Page 38 - ETIHAD CREDIT INSURANCE PR REPORT - MAY 2024

6/5/24, 4:13 PM MoIAT, ECI and Sheraa to empower the industrial SMEs, entrepreneurs - GulfToday
services ranging from knowledge-sharing to market access to financing, the CoE empowers startups
to thrive from the nascent stages to more established phases.

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.

Both entities will also facilitate 1-on-1 advisory sessions and workshops conducted by industry
experts, where startups will receive tailored guidance on various aspects of business operations. This
personalised approach ensures that startups are equipped with the necessary tools and knowledge
to navigate the challenges of entrepreneurship, ultimately enhancing their prospects for success and
aligning their growth with the UAE’s national agenda.

Fadhel, said: “The ministry, in line with the objectives of the National Strategy for Industry and
Advanced Technology, 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 under the Make it in the Emirates initiative, especially for
SMEs and entrepreneurs. We are confident that our partnership with Sheraa and ECI will enhance
the capabilities of entrepreneurs and startups and enable them to grow and boost their
competitiveness.”

He added: “Collaboration between the ministry and its strategic partners, such as ECI and Sheraa, 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.”

Speaking on the evolution of the entrepreneurial landscape, especially regarding manufacturing and
consumer packaged goods, Najla 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. By collaborating
with key strategic partners who are leaders in their respective sectors, 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.”

Raja Al Mazrouei, Chief Executive Officer of ECI, emphasised the significance of such strategic
partnerships in fostering an environment where startups can flourish, thereby contributing to the
UAE’s economic goals.

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