Ruwad Approves Funding For Four New Entrepreneurial Projects In Sharjah Totalling AED 670,000

The Sharjah Foundation for Supporting Entrepreneurial Projects, known as Ruwad, has approved funding for four new entrepreneurial ventures in Sharjah. The total financing amounts to AED 670,000. This decision was made during the 37th meeting of Ruwad's Project Financing Committee, which operates under the Sharjah Economic Development Department (SEDD).

Hamad Ali Abdullah Al Mahmoud, Chairman of SEDD, led the meeting. He highlighted that the foundation's financial support for Emirati entrepreneurs with small and medium enterprises is a significant investment. It aims to boost the national economy and empower young people to contribute to sustainable development in the UAE.

Ruwad is dedicated to reinforcing the UAE's global model in entrepreneurship. This commitment underscores Sharjah's role as a hub for creativity and innovation. The foundation helps transform ideas into successful projects, contributing to a diverse knowledge-based economy that aligns with future trends.

The committee reviewed project applications seeking funding. Four projects were approved through Ruwad's direct funding system. These include three projects in Sharjah and one in Kalba. By sector, three are professional service ventures, while one is commercial.

Among the approved projects, three are led by Emirati women entrepreneurs, and one by an Emirati man. By the end of Q3 2025, Ruwad had approved 16 projects with a total funding value of AED 3,860,000.

The meeting also addressed the remaining financing balance for 2025. Due to increased demand for funding services from entrepreneurial ventures, the committee decided to raise the financing ceiling for Q4 to AED 1,500,000.

This increase accommodates both direct and indirect financing requests from entrepreneurs seeking support from Ruwad.

With inputs from WAM