Ruwad Foundation advances Sharjah’s entrepreneurial landscape with AED3.7 million in third-quarter financing
The Sharjah Foundation to Support Pioneering Entrepreneurs has demonstrated its commitment to fostering business growth, allocating substantial resources to small and medium-sized enterprises whilst facilitating hundreds of government contracts.
The Sharjah Foundation to Support Pioneering Entrepreneurs, known as Ruwad and operating under the governance of the Sharjah Economic Development Department, has released its third-quarter report for 2026, revealing a period of considerable achievement in nurturing the emirate’s entrepreneurial ecosystem.
During the third quarter alone, Ruwad extended financing totalling AED3.727 million across ten small and medium-sized enterprises. Of this substantial allocation, nine projects received direct financing amounting to AED2.727 million, whilst one enterprise benefited from AED1 million through indirect financing facilitated via banking channels. These decisions emerged from three dedicated meetings convened by the foundation’s Project Financing Committee, during which applications underwent rigorous evaluation.
The foundation welcomed 168 newly established projects into its membership, complementing its ongoing support for existing ventures. The entrepreneurial landscape expanded further with 490 Eitimad licence transactions, encompassing both new registrations and renewals, alongside 307 electronic commerce licences. In terms of skills advancement, 351 entrepreneurs engaged in carefully curated training programmes, whilst 51 business proprietors benefited from specialised consultations tailored to their particular circumstances.
A particularly noteworthy dimension of Ruwad’s third-quarter operations involved facilitating member projects’ participation in government procurement opportunities. Member enterprises secured 198 contracts with 33 government entities throughout Sharjah, representing a combined value of AED1.971 million. This figure underscores the foundation’s instrumental role in connecting capable businesses with meaningful opportunities within the public sector.
Hamad Ali Abdullah Al Mahmoud, Chairman of the Sharjah Economic Development Department, emphasised that these achievements exemplify the coordinated endeavour to strengthen Sharjah’s entrepreneurship ecosystem. He affirmed the foundation’s multifaceted approach, encompassing financing provisions, comprehensive training initiatives, expert consultations and enhanced government contracting access, all designed to cultivate entrepreneurs’ competitive capabilities and foster sustainable enterprises contributing to local economic development.
Fatima Al Ali, Acting Director of Ruwad, highlighted the diverse sectoral composition of new memberships: 109 commercial enterprises representing 65 per cent of additions, with 59 professional ventures comprising the remaining 35 per cent. The membership reflected commendable gender inclusivity, with 66 per cent of projects established by male entrepreneurs, 32 per cent by female entrepreneurs, and 2 per cent representing joint male and female ownership structures.
The foundation’s community engagement initiatives demonstrated sustained momentum, including participation at the AIM Investment Summit in Abu Dhabi and collaborative sessions with the Sharjah Book Authority, where entrepreneurs shared transformative narratives with university students. Additional engagement comprised representation at educational forums addressing entrepreneurial support challenges within higher education institutions.
Source: WAM