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6/5/24, 4:12 PM               MoIAT, ECI, Sheraa to empower SMEs, entrepreneurs in industrial sector | Emirates News Agency

        MoIAT, ECI, Sheraa to empower SMEs, entrepreneurs in industrial sector

         Friday, May 31, 2024 1:49 PM2 minutes Reading



              Summary     A+


           ABU DHABI, 31st May, 2024 (WAM) -- 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.”



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