Latest news with #RUWAD
Zawya
6 days ago
- Business
- Zawya
RUWAD funds $778mln worth of projects, welcomes 449 new members in 2024
SHARJAH: The Sharjah Foundation to Support Pioneering Entrepreneurs (RUWAD), affiliated with the Sharjah Economic Development Department, has issued its annual report for 2024, revealing the funding of 13 projects worth AED2.86 million and the addition of 449 new projects to its membership network. The report coincides with the 20th anniversary of RUWAD's founding as a pioneering government entity in supporting leading national projects in the Emirate of Sharjah, and highlights its central role in empowering the local entrepreneurial ecosystem. Hamad Ali Abdullah Al Mahmoud, Chairman of the Sharjah Economic Development Department, said the establishment of RUWAD under a decree by His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, in 2005, marked a turning point. He affirmed that the Foundation has succeeded in establishing an early and effective government model for supporting entrepreneurship and empowering thousands of Emirati entrepreneurs. He added that RUWAD remains an inspiring and bright chapter in Sharjah's journey of investing in people. Fatima Al Ali, Acting Director of RUWAD, affirmed the Foundation's commitment to localising the entrepreneurial environment and driving it toward greater success. The 2024 figures showed that RUWAD organised 57 training programmes benefiting 1,414 trainees, provided 118 consultations, and granted 81 projects government fee exemptions amounting to AED8.727 million. Government purchases from member projects totalled nearly AED3.485 million. Amina Mohammed, Director of the Training, Research and Events Department, said RUWAD acts as an active connector, noting that last year saw 22 business matchmaking deals between projects, 17 development meetings with partners, and participation in 10 external events and exhibitions. Internally, the Foundation achieved an Emiratisation rate of 97 percent and a job satisfaction rate of 88 percent.
Al Etihad
6 days ago
- Business
- Al Etihad
RUWAD funds Dh2.86 million worth of projects, welcomes 449 new members in 2024
17 July 2025 00:19 SHARJAH (WAM) The Sharjah Foundation to Support Pioneering Entrepreneurs (RUWAD), affiliated with the Sharjah Economic Development Department, has issued its annual report for 2024, revealing the funding of 13 projects worth Dh2.86 million and the addition of 449 new projects to its membership report coincides with the 20th anniversary of RUWAD's founding as a pioneering government entity in supporting leading national projects in the Emirate of Sharjah, and highlights its central role in empowering the local entrepreneurial of the Sharjah Economic Development Department, Hamad Ali Abdullah Al Mahmoud, said the establishment of RUWAD under a decree by His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, in 2005, marked a turning point. He affirmed that the Foundation has succeeded in establishing an early and effective government model for supporting entrepreneurship and empowering thousands of Emirati entrepreneurs. He added that RUWAD remains an inspiring and bright chapter in Sharjah's journey of investing in Director of RUWAD, Fatima Al Ali, affirmed the Foundation's commitment to localising the entrepreneurial environment and driving it toward greater 2024 figures showed that RUWAD organised 57 training programmes benefiting 1,414 trainees, provided 118 consultations, and granted 81 projects government fee exemptions amounting to Dh8.727 million. Government purchases from member projects totalled nearly Dh3.485 of the Training, Research and Events Department, Amina Mohammed, said RUWAD acts as an active connector, noting that last year saw 22 business matchmaking deals between projects, 17 development meetings with partners, and participation in 10 external events and exhibitions. Internally, the Foundation achieved an Emiratisation rate of 97 percent and a job satisfaction rate of 88 percent.
Sharjah 24
6 days ago
- Business
- Sharjah 24
RUWAD issues 2024 annual report, celebrating its 20th anniversary
Inspiring journey 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%.
Sharjah 24
10-07-2025
- Business
- Sharjah 24
RUWAD approves financing for 4 projects worth AED1.55 mn
Intensive efforts to launch and sustain projects Hamad Ali Abdullah Al Mahmoud, who leads the Sharjah Economic Development Department and heads the Project Financing Committee at the Sharjah Foundation for Supporting Entrepreneurs (RUWAD), has emphasized the committee's ongoing commitment to helping small and medium-sized businesses in Sharjah. He highlighted that they are working hard to provide financial support that is flexible and tailored to meet the needs of these businesses, which is crucial for their growth and success. Al Mahmoud explained that the committee carefully reviews the projects submitted to them, ensuring that they provide the right assistance to promising new ideas. This support is intended to help these initiatives thrive, add value to the local economy, and align with Sharjah's vision of becoming a hub for knowledge and innovation. Diverse agenda The meeting took place at the SEDD headquarters in Sharjah, where the attendees discussed several important topics. They reviewed the budget for 2025 and went over the financial records of RUWAD. Additionally, they looked at a list of projects that are seeking funding for the first time or need more financial support. The meeting also featured a presentation of projects that were being reconsidered for funding. New financing approvals During the recent committee meeting, a total of AED 1,550,000 was approved to support four different projects. The committee decided to directly fund two of these projects through the RUWAD program. One project is a new commercial venture located in the Al Saja'a area, while the other is a vocational initiative in Dibba Al Hisn. Additionally, the committee approved extra funding for one project in the industrial sector, amounting to a specific sum, which will also be provided through direct financing. They also agreed to support another technical project with funding through the bank, which will be done indirectly. 9 projects beneficiary since the beginning of the year So far this year, the committee has approved a total of nine projects, including some that are getting extra funding. The overall amount of money approved for these projects comes to 2,670,000 AED. Supportive development proposals At the end of the meeting, the committee members talked about several ideas to improve the support and funding for various projects. One suggestion was to combine technical evaluations with legal advice to help ensure better decision-making. They also discussed ways to make it easier for projects to get started and find the right suppliers for their different needs, especially in areas like monitoring, design, decoration, and construction. Additionally, they touched on other topics such as providing clear information about who really owns a project, protecting consumers, and understanding credit ratings.
Zawya
10-07-2025
- Business
- Zawya
RUWAD approves financing for 4 projects worth $422k
SHARJAH: The Project Financing Committee of the Sharjah Foundation for Supporting Entrepreneurial Projects (RUWAD) approved during its 35th meeting four projects at a total of AED 1,550,000. The meeting was led by Hamad Ali Abdullah Al Mahmoud, Chairman of the Sharjah Economic Development Department. The committee decided to directly fund two of these projects through the RUWAD programme. One project is a new commercial venture located in the Al Saja'a area (AED 200,000), while the other is a vocational initiative in Dibba Al Hisn (AED 200,000). Additionally, the committee approved extra funding of AED 450,000 for one project in the industrial sector, amounting to a specific sum, which will also be provided through direct financing. They also agreed to support another technical project with funding (AED 700,00) through the bank, which will be done indirectly. So far this year, the committee has approved a total of nine projects, including some that are getting extra funding. The overall amount of money approved for these projects comes to AED 2,670,000. The committee members talked about several ideas to improve the support and funding for various projects. One suggestion was to combine technical evaluations with legal advice to help ensure better decision-making. They also discussed ways to make it easier for projects to get started and find the right suppliers for their different needs, especially in areas like monitoring, design, decoration, and construction. Additionally, they touched on other topics such as providing clear information about who really owns a project, protecting consumers, and understanding credit ratings.
