Photo has been used for illustrative purpose.

Mariecar Jara-Puyod, Senior Reporter

The Novel Coronavirus (COVID19) has made individuals across the globe become risk-takers and more determined to set up start-ups either individually or as a group. Over in Sharjah, a special zone where these people could nurture creativity and innovation has announced the enlistment of 750 entrepreneurial companies from around the world for the “Sharjah Advanced Accelerator 2.0” (SAIA).

SAIA was formally launched in May 2020. It is a reflection of the vision of His Highness Dr. Sheikh Sultan Bin Mohammed Al Qasimi, Member of the UAE Supreme Council and Ruler of Sharjah, which is to drive the “innovative sector in the emirate by attracting creators from all over the world.”

The SAIA programme host and venue is the Sharjah Research Technology and Innovation Park (SRTI Park), established by Sheikh Sultan.

The SAIA programme is in support of the “UAE’s Unified Industrial Brand Identity, ‘Make It In The Emirates,’ an integrated industrial system that leverages advanced technologies and Fourth Industrial Revolution solutions to contribute to building a sustainable knowledge-based economy,” said SRTI Park chief executive officer Hussain Al Mahmoudi.

On Monday, Al Mahmoudi also said: “The SAIA 2.0 (is to help) start-ups introduce their products and innovations to global markets while they forge on establishing local and regional partnerships.”

The announcement of the enlistment of the 750 into the competitions came at a time when the Global Entrepreneurship Monitor, which studies entrepreneurs and entrepreneurial perceptions , had noted that the post-COVID-19 scenario is split into two kinds of start-up builders or entrepreneurs. The first set which predominantly are from the Americas, Europe and the Caribbean are “motivated to create a business to make a difference in the world.” The second set who are from Central/East/West Asia and Africa are driven “to create a business to build wealth and higher income. Overall, most are becoming entrepreneurs and take the risks for a living “because jobs are scarce, a result of which, of course, may – among other prevalent factors – be causally related to the pandemic.”

From the 750 engaged in advanced industries, manufacturing tech, smart cities, sustainable design, construction tech, smart materials, drone and robotics, and artificial intelligence, shall be chosen the best eight. These eight shall participate in the virtual accelerator programme wherein provided for each are “local incubation support and venture scaling.” The most innovative of the eight will take home the grand prize of $100,000 (Dhs367,320).