The Sharjah Entrepreneurship Centre (RUWAD), an initiative under the Sharjah Economic Development Department, has reported a significant acceleration in its support for local entrepreneurs in the first quarter of 2026. The foundation’s financing for Sharjah-based businesses more than doubled, alongside a sharp increase in government procurement contracts awarded to its member startups, signaling a growing focus on high-value, tech-driven ventures within the emirate.
Quick Facts
- AED1.5 million in direct funding deployed in Q1 2026.
- 108% year-on-year growth in total project financing.
- AED2.3 million in government contracts secured by members.
A Shift Towards Tech and Scalability
According to Hamad Ali Abdullah Al Mahmoud, Chairman of the Sharjah Economic Development Department, the results reflect a maturing ecosystem. He highlighted a clear trend of Emirati-led companies moving into sectors like advanced technology, green economy, digital services, and smart solutions.
Al Mahmoud noted that founders are increasingly building scalable business models that integrate modern technologies and artificial intelligence. This strategic focus is designed to improve product offerings and strengthen the competitiveness of national companies on both a local and regional level.
Inside the Numbers: Membership and Support Growth
Detailing the Q1 performance, Fatima Al Ali, Acting Director of RUWAD, confirmed that the foundation financed three projects with a total of AED1.5 million. This is a substantial increase from the AED720,000 provided to four projects during the same period in 2025.
The foundation also expanded its network, welcoming 137 new projects, the majority of which were commercial ventures. Operationally, RUWAD conducted 47 field visits, provided 31 specialized consultations, and added 13 new ventures to the supplier register of the Sharjah Central Finance Department, bringing the total to 194 registered projects.
New Partnership to Expand Financing
To further bolster support for local businesses, RUWAD signed a memorandum of understanding with Emirates Development Bank. The partnership aims to strengthen financing opportunities for national projects by providing entrepreneurs with access to a wider range of advisory services and funding solutions.
Alongside its core financial activities, RUWAD maintained a strong presence in the community by participating in key events, including the Sharjah Entrepreneurship Festival 2026 and the Mada Festival, and delivering nine workshops that benefited 205 participants.
About RUWAD
The Sharjah Entrepreneurship Centre (RUWAD) is an initiative affiliated with the Sharjah Economic Development Department. It is dedicated to supporting and empowering Emirati entrepreneurs by providing financing, training, government fee exemptions, and strategic partnerships to foster the growth of small and medium-sized enterprises within the Emirate of Sharjah.
Source: Emirates News Agency (WAM)
