The Ministry of Industry and Advanced Technology (MoIAT), Etihad Credit Insurance (ECI), and Sharjah Entrepreneurship Centre (Sheraa) signed a Memorandum of Understanding (MoU) to provide technical support, strategic consultation, and capacity building for entrepreneurs and industrial SMEs to help them access local and international markets.

The MoU was signed by Osama Amir Fadhel, Assistant Undersecretary of the Industry Accelerators Sector at MoIAT; Najla Al Midfa, CEO Sheraa; and Raja Al Mazrouei, CEO of ECI.

The agreement aims to propel entrepreneurial growth in the region through a multifaceted approach including strategic advisory, capacity-building initiatives, and market access. The agreement will pave the way for startups to thrive in line with the National Strategy for Industry and Advanced Technology, by tapping into a wealth of resources for growth and development.

ECI will provide vital support in financial risk mitigation, funding access, and invaluable networking opportunities on a global scale, further propelling entrepreneurial growth in the region.

Sheraa’s Centre of Excellence (CoE) for Advanced Manufacturing aims to provide startups with access to critical resources such as mentoring, international market access, capacity building, and research support. The CoE offers services ranging from knowledge-sharing to market access to financing, empowering startups to thrive from the nascent stages to more established phases.

Fadhel commented, “The ministry aims to enhance the growth and competitiveness of the industrial sector through developing enablers and incentives. We focus on creating investment opportunities that support the growth of industrial companies, especially for SMEs and entrepreneurs.”

He added, “Collaboration between the ministry and its strategic partners is one way in which the ministry empowers the UAE’s industrial sector, including its SMEs and entrepreneurs. This collaboration will open new horizons for industrial projects and emerging companies. Through new enablers, it will support exports to new markets around the world, providing the opportunity for emerging companies to participate in the UAE’s economic and social development.”

Al Midfa stated, “Our Centre of Excellence aims to enhance the advanced manufacturing and CPG sectors within Sharjah and the UAE by launching and scaling startups, instilling a culture of innovation, and creating demand for high-skilled jobs.

"This MoU signing actively shows our collective drive towards excellence in entrepreneurship, and the advantageous environment the UAE provides for businesses to grow and expand their markets.”

Al Mazrouei said, “We are pleased to collaborate with the Sheraa and the MoIAT as it aligns with our commitment to providing innovative credit solutions, facilitating easy access to finance, offering expert market insights, and nurturing strategic collaborations. These efforts aim to bolster the reputation of Sharjah and UAE as a leading trade and investment hub, both regionally and globally.”