their resilience, particularly given current conditions. This contributes to enhancing the efficiency of the national entrepreneurship environment and elevates its ability to conduct economic activity efficiently and competitively, solidifying the UAE’s position as an attractive global destination for startups and entrepreneurial projects at both regional and international levels.
Najla Al Midfa, Vice President of the Sharjah Entrepreneurship Center, emphasized that startups are a crucial pillar for economic resilience, noting that the fund provides swift practical support that enables entrepreneurs to overcome challenges and continue confidently without being hindered by current circumstances from achieving growth.
In addition to financial backing, the fund offers specialized programs including individual consulting sessions, workshops, and advisory hours, as well as opportunities for business networking and capitalizing on strategic partnerships and technological solutions that enhance operational efficiency.
The launch of the “Stability Fund” underscores Shorak’s ongoing role in supporting the growth of startups, increasing their capacity to adapt to changes, and contributing to the development of a more resilient and sustainable entrepreneurial ecosystem in the Emirate of Sharjah.