Ruwad funds new Sharjah entrepreneurial projects at Dhs 670,000

Sharjah Foundation for Supporting Entrepreneurial Projects (Ruwad) approved financing applications for four new entrepreneurial projects in the Emirate of Sharjah, with a total value of Dhs 670,000.

The approval was given during the 37th meeting of the Ruwad's Project Financing Committee of the Sharjah Foundation for Supporting Entrepreneurial Projects (Ruwad), affiliated with the Sharjah Economic Development Department (SEDD).

Hamad Ali Abdullah Al Mahmoud, Chairman of SEDD, who chaired the meeting, emphasised that the financing services provided by the Foundation to support Emirati entrepreneurs who own small and medium enterprises in the emirate represent a promising and ambitious investment that strengthens the future of the national economy and empowers our youth to be effective and influential partners in the comprehensive and sustainable development process in the UAE.

He confirmed that Ruwad continues its commitment to consolidating the global model established by the UAE in the entrepreneurship sector. This also reflects Sharjah's position as a major incubator for creativity and innovation. Ruwad transforms ideas into inspiring projects and ambitions into true success stories, which can be considered a fundamental lever for building a diversified knowledge-based economy that keeps pace with the future and anticipates its broad horizons and rising trends.

The meeting reviewed the list of projects that had submitted funding applications. Four projects received approval under the Foundation's direct funding system. These projects were distributed by city: three in Sharjah and one in Kalba. By type of activity, three projects were in the professional (service) sector, and one project was in the commercial sector.

The projects that received funding approval were divided into three projects owned by Emirati female entrepreneurs, while the fourth project was owned by an Emirati entrepreneur.

By the end of the third quarter of 2025, the total number of projects approved for financing by the Foundation had risen to 16, with a total financing value of Dhs3,860,000.

As part of the meeting agenda, attendees reviewed the remaining financing balance for 2025. The committee decided to raise the financing ceiling allocated for the fourth quarter to Dhs1,500,000, in response to the growing demand from entrepreneurial projects seeking financing services provided by the Foundation, whether through direct or indirect financing.

 WAM