RUWAD funds AED2.86 million worth of projects, welcomes 449 new members in 2024

The Sharjah Foundation to Support Pioneering Entrepreneurs (RUWAD), affiliated with the Sharjah Economic Development Department, has issued its annual report for 2024, revealing the funding of 13 projects worth AED2.86 million and the addition of 449 new projects to its membership network.

The report coincides with the 20th anniversary of RUWAD’s founding as a pioneering government entity in supporting leading national projects in the Emirate of Sharjah, and highlights its central role in empowering the local entrepreneurial ecosystem.

Hamad Ali Abdullah Al Mahmoud, Chairman of the Sharjah Economic Development Department, said the establishment of RUWAD under a decree by His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, in 2005, marked a turning point. He affirmed that the Foundation has succeeded in establishing an early and effective government model for supporting entrepreneurship and empowering thousands of Emirati entrepreneurs. He added that RUWAD remains an inspiring and bright chapter in Sharjah’s journey of investing in people.

Fatima Al Ali, Acting Director of RUWAD, affirmed the Foundation’s commitment to localising the entrepreneurial environment and driving it toward greater success.

The 2024 figures showed that RUWAD organised 57 training programmes benefiting 1,414 trainees, provided 118 consultations, and granted 81 projects government fee exemptions amounting to AED8.727 million. Government purchases from member projects totalled nearly AED3.485 million.

Amina Mohammed, Director of the Training, Research and Events Department, said RUWAD acts as an active connector, noting that last year saw 22 business matchmaking deals between projects, 17 development meetings with partners, and participation in 10 external events and exhibitions. Internally, the Foundation achieved an Emiratisation rate of 97 percent and a job satisfaction rate of 88 percent.