PHOTO
· Collaboration initiated to nurture next generation of social entrepreneurs in Middle East
· Focus is on developing a social entrepreneurship platform including co-hosted mentoring events, competitions, launch-pad opportunities and governance support
Sharjah, UAE - As part of its commitment to supporting the growth of socially-conscious entrepreneurs in the region, Sheraa - a launch pad for aspiring entrepreneurs in the United Arab Emirates – has entered in to an exclusive strategic partnership with Crescent Enterprises, the founding partner for Sheraa’s social entrepreneurship track, to co-create initiatives that develop the region’s social entrepreneurship ecosystem. Crescent Enterprises operates a diverse and global range of businesses from its base in the UAE, and is present through 20 subsidiaries and affiliates across five continents.
Through this partnership, Sheraa and Crescent Enterprises seek to develop an actionable framework for social entrepreneurship in the UAE and the wider region. The two entities will create joint initiatives that will harness the potential of young entrepreneurs to generate positive social impact through economically viable and scalable startups.
Remarking on the strategic collaboration, Najla Al Midfa, General Manager, Sheraa, said: “We are excited to join forces with Crescent Enterprises, as this will spur our collective efforts to open up avenues for social entrepreneurship amongst the youth. We believe that the young aspiring entrepreneurs hold the reins to building ventures that strengthen the sustainable credentials of a country. Sheraa is that confident first step towards creating scalable projects that lead to positive socio-economic change in communities.”
Social entrepreneurship integrates commercial profitability and social impact, and is increasingly being recognized as an innovative business model that can address the region’s socio-economic challenges and drive scalable and sustainable solutions.
Commenting on the partnership, Badr Jafar, CEO, Crescent Enterprises, said, “In line with our Nation’s vision and as part of this Year of Giving, we are excited to collaborate with Sheraa towards nurturing the region’s next generation of social entrepreneurs who we hope will be at the forefront of addressing many of the region’s most pressing social and environmental challenges. Our intention with this collaboration is to help build a socially-conscious, inclusive and sustainable entrepreneurial ecosystem in the UAE and the wider region.”
This collaboration will draw on the expertise of Crescent Enterprises and its internal startup incubator CE-Ventures in developing and growing sustainable purpose-driven businesses, and on Sheraa’s strong outreach and impact in Sharjah’s and the UAE’s budding entrepreneurship community.
Sheraa and Crescent Enterprises will kick off the collaboration with a two-year pilot program consisting of 10 mentoring events for young entrepreneurs and three social enterprise challenges that encourage students to collaborate on developing innovative applications for social good. The pilot program will also provide aspiring startups with access to business support and mentoring, capitalizing on Crescent Enterprises’ global network and expertise that spans four decades of operations in diverse sectors.
-Ends-
Sheraa (Sharjah Entrepreneurship Center):
Sheraa (Sharjah Entrepreneurship Center) was launched in January 2016, under the patronage of Sheikha Bodour bint Sultan bin Muhammad Al Qasimi - Chairperson of the Sharjah Investment and Development Authority (Shurooq) - to provide a launch pad for aspiring young entrepreneurs in the UAE. Sheraa's state-of-the-art co-working facility is housed at the American University of Sharjah, and hosts a thriving community of students and ambitious entrepreneurs. Sheraa – ‘Sail’ in Arabic - inspires youth to pursue their entrepreneurial dreams, and empowers them to navigate through the processes of launching a business, transforming them from job seekers to job creators in the United Arab Emirates and the wider region. It runs the country’s first university-based ‘accelerator’ program, offering a mentorship-driven, three-month entrepreneurship boot camp to support teams that demonstrate entrepreneurial spirit and courage. The hands-on accelerator also provides seed-funding, strategic mentorship by industry professionals and a suite of other competitive benefits. It successfully unveiled 10 startups through the inaugural flagship accelerator showcase day, which is conceived in the center’s expansive co-working space where creativity is fostered in an exuberant environment.
About Crescent Enterprises:
Crescent Enterprises is a multinational company headquartered in the UAE, active in the fields of ports and logistics; power and engineering; business aviation; healthcare; private equity and business incubation. Through its group of 20 subsidiary and affiliate companies, Crescent Enterprises employs over 5,000 people, across in 22 countries on five continents.
The company has a long-term investment and operating philosophy and is a leader in growing diversified regional and global companies and building sustainable, scalable and profitable enterprises. CE-Ventures, one of the company’s divisions, develops early-stage concepts into fully viable businesses that generate inclusive social impact.
Crescent Enterprises is a wholly-owned subsidiary of the Crescent Group, one of the most progressive family business groups, which has been actively contributing to the economic landscape of the Middle East and North Africa (MENA) Region for over 43 years. Crescent Group’s other subsidiary, Crescent Petroleum, is the first and the largest indigenous, privately-owned upstream oil and gas company in the Middle East. For further information, please visit: http://www.crescententerprises.com/
© Press Release 2017
