RUWAD issues 2024 annual report, celebrating its 20th anniversary
In his opening remarks, Hamad Ali Abdullah Al Mahmoud highlighted the significance of RUWAD, which was established in 2005 by His Highness Sheikh Dr Sultan bin Mohammad Al Qasimi, Supreme Council Member and Ruler of Sharjah. This initiative represents a key moment reflecting the leadership's belief in the important role that young people play in improving their communities and countries. The goal is to provide young entrepreneurs with the tools, resources, and support they need to make valuable contributions to the economy of Sharjah.
Over the past twenty years, the Foundation has successfully created a model to help foster a vibrant environment for entrepreneurs. This model supports the growth of small businesses through effective organizational work and focuses on developing this important economic sector. It has assisted thousands of Emirati entrepreneurs, regardless of gender, by offering training, guidance, and resources to help them turn their ideas into successful businesses. These efforts not only boost the local economy but also enhance the variety and quality of services and products available in the community. Al Mahmoud emphasized that Ruwwad will continue to be a symbol of inspiration in Sharjah's commitment to investing in its people and nurturing their innovative ideas.
Figures and achievements
Fatima Al Ali, the Acting Director of RUWAD, highlighted that over the last 20 years, Sharjah has shown remarkable success by focusing on its most important asset—its people. She emphasized that supporting individuals is key to driving progress and achieving the city's goals. The Foundation is dedicated to creating a thriving environment for entrepreneurs in Sharjah, helping them reach new heights and continuous success.
In 2024, RUWAD funded 13 new projects with a total investment of AED 2,860,000. They also welcomed 449 new projects into their membership network. Many existing projects renewed their membership, with 330 projects extending for a second and third year, and 135 projects continuing for their fourth and fifth years. The Foundation organized 57 training programs and workshops that benefited 1,414 participants. They provided 118 different consultations and conducted 220 visits to various projects.
Additionally, 81 projects received support through a classification and evaluation program, and projects valued at AED 8,727,000 were given exemptions from government fees. Members of this organization made purchases amounting to about AED 3,485,000 last year. The number of projects joining business centers and incubation programs in Sharjah and beyond also grew to 36.
Road to leadership and partnership
Amina Mohammed, the Director of the Training, Research, and Events Department, spoke about how important government policies are in supporting entrepreneurship in Sharjah. She mentioned that these policies play a key role in boosting the local economy, encouraging innovation, and helping young leaders succeed. Amina highlighted that RUWAD serves as a vital connection between various projects and government agencies that support entrepreneurship. The organization organizes numerous activities and programs that foster partnerships and communication.
She shared some successes from the past year, noting that there were 22 partnerships formed between projects, 17 visits and meetings organized with partners, 11 media visits, and 9 community initiatives launched. Additionally, RUWAD participated in 10 external events and forums, showcasing several member projects. On a more personal note, Amina mentioned that the organization has made significant strides in creating a positive work environment for its employees, achieving an impressive satisfaction rate of 88%. Furthermore, they have made notable progress in hiring Emiratis, reaching an Emiratisation rate of 97%.
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