The annual ‘Sharjah Entrepreneurship Festival’ has quite a straight-forward mission to accomplish. Identify a cohort of startup businesses that would set out to grow from within the environs of the emirate’s many business and economic hubs.
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The message that was coming through from the two-day ‘festival’ of minds was just as compelling – wannabe entrepreneurs need to have the idea. And just as vital, make the effort to get going with it. Or ‘Just Start’, as Najla Al Midfa, CEO of Sheraa says.
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“The most successful entrepreneurs that I have met all have one trait in common - Their ability to start. Not just once, but time and time again, they consistently choose courage over comfort, and they consistently choose action over complacency.
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One of the key sessions featured Mohammed Alabbar, of Emaar and Noon. "The difference between the two is that the tech business constantly upgrades the human mind, and technology keeps us on our toes. This is what I want to share with the youth.”
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Despite being the weekend, the turnout was heavy well ahead of the halls opening at 10am on Saturday. The UAE's startup scene has put together two-three years of high-powered growth, with tech and digital focused entities leading the way.
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It was an opportunity to meet business titans and startup founders who had gone on to win success on their terms. The intent was to pick up on what can help newer startups chart their way to growth. The atmosphere was relaxed too.
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The event, hosted at Sharjah Research Technology and Innovation Park, had more than 100 'award-winning startups hailing from across the world'.
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Gaming is serious business with startup founders in the Gulf. Present to channel his thoughts on the trend was Prince Faisal Bin Bandar Al Saud, Chairman of Saudi Esports Federation, who said: "In the Middle East, it is heartening to see the vibrant adoption of gaming. The cultural richness of our region is seen in the cultural diversity of our region’s gamers..."
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Sharjah on its own has been making quite the headway as a natural choice for startups and SMEs, spread across industries. Industry sources say that the emirate's well established higher education system is also providing the talent to build the startup ecosystem.
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An obvious star speaker was UAE's new Minister of Youth and atronaut, Dr. Sultan Al Neyadi. “Supporting young entrepreneurs is not just a moral duty, but an investment in the future of our nation and the world. This is why the UAE’s leadership has designed a national methodology at the federal level that has over 300 initiatives and national youth empowerment programs, which support and guide them to hone their skills in a realistic manner..."
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Where gaps exist in fueling the startup space, new and better ways will be found to resolve them. "Ensuring quality education is a continuous process that requires our collective efforts,” said Dr. Muhadditha Al Hashemi, Chairperson of the Sharjah Private Education Authority. “A lot has been done in this regard, but the journey is far from over."
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As always, where the best minds and ideas meet, networking is part of the territory. The 2-day Sharjah Entrepreneurship Festival does provide a lot of that.
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And never ever be thinking short-term. “Business leaders should not eye short-term strategies only," said Ahmed AlKhoshaibi, CEO of Sharjah-headquartered developer Arada. "There should be a long-term vision for the company and people, which can sometimes be detached from short-term revenue goals."
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A constant chatting point during the event was about the funds needed for a newer crop of startups to get cracking. The cost of funds have gone up, but multiple UAE government agencies are finding ways not to let cost come in the way of taking a bright idea to market.
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In the final analysis, the Sharjah Entrepreneurship Festival 2024 was about making a point to entrepreneurs. Make the start and put your stamp on the UAE's startup scene...
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