The Sharjah Entrepreneurship Center (Sheraa) has launched the 'Thabat Fund for Entrepreneurs' with a value of AED 5 million, under the directives of Sheikha Bodour bint Sultan Al Qasimi. This fund aims to support startups and small and medium-sized enterprises (SMEs) operating in the emirate, as well as companies within Sheraa's portfolio.
The fund aims to provide quick financial and operational support, meeting companies' needs and enhancing their ability to sustain and grow amidst economic changes that demand flexible and rapidly responsive tools.
The 'Thabat Fund' focuses on supporting companies in vital sectors linked to economic resilience, including manufacturing, food security, and healthcare. This contributes to long-term economic stability, aligning with the 'Proudly from UAE' campaign which promotes business continuity.
The fund employs a simplified evaluation mechanism to speed up funding decisions, offering non-refundable grants without equity, alongside a comprehensive program that includes consultation sessions, workshops, mentorship hours, and opportunities for business networking and expansion.
The fund also provides participants with access to resources and partnerships from supporting entities, including software solutions that enhance operational readiness and support business continuity, while also creating opportunities to boost their market presence.
The fund is supported by several government and private entities, including Bee'ah Group, Crescent Enterprises, National Paints, Al Madfa Investments Group, Sharjah Investment and Development Authority (Shurooq), Careem, RAKBANK, Floward & Alaan, Sharjah Research Technology and Innovation Park (SRTIP), Sharjah Broadcasting Authority, Sharjah Roads and Transport Authority, Sharjah Electricity, Water and Gas Authority (SEWA), Majid Al Futtaim, Emirates National Oil Company (ENOC), in addition to Publicis Group, Entrepreneur Middle East, Inc., and Paymob Arabia.
The launch of this fund extends Sheraa's role in supporting the growth of startups and SMEs through a system of programs, initiatives, and partnerships aimed at enhancing business continuity and enabling them to adapt to economic changes.
The fund also opens the door for partners from both the government and private sectors to contribute to supporting sustainable businesses, reflecting a shared commitment to strengthening the resilience of Sharjah's entrepreneurship ecosystem.
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