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Thu 5 Dec 2019 03:17 PM

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Sheraa-supported start-ups see more than $50m investment

Najla Al Midfa, CEO of Sheraa says the companies have earned $35m in cumulative revenue

Sheraa-supported start-ups see more than $50m investment

Najla Al Midfa, CEO of Sheraa

Start-ups supported by Sharjah Entrepreneurship Centre (Sheraa) have raised more than $50 million in investment over the last four years.

Najla Al Midfa, CEO of Sheraa revealed the companies have earned $35m in cumulative revenue.

She said: “These are the sweet success stories every accelerator dreams of. We have been honoured to work with some of the region’s most passionate and driven founders."

Al Midfa was giving the opening address at the third edition of the recent Sharjah Entrepreneurship Festival, which featured more than 11 speakers and around 4,000 attendees.

Sheraa, which was founded in 2018 to support entrepreneurs and is located at the American University of Sharjah and University of Sharjah, has helped more than 100 start-ups since its inception.

Al Midfa told the large audience that the industry was changing and start-ups were placing a stronger emphasis on more than financial returns.

“We are witnessing a new generation of responsible entrepreneurs, conscious change makers that build businesses that combine financial and social returns and ultimately make the world a better place,” she said.

“Shift your focus from reckless growth to a holistic understanding of economic, social and environmental sustainability. Let us come together and build amazing companies that give power back to the community, providing jobs, dignity, independence, and the true joy of a meaningful life."