Sharjah has approved AED 800,000 (approximately $217,800) in new funding to support early-stage entrepreneurs and accelerate SME growth, reinforcing the emirate’s push for economic diversification and sustainable development.
The funding was approved by Sharjah Foundation to Support Pioneering Entrepreneurs (RUWAD), an initiative under the Sharjah Economic Development Department. The decision was announced during RUWAD’s 40th Project Funding Committee meeting, the first to be held in 2026.
The meeting was chaired by Hamad Ali Abdullah Al Mahmoud, Chairman of SEDD, and attended by senior officials and committee members. The newly approved allocation will support two new SME projects, combining both direct financial support and bank-backed financing.
Looking back at 2025, Al Mahmoud highlighted RUWAD’s strong momentum, noting that eight funding committee meetings were held during the year, resulting in the approval of 21 projects with a total value of AED 6 million ($1.63 million). Of this amount, $1.17 million was provided as direct funding, while $462,899 was extended through indirect bank financing.
Under the latest approvals, one project will receive $27,229 in direct funding, while the second will benefit from $190,605 in bank-backed financing. The committee also set the financing ceiling for the first half of 2026 and instructed the development of a new project evaluation framework to further strengthen funding decisions.
To improve project performance and long-term sustainability, RUWAD endorsed a series of new support measures. These include specialized training programs focused on financial budgeting, cash flow management, and quality assurance, as well as expanded access to suppliers and more competitive pricing opportunities. Contribution ratios will also be refined based on funding size and credit assessments.
Through these initiatives, RUWAD continues to position Sharjah as a regional hub for innovation-driven entrepreneurship, aligning SME development with the emirate’s broader economic strategy and reinforcing its role in building a resilient, diversified economy.
