Sharjah: Ruwad Approves AED720,000 Funding For Four New Entrepreneurial Projects

The Sharjah Foundation to Support Pioneering Entrepreneurs (Ruwad) has approved funding for four new small businesses, totalling AED720,000. These approvals were made during the 32nd and 33rd meetings of the Project Funding Committee in January and March 2025. The meetings were led by Hamad Ali Abdullah Al Mahmoud, Chairman of the Sharjah Economic Development Department, alongside other committee members.

During these sessions, the committee evaluated new funding applications and sanctioned financing for four entrepreneurial ventures through direct financing. These projects cover diverse sectors such as food services, beauty centres, cryotherapy, and entertainment. Two of these ventures are owned by women entrepreneurs, while the remaining two have joint ownership between men and women.

In January, the committee also assessed a report detailing projects funded in 2024. A total of 13 projects received financial backing amounting to AED2.86 million. Among these, nine projects were based in Sharjah city, representing 64% of the total. The Eastern Region accounted for four projects (29%), while one project was located in the Central Region.

The gender distribution of these funded initiatives showed that male entrepreneurs led ten projects, whereas female entrepreneurs spearheaded four projects. This reflects a significant participation of women in entrepreneurial activities supported by Ruwad.

Key participants in these meetings included Saeed Ghanem Al Suwaidi, Faisal Jassim Al Madfa, Fahad Al Khameri, Dr. Mudathir Abdullah, and Nora Al Zarooni. Additionally present were members from the technical project funding committee like Nasser Abdullah Al Owais, Rashid Sawaked, and Hamda Khater.

The committee's agenda also involved reviewing Ruwad's accounts and financial budget. They discussed several development proposals and made decisions regarding their implementation to ensure effective support for entrepreneurial growth.

This strategic approach by Ruwad highlights its commitment to fostering entrepreneurship across various sectors while ensuring gender inclusivity in business opportunities within Sharjah and its regions.

With inputs from WAM