- 2 days ago
Check out this Inc. Arabia webinar that saw Abeer Al Ameeri, Director of Ecosystem Development at Sheraa, examine how the Entrepreneurs Resilience Fund was designed, the impact it has had so far, and why (and how) founders seeking support should engage with it.
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00:05Hello, everyone. First of all, and good afternoon. Thank you for taking the time out of your
00:10busy days to join this webinar. I should probably just start with an introduction. My name is
00:19AB Sam Thomas, and I'm the Editor-in-Chief of Inc. Arabia, which if you don't already
00:24know, is the official Middle East edition of the international media brand Inc. Inc. Arabia
00:29is published in the region by Havi Media Group, which is a UAE-based digital platform for media
00:35and advertising solutions targeting the entire media region. With offices in the UAE, Saudi
00:40Arabia, Jordan, and Egypt, Havi owns and manages a diverse portfolio of electronic portals with
00:45more than 20 million monthly users and over 100 million followers on social media. As for
00:51Inc. Arabia, we like to call ourselves a dynamic media platform that documents the most fascinating
00:56people in the region's vastness landscape. We call them the risk takers, the innovators,
01:02and the ultra-driven go-getters that represent the most dynamic force in the economies of the
01:06Middle East. Now, just based off that description, you know that entrepreneurs are clearly part
01:12of the audience that we aim to inform and inspire at Inc. Arabia, and that is why we are hosting
01:17this particular webinar today because, as you all know, across the region today, we are navigating
01:24an environment defined by uncertainty, be it with economic pressures, shifting marketing conditions,
01:29funding challenges, or even simply the emotional weight of building through instability.
01:34The challenge that entrepreneurs are facing is not just operational. It's also about how to think
01:41clearly, make decisions, and to keep moving forward when conditions remain uncertain.
01:47This is why we have launched this webinar series that we are calling Holding the Line,
01:51and the aim with this series is to bring together honest, experience-led conversations about what
01:58resilience actually looks like in practice. Today is the first episode of this webinar series,
02:04and in this episode, we are focusing on a very tangible example of support that has come up for
02:11founders in the region, and that is the 5 million Durham Entrepreneur Resilience Fund launched by the
02:17Sharjah Entrepreneurship Centre, or SHARA. At a time when resilience is often discussed in abstract terms,
02:23this fund offers something concrete, real support for founders navigating difficult moments,
02:29both financially and operationally. To help us explore that, I'm delighted to be joined by Abira
02:35Lamiri, Director of Ecosystem Development at SHARA. And before, you know, we get started
02:40on this conversation with Abir, just a couple of housekeeping notes. Now, this is a webinar,
02:46and yes, we are talking to you through the screen, but we want to make this as interactive as we
02:50possibly can. So we have kept the chat window open for you to communicate with each other,
02:55and we also have a Q&A box at the bottom of your Zoom screens where you can put in
03:00questions that you
03:01might have for myself or Abir about this fund and how, you know, it can potentially support you.
03:06We are going to be discussing the fund in detail through the course of this conversation. But yeah,
03:12put your questions in, and I will try to bring them up through the course of the chat, or perhaps
03:16even at the very end. But yeah, the point is to make this as interactive as possible. And I would
03:21also like to remind everyone that we are recording this webinar, and so we'll be sharing the whole video
03:27on Incaribia in a day of two times. So you'll have all this information available on our platform
03:33for eternity, basically. So, Abir, first of all, good afternoon, and welcome to this Incaribia webinar.
03:42Good afternoon, Abir. Thank you so much for having me. And it's a pleasure to be with you here today
03:46and to see you bringing the ecosystem together.
03:51Abir, you know, I personally have known Shira since it's launched in 2016. And I'm familiar with you
03:59too, since we have been interacting over the last couple of weeks. But, you know, for those people,
04:04perhaps in the audience, or perhaps who are going to be watching this video later in the week,
04:09can you perhaps just start by kind of like giving an introduction to Shira itself and talk about the
04:14vision behind its creation and how those founding principles are still defining it today, especially
04:21with initiatives like the Entrepreneurs' Resilience Fund? Of course. Thank you. So, as you mentioned,
04:26it's been a decade since the launch of Shira 2016 under the leadership of Her Highness Sheikh Abadur
04:33bin Sultan Al-Qasmi. And at the time when we launched, the objective of the organization was to
04:39build an entrepreneurial ecosystem. Where we were then and where we are today, we are in completely
04:46different worlds. We are no longer looking at building the ecosystem here in Sharjah. Rather,
04:51the UAE has taken this ecosystem as a responsibility to grow even further and even go into the global
05:01ecosystem. So, Shira, I think what sets us apart from other entrepreneurship centers is we are an
05:08incubator and accelerator, but we focus predominantly on the early stage startups, as well as SMEs. The
05:16majority of our work focuses on aspiring founders who are looking to build their businesses and
05:23supporting them and validating it, building their products, going to market. And of course,
05:29we also look at startups and SMEs that are already in the market, but they're still in their early
05:35stages. So, we support them there with accelerating them to grow, be ready for investment and be ready
05:44to scale, and then work with other ecosystem players in the region that could further support their growth.
05:50At Shira, we do see ourselves as one piece of the puzzle to the wider UAE ecosystem,
05:57where many founders tend to start with us. Their journey starts with us here in Shira, but then they move
06:03on to
06:04other resources that are available across the UAE so that they can grow their business. And there's so much support
06:10that founders in the UAE can lean on and rely on. So, it's, you know, it's really great to be
06:16part of this
06:17ecosystem and contributing to it.
06:20Let's talk about now the Entrepreneurs' Resilience Fund that you have just launched, I guess, maybe over a week
06:27ago now. But, you know, before we dive into the fund and what it's all about, can you talk about
06:32the drivers
06:33for it in the first place? Maybe, again, maybe this is a personal reflection for you as well, given what
06:39we have
06:39been experiencing in the UAE and, of course, the wider region, but especially for us here in the UAE. Can
06:45you talk about,
06:46like, you know, what has this last few weeks meant for you personally and for Shira and how that led
06:52to the fund?
06:53Definitely. So, at Shira, we are built on a founder-first ethos. Everything we do has the founder at its
07:02core
07:03and we continue to tell our founders, consider us as your co-founder. So, anything that you would go to
07:09your co-founder too, you can come to Shira. And when the crisis first started, obviously, everyone
07:15was initially concerned about safety and then thinking about the future and what that looks like.
07:21And for us, you know, you have us as individuals, but we are part of an ecosystem where our founders
07:26were reaching out to us. And what was actually really interesting at the time is we knew that
07:32everyone was navigating uncertainty at the time. No one knew what the next day would look like.
07:39And while they were coming to us and asking us, is there anything that, you know, you're offering in
07:45terms of support for founders, the founders were coming to us saying that we want to support other
07:50founders in our ecosystem and in our community. And honestly, it was something we didn't expect,
07:56but at the same time, it was expected. It was, it was really, it was an interesting place to be.
08:01And it was the same for the business community. So, as we were, you know, raising funds from our
08:08partners, this fund is not established solely by Shira. It's actually completely built on community.
08:15We had businesses and corporates and governments who were being impacted by the current events.
08:21And they were the first people that were putting their hands forward and saying,
08:25we want to be there to support this ecosystem. And then we had startups and SMEs and, you know,
08:31individuals like yourself that are also contributing to, to this fund to support this entire ecosystem.
08:40Yeah. So I think, yeah, sorry, go ahead.
08:43Yes. So I think one thing that also came up to us was it wasn't completely unchartered waters.
08:51We did recently go through COVID and that was, you know, it caused major disruptions across,
08:58across the entire value chain of business in the UAE and in the country and the, in the region.
09:06But what stood apart or what made this time different is that we were impacted both digitally and
09:14physically. And this is where I think, you know, most organizations and startups and SMEs,
09:21were feeling the brunt of what was happening in the region.
09:25Yeah. One of the things that you mentioned, and I think, I think it's something I personally
09:30noticed as well, is like when the crisis started, you know, we had inquiry, we were like,
09:36okay, we need to kind of support the community. And we just started, like, I think we listed like
09:42five or six things that we just saw that was being offered, like you said, by startups, by founders,
09:49by companies to just kind of support the ecosystem. So my managing editor, Yasmin Azmi is on the, on the
09:57attendees list. She will share the link on the chat group, but it was just a list of initiatives that
10:03companies. And we just thought, you know, it would be five articles, five lists. But what was interesting
10:09about it was that the list kept growing. We just kept adding to it. And we saw all these different
10:14initiatives by different organizations, like really large ones, like, you know, the Talabats and, you
10:20know, the Majid al-Futemes of the world, but also like startups as well. You know, we have seen so
10:25many
10:25of Sharjah, I mean, Sharjah startups as well, like contributing, be it with like, maybe like a webinar
10:30like this, but even with actual like financial support, like Alain and Zina came out with actual
10:36financial support packages. So I think that is the idea of this ecosystem coming together. And I think
10:43that is also one of the, for me at least, one of the most interesting aspects of the Entrepreneurs'
10:48Resilience Fund was that it was not just a Sharjah activity, it was a Sharjah and partners activity.
10:53Can you, again, talk about the fund and how it came together in the first place? And,
10:59you know, again, it comes up with this amount of, you know, five million dirhams, but, you know,
11:04talk about, it's not just about, you know, financial support. There's a lot more into it. Can you just
11:09like maybe delve into it a bit deeper for, again, the founders and operators in our audience?
11:14Of course. I think what's also interesting is founders are not all looking for funding. Many of
11:20them, of course, their businesses have been impacted, whether it was infrastructure or reduced,
11:26you know, customers or impacted by the logistic and supply chain disruption that has been taking place
11:33and the charges that were, you know, adding on and on and on because of that single disruption.
11:39The fund looks at businesses from a holistic perspective. So, yes, founders are eligible to
11:48receive cash funding. But along with the cash funding, we are supporting them with giving them
11:53access to experts that could support in their business operations. We're giving them access to
12:00BD support. So supporting their sales however possible through our network. And we have a quite a vast
12:06network of over 200 partners here in Shira that are across the country, as well as access to
12:15marketing opportunities. So many founders, you know, they, what's been interesting about specifically,
12:22if I talk about the supply chain and logistics disruption is that there was suddenly a gap in
12:27international brands finding their way to our markets where they previously were. And this actually
12:34was a very organically paved way for local businesses to come and naturally fill that gap,
12:39right? But many local businesses were not known. So this is where the marketing element is coming in.
12:49And it's been actually one of the biggest asks that we've been receiving from the founders. So in terms
12:56of the fund, we've had, you know, contributors, the likes of Crescent Enterprises, BIA, Alain,
13:04Flowers, Kareem, likes of Public Seas Group, Majdik Fatim in Arabia, Emirat. We have entities such as the
13:14Sarja Research Technology and Innovation Park and the Sarja Economic Development Department that are
13:19supporting with waivers, fees, restructuring, and so on. So it really is looking at this full
13:28way of supporting the founders. We're also running weekly webinars. I think, you know, the topics really
13:37are, they range. So one is how can you manage leadership and the team during the crisis? Another
13:45really interesting one that we recently hosted, and I think I didn't expect to see that many people
13:52join in, was on how to make the switch now that your founders' kids are online learning and they're
13:59at home. So suddenly you're running a business and you're running your school's education, your kids'
14:04education all of a sudden. So how are you managing, you know, parents amidst this crisis? So it's really
14:10looking at, you know, the founder as a starting point, but then everything around them and what
14:16makes, what can we do to ease their lives and their business at this time?
14:23So in terms of, you know, the audience that the entrepreneurs, resilience funders catering to,
14:29are there any caveats? Like, what are you looking for? How do you, what are you expecting from the
14:35applications maybe? And again, for people, I've already seen a couple of questions come up and like,
14:40what happens after you apply? What's the process like? Yeah, maybe you can shed some light on that
14:45as well. Definitely. So the fund is open to everyone in the UAE. We do prioritize charger-based
14:53businesses as well as startups and SMEs that have been supported by Shira in the past 10 years.
15:01In addition to that, you would need to have been operating for a minimum of one year
15:06and to show actually healthy financials prior to the crisis. So we're stepping in to support you during
15:14this period of disruption. But we're not, you know, we're not looking to save anyone that wasn't already
15:22doing well. We are looking at the businesses that were more resilient. For those that are looking
15:29for additional support and maybe might not fit our criteria for this fund, Shira is still there.
15:35We are still offering support outside of this fund and our doors are always open. In terms of the
15:42application process, so once you fill your application, we do go through standard due diligence.
15:49There are documents. There are documents that we require, statements, financial statements that are
15:54reviewed. There would be an interview between our team and the founders just to understand their case
16:01better. And then those that are shortlisted are presented to the investment committee who will make
16:07the final decision on who will be selected to receive support.
16:13In terms of the response you've had so far, Abhi, what has stood out to you? Like what has,
16:18what would you, I mean, the question is really like what has been, you know, as expected,
16:23but what has also surprised you about like what has come through and the kind of asks
16:27that founders are making at this point in time?
16:30So we expected that the majority of the asks would be a lot of financials, but we realized that, yes,
16:38the asks are still financial, but they're beyond that. And, you know, it's really for business support,
16:45supporting their operations, supporting with raising their, whether their inquiries or requests to
16:52government, for example. So we are facilitating those kinds of, those kinds of support as well.
17:00I think what's, what's been most surprising is the various stages of startups and SMEs that have
17:08been applying to this fund. So we have, you know, startups that have just, you know, been operating
17:14for a year and quite small versus a couple of, you know, prominent homegrown brands, local brands
17:22that are well-known in the community, but also they've been impacted and are looking for this, for this
17:27support. So it's, yeah, it's been, it's been interesting to see the range of businesses that
17:33are, that are, you know, being resilient and they know that they just need some support to push through
17:39and make it past the stage.
17:42I'm just going to pull up a question from one of the audience members, Pierre Pontes. He, he, he wants
17:48to
17:49know, like, again, when can they know about the status of an application? How would you, like, what's the
17:54process or timeline that he can expect? This is from Pierre Pontes. Thank you, Pierre, for your question.
18:01Sure. So it would take approximately three weeks if we're able to conduct all of our due diligence and
18:06our communication is quite smooth back and forth.
18:09Yeah. Okay. So going forward from there, Abir, one of the things that you mentioned, and I think
18:17it's interesting to talk about this angle is the fact that, you know, you're looking at it like from
18:21the financial and operational support, but you're also looking at it from an emotional angle because
18:26like you mentioned, and I think it's something we need to talk about, you know, when, you know,
18:31online schooling was happening. Yeah. They were tackling two different worlds. What are the kind of
18:36feedback or like, how have you been trying to support them? Like, this is not really a financial
18:42kind of support, right? Like how, what are the kind of conversations you're having and how is that,
18:46you know, playing into how share our positions itself also in this landscape?
18:52I think what, what founders are mostly looking for is a safe space to speak and share and learn from
19:01each other. So we do provide that. We do facilitate that with all of our sessions.
19:07I mean, at the end of the day, we're all human and we all want to know that we're not
19:11in this alone.
19:11And that's what I'm experiencing. Someone else has experienced and they've overcome it.
19:16So really being able to facilitate that space. And at the launch of, of the fund, we actually hosted
19:24a round table with, with a few founders. And there were a couple of themes that were coming about,
19:31which, you know, it was really interesting. The first was, everyone was talking about protecting
19:37your core. So during crisis, for example, one founder was talking about her core being her
19:43team and her best-selling products. For another, it was the community relationships that they've built.
19:48For another, it was the client trust. Another thing is that there was so much, at least through the
19:55founders that we typically work with, there's so much focus on community, even prior to the crisis,
20:02that it's actually that same community that they've been building and investing in over,
20:06over all these years that have come back and supported them during this time without it costing
20:12the businesses anything. And then finally, like I mentioned earlier, is the fact that international
20:18brands were kind of pulling back or had limited access to our market. It was really an opportunity
20:24for founders that are based locally to shine. And one founder specifically was talking about how
20:32over the past few years, they kept knocking on a certain retailer's door and they kept getting rejected
20:37because they wanted the bigger international brands. And as this happened, you know, they were
20:42like all pride aside, we knocked on their door one more time. And this time around, they went for us.
20:49And in the period of a month, they actually had the highest sales amongst all the brands that were in
20:54that retail store. So it's, it's, you really need to see the opportunity and the silver lining
21:00in, in everything. And I think, you know, it's not just that it facilitates these kinds of environments,
21:05but the UAE as a whole is so proactive when it's, when it comes to supporting.
21:12I think this is, again, absolutely true. There is this notion, if you want to say it, like, you know,
21:19comparing like what we've seen from mostly Western media outlets, I say, that, you know, our business scene
21:24is impacted and we are not, you're not denying it. Of course, we've been impacted. But what I think is,
21:31or what we have been trying to tell the story of at in Caribbean, at least, it's like, yes,
21:36we have been impacted, but it has not stopped. You know, we're still seeing funding stories. Like,
21:41again, Her Excellency Nazareth Mitva, vice chairperson at Shara, she's also leading Emirates
21:48Growth Fund, as you know, and they led like this amazing investment in a homegrown, you know,
21:53food enterprise called Carnistro. Again, that was a huge deal for those of us who have been in the
21:59ecosystem for a long while to see a homegrown company get this kind of support from a national
22:04organization. And this is just one example that we, again, if you go to our inquiry website,
22:09you'll still see there are a lot of those funding stories happening and that business is still going
22:14through. And one of the things that you mentioned, and I really would like to, you know, double down
22:19on it, is this idea that, you know, and it's actually something you said that reminded me of
22:26what Faris Ghandur from Wamda Capital. Again, he, we were doing this article series about like how,
22:33you know, what founders can do to get through this crisis. And we went around asking like a bunch of
22:39venture capital investors from across the region, asking their advice, like they've seen this before,
22:45what is their input on it. And interestingly enough, what he said was like literally a
22:50repetition of what you said. He said, you know, there's a reason you decided to build in the MENA
22:55region. Now's the time to double down on that conviction. Others may leave, but that leaves you
23:02the bigger slice of the pie. And I think that is something that we actually really need to remember
23:06that yes, while this is, you know, causing other people to run away, that gives us opportunity for
23:13those who are staying here to actually double down and make an impact. Is that something that you can
23:19talk to again, maybe with conversations you have had? And again, like you mentioned at the round
23:24table that you had, like just over a week ago.
23:27A hundred percent. I think, you know, it's, what's interesting this time around is the customers and
23:36businesses are realizing that it's not only the, you know, the non-local businesses that are not
23:44here, but actually the ones that are here, it's home. They're not going anywhere and thick or thin,
23:52they're here to stay. So what we've been seeing actually is a lot of businesses are now looking at
23:58local manufacturing, even though it is more expensive. Uh, but there, there's been a mind
24:04shift to, to really think about, you know, reinvesting back into the country and into the
24:10people who call this place home. Uh, so we've, we've been seeing a huge shift in that even through
24:16our startups, uh, who many of them have been manufacturing in China or in India. Uh, they're
24:24now looking local because it's their local peers that stood by them and they see that. Right. So
24:29there is an emotional tie to it as well. Uh, they're here to stay. This is home. And, uh, I
24:36mean,
24:37we're now at a stage where, where brands are growing out of here. Uh, it's, uh, it's, it's a market
24:42that's resilient, uh, it's supported and it's, it's just, you know, ready for growth regardless of the
24:50circumstances. Okay. I, I, uh, I would like to go back to the questions again, just to keep it
24:56interactive. And again, um, a question from Muhammad Osman. Um, and you know, the idea, the question is,
25:02I think this is a fair question for any incubator really, but, uh, his question is about like, you
25:08know, what is Sharaa or maybe the Entrepreneurs Resilience Fund can it do for an idea for a, for an
25:16enterprise? It's a project that hasn't come to life yet, but it is a full idea. He says that is
25:20ready, but needs funding. So what kind of support can they expect from Sharaa per se, or even the
25:26Entrepreneurs Resilience Fund? So we are launching a new initiative in the next two months. I would say
25:33stay tuned. Uh, and this would support founders. Uh, it's the end to end journey from ideation all the
25:41way through to scale and supporting you in getting your first million dirhams revenue. So, uh, uh,
25:49through this initiative that we will be launching, you'll be able to get full support in terms of,
25:54uh, expertise, access to our network, access to markets, access to different business clinics,
26:00uh, and the community. Uh, Abir, can you also talk about like, again, um, you know,
26:08I really want to mention this because of all the, you know, the entrepreneur support initiatives that
26:14we have in the UAE, I think Sharaa, and I speak from my experience of watching Sharaa over the last
26:1910 years, is that Sharaa is always happy to talk to the ones with just ideas. Can you talk about
26:24that
26:24mindset? Like, why is that important for Sharaa? And, you know, go, and it really goes back to when
26:30you started out at AUS, uh, at the American University of Sharjah. So maybe you can detail that a bit.
26:35So
26:36my point is, I don't want them to feel fearful of reaching out to Sharaa because Sharaa is meant
26:42for these conversations. So yeah. Exactly. Exactly. So we do focus on early stage, as I mentioned
26:47earlier. Uh, there is a lot of talent in the UAE. People have great ideas, but there aren't that many
26:55places that they could take their ideas and help refine them, validate them, and actually build them.
27:01Uh, so at Sharaa, I think we're, we're very grateful to be under, uh, a visionary and joint
27:09leadership. So Her Highness Sheikh Abadur bin Sultan Al Qasmi, uh, is also the president of the American
27:14University of Sharjah, as well as the Sharjah Research Technology and Innovation Park and our
27:18chairperson. So it really is that full ecosystem that we have access to. There is access to talent
27:24through the pool of students. And while we started at AUS, it was just the start. Uh, we do now
27:30cater
27:31to, to students across the country. Um, they come to Sharaa, they're able to build their ideas with us
27:38and access the research park who were in the same building. Uh, they have a fab lab where you can
27:44actually build your prototypes. Uh, and then once you build your prototype, again, we support with your
27:50go-to-market strategies, uh, and, uh, and help, help your business start and launch, uh, and, and grow.
27:58Uh, we are looking to complement the entire ecosystem. The, the other entrepreneurs,
28:04entrepreneurship centers, uh, in the UAE all targets different stages. And I think that's the
28:11beauty of this country is that there's something for you, regardless of, of what stage you're at.
28:16And for us, our pro primary focus, our early stage founders and aspiring founders.
28:22So, uh, we, like we had in Caribbean had the pleasure and privilege of like having, uh,
28:28Sheikha Badur, uh, on the cover of the magazine. We had the interview. Yasmin will probably share
28:32the link in the chat window if anybody wants to read. But one of the things that was interesting
28:37that came out of this interview was, you know, it was this ecosystem that is sort of like connected
28:43to each other. So it's the AUS and you have the Sharjah Research Technology Park and you have
28:47Sharjah and that ecosystem is kind of like self-working and like one feeds into the other.
28:53Um, and that kind of also brings it to this focus on community. Um, I think, you know, we've been
29:00talking about community a lot and we see a lot of that being shared on social media, um, um, and,
29:06you know, other kinds of channels during this period. But, uh, can you like, I don't know if this is
29:12something you can talk to, but, you know, can you talk about the importance of this? Why is this
29:16kind of collaboration and community important? Not just like now, but in a long-term aspect,
29:23but maybe more so now, given the situation we are in, can you talk about that aspect? And even
29:27I saw it for myself when I was at the round table, but yeah, maybe you can talk about that.
29:32So the
29:32founders understand what is the importance of having these connections. Yes. So, you know, first and
29:38foremost, again, it comes to the, the feeling of knowing that you're not alone. The founder's
29:43journey is a very, very lonely journey. Uh, typically the, the founder profile that we know
29:52are individuals that are obsessed with what they want to build. And if you're obsessed with
29:58what you want to build, you are most likely laser focused on that. You don't have time for
30:05a social life. You don't have time for, you know, so many things. It just takes up your,
30:09you're obsessed. Uh, and, and, and that's why these are the founders that end up being
30:14successful is because they know exactly what they're looking for. They know what they want
30:18to build. They are obsessed with a problem that they want to solve, uh, and finding, finding
30:23that solution for it. So bringing them together, uh, allows for that sense of relief and a place
30:32to release and know that your worries are shared. And there's just something so humbling
30:38about that to know that you're really not in it alone, even though you might be in it
30:43alone, especially if you're starting, typically you're a solo founder or you have one co-founder,
30:48but you're both focused on very, very different things. Right. Um, so there's, there's that community
30:54where it's your community of founders. That's really important, uh, to build and know that you
30:59can rely on them. They are your biggest asset actually. Uh, when we run our accelerator
31:06program S3, the founders typically graduate from our program saying the most value I've
31:13received. And, and through that program, they've received access to partners and received access
31:16to procurement opportunities and receive access to learning and development and leadership
31:21opportunities, but they come out saying the most valuable thing was meeting peers and cross
31:27sectorial, you know, they don't have to be in your sector, but the collaboration that comes
31:31out of it, the innovation that comes out of it is just so valuable. Uh, and then second
31:37to that, uh, second, some people would even put it on the same, uh, on the same level would
31:42be the, your community of your followers and your customers, uh, who actually believe in
31:48you, uh, and believe in the solution that you're providing. And they're the ones that's,
31:53you know, they have your back regardless of, of what happens. And that's what we saw actually
31:58recently with the, with the crisis is, um, interestingly, a lot of the SMEs in Sharjah
32:06were not as impacted in terms of football, uh, because of their, their customers.
32:13They knew each other, you know, they know, they go to this, uh, coffee shop, the founder
32:19will be there. They'll strike a conversation, uh, people that they're familiar with are
32:24there. It's, it's a community, uh, and, and they'll, they'll come back.
32:29Yep. And I, I think, again, this is what I'm saying. Like people think the same way. And
32:35it's nice to hear you say that as well. Uh, and this idea of the, like, I I've always maintained
32:39it for myself. It's something my CEO, uh, at Harvey also says, like, have that conversation.
32:45Like, even if it is with someone totally not in your field, just have that conversation.
32:49You're not losing anything. Um, at the worst case, you know, it's a connection on, I don't
32:54know, LinkedIn or Instagram, but at the best case, it is something that they will remember
32:58in the longterm. And that's why you need to have those conversations. Um, this next question,
33:04which has come up, uh, is actually a connection I made like that Mandy McMahon. She, I, I know
33:09her, uh, she's an entrepreneur. She works in real estate. Uh, she runs Dubai based, uh, flower
33:14shop. She has actually also contributed to, uh, in Carabia, uh, as a, as an op-ed for
33:20her. Um, I know that she, uh, she has been running a business and her business has been
33:26impacted, uh, against this current climate. Um, her question is, uh, I guess the question
33:32is like, what is the Sharjah versus the rest of the UAE when it comes to the support that
33:38Sharjah is offering through the Entrepreneurs' Residence Fund? So her question is like, for
33:43her as a Dubai based brick and mortar, and of course, an online component, of course, what
33:49is that opportunity to communicate with you and why should she do it? I think that's the
33:53question underlying what she has said, but yeah, maybe that's a question for everyone.
33:58Yeah. From a personal perspective. Uh, so I was born and raised in Abu Dhabi and I worked
34:03in a few entrepreneurs. I worked in the entrepreneurship space there. Uh, I live in Dubai. I've lived in
34:11several countries abroad and coming to Sharjah, although I'm originally from Sharjah, uh, but
34:16coming to Sharjah, what I've noticed, and I noticed this honestly from day one, it's personal.
34:22Yep.
34:23It's, it's a personal relationship. You, the moment you know Sharjah, you know someone there,
34:28you know, they're an advocate for you. You know that you could pick up the phone, message
34:33them, email them, whether it's, you know, uh, someone junior or you get in touch with, uh,
34:38her excellency, Najla, you're connected and we will do everything that we can to help you.
34:45This founder first ethos is, you know, the entity was built on it. The, the team here
34:51really believe in it. Uh, I really would encourage anyone just to even just step up to our doors,
34:59come say hello. Um, even if you, you know, you don't need anything per se, uh, but we're always
35:06here to support and happy to build relationships. Uh, you might not need us today. You might know
35:12someone that would need us a year or two down the line, or you might come back to us when
35:16you're
35:17looking to build something new and we'll always be here. Uh, and with respect to the fund, again,
35:21I'm just asking for Mandy here, like, is there a focus for like, what can Dubai based businesses
35:27expect or how can they, uh, take advantage of the fund or like hope to get that support from
35:33the fund? So, uh, in terms of, I mean, they could still apply. Uh, it's just a matter that, you
35:38know,
35:39we do prioritize sergeant based businesses, but it's not a deal breaker. We are looking at every
35:43application on a case by case basis. And then we have our other support mechanisms, such as the
35:49weekly webinars, which we're running, which are open to everybody as well. Yeah. Uh, here's another
35:54question that has come from Pierre himself. Uh, I mean, I know you've talked about the input,
35:59uh, like the webinars, but like, are there in-person events being organized or are you
36:04looking to add what have you seen that? And maybe again, from what you've seen in the ecosystem at
36:08large, are there more in-person things happening? So we are planning a few, uh, our biggest takeaway
36:15from an organizational perspective from the round table that we hosted, uh, two weeks ago is that
36:22founders were looking for sector specific round tables, uh, as well as stage specific round tables.
36:28So we're currently, uh, in the midst of planning that. So if we plan for, let's say, uh, an F
36:36and B
36:36round table, there would be two that would happen at the same time. One for those that have been in
36:41the business, let's say over five years, another for those that have been there for, for a shorter
36:45period of time. Just so again, there's, there's the opportunity to build these relationships with
36:50people that are going through the same or similar situations as you are. Can I ask a question? And this
36:56is something I get on my Instagram DMS. It's like, you know, there is this notion that founders and
37:03entrepreneurs, I've noticed this often. So we have all these initiatives that are, you know, launched
37:08and open, but they don't actually make the effort to apply because they think they are either too small,
37:14they're not fit, they are not good enough, you know, others, uh, more deserving than them. Like
37:20there's like a hundred different reasons they will have, uh, for not applying. And I always tell
37:25them just apply. Uh, yeah. Can you talk to that? Do you see that often too? A hundred, a hundred
37:31percent. Uh, we get people that, I mean, we run the region's largest entrepreneurship festival
37:37and we have people that, you know, come up to us and say, I've been coming to the festival for
37:41years.
37:41It's been like three or four years I've been coming and I'm so inspired to start, but I,
37:47you start hearing and feeling doubts and they don't even know how to continue their sentence.
37:51Yeah. And we say, why? And they're like, I feel like I'm not ready, but unless you actually
37:55try, you'll never be ready. Uh, you need to go on it. And this is, I think a lot of
38:01aspiring founders
38:02and founders get stuck here. They don't want to put themselves out there until they've reached
38:08perfection. There's no such thing as perfection. You will get there and you will realize, Oh, I could do
38:14better. Yeah. You will do better. Yeah. It's like the, it's like the, you know, again,
38:19this is the entrepreneurial culture story. If you're not embarrassed by the first thing you put
38:22out, you you're probably like late already. Yeah. All right. I think we are, we are running out of
38:31time, but, uh, I kind of want to like close on a, not a, uh, uh, you know, uplifting note,
38:38but like a
38:38note towards the future. Right. So first things first is like, you know, we still don't have an
38:45end to this crisis. Like we, we don't have an end. Nobody has a crystal ball. You're all hoping
38:50and, you know, praying for the best and that's understandable. And we understand that. Uh,
38:55but for you again, from, from maybe a personal perspective and maybe from a Shara perspective as
39:01well, what keeps you going and focused on the UAE and maybe even the wider region as a place to
39:11do
39:11business, what has given you confidence and why should that confidence be shared by again, uh, the
39:17people who are running and doing business here in this country? Honestly, like first thing that comes
39:22to mind is leadership. The leadership that we have across the entire country is unheard of anywhere else
39:30where, you know, they are, we were in the middle of the war, but who, who felt that they were
39:36actually
39:36in the middle of the war? You know, I, I, you were going to the malls, you were having your
39:41coffees, you
39:42were having your runs on the beach. Well, you won't find that anywhere. They, they are protecting us so
39:49much, but also making sure that we're protecting each other and we're standing side by side with each
39:55other. And this culture, you don't find in other places. This is really unique to the UAE.
40:00Uh, and what we've seen, and it's not, it's not just now, I mean, this is even
40:0550 years, 60 years, you know, for as long as, uh, we've existed here, we've been known to
40:12go through harsh conditions. It's not new to us. We're a very resilient nation, very resilient
40:18community, and we're a community. This is something that, you know, you're not in it alone. Uh, despite,
40:25uh, the fact that we saw that a lot of international investments were known, you know, slowing down,
40:32uh, in terms of how they were, they were reaching our, our founders and VCs, negotiations were in,
40:39discussions were all slowing down. We did see an increase in local investments. You know,
40:44as you mentioned, EGF was one of them, uh, but there are many others. So that, that, I mean,
40:51for me, that would be all the reason. And the UAE is constantly putting together policies and
40:57regulations that enable business. Uh, we were at make it in the Emirates, uh, just, I think it was
41:04last week. And, uh, you know, one of the ministers was talking about how, you know, here we are
41:12yesterday, we're being attacked, but today we're talking business. And this is exactly what the
41:17UAE does. And they are there listening to founders directly. How can they solve their pains? Uh,
41:24it's again, it's not something you would see in other parts of the world.
41:28So, and like you mentioned, and I speak this again, I keep repeating this because I
41:33really do think it is a problem. Like it's literally a matter of like going up to the
41:39door and knocking. That's what it is. And if you want to have a conversation about, again,
41:44as a founder, starting from the very idea stage to, I don't know, more established,
41:48I always say, just go to Shara, have a chat, you know, just see what they will say. But I
41:53think it's
41:53just that intention of actually, you know, making that effort to, and actually saying, hello,
41:57Hey, this is what you do. And I also would like to add, like, don't expect it to be
42:03offered to you on a silver platter. No, you still have to do the work. It has to be a
42:07value-based
42:08exchange. Otherwise it doesn't work. So keeping that in mind as we go through this, uh, crisis is,
42:15is something, um, that we should all definitely keep in mind. Uh, I'll be one more question relating
42:20to this. And again, this is more because of, in response to what should I say, the coverage we
42:27have been seeing, uh, from a lot of Western outlets, again, in, in majority, what is your
42:33response to those who are looking at us from the outside? You know, they're looking at us and
42:38they're like, you know, maybe like dismissing us or thinking like, okay, this is done. The story is
42:43done. You know, we've seen a lot of those and I just like, you know, swipe away because I'm like,
42:48there's no point. Exactly. Do just that. Swipe away. I'm like, I don't need to, to read what
42:57they're saying anymore because it's so untrue. Yeah. But there is no point in spending time
43:05listening. But, but is there a response you would give like, uh, to them, like people who are looking
43:10at the ecosystem and thinking like, you know, what is, what would we say is like the biggest
43:15misunderstanding they have of our entrepreneurs, our founders, our ecosystem. Yeah. Yeah. I think,
43:23uh, one thing is they think because the local, the Emirati population is so small and the, the larger
43:29population are expats and the moment something like this happens, everyone flees, but that, that didn't
43:35happen. Right. Everyone stayed. Um, like I mentioned, you become, you're just, you become part of this
43:43community. So it's, uh, I mean, really we, I would, I would dismiss them and I would tell them, speak
43:49to
43:50us, uh, get your facts, right? Yeah. Speak to the people on the ground. Final note, uh, Abir, um, like
43:58again, just in terms of the Entrepreneurs Resilience Fund, can you talk about what comes next? Uh, and
44:02again, uh, maybe a note to the people, uh, in our audience. And of course, who are going to be
44:07seeing
44:07this video on our website? Like what should they do? What can you offer in terms of advice? And,
44:13you know, even in terms of the applications, what can they do to make sure that application stands
44:18out and, you know, gets the attention it deserves? Definitely. So, uh, we, we're just about to close
44:24out our first cycle, uh, for the applications. We'll be making the announcement on who the grantees
44:30are in the next, uh, few weeks. Uh, but today we are launching our second cycle. So applications are
44:36open again, uh, for those that are interested, please apply and please share your full story.
44:42Uh, another, another webinar that we've offered, uh, or we've ran recently was on storytelling and
44:49sharing your founder story. It's so important to bring this human element, uh, to your business.
44:56So I would say whoever is filling the application, do that, talk about yourself, talk about the impact
45:01of your business, uh, what it's done to the, you know, to the, to the community, how it's impacting
45:07the business economies here in the UAE. Um, and, uh, inshallah, if, uh, if you, if you fulfill all
45:15the criteria, then there's no reason not to get supported. Um, I'm going to ask Ismeen to share
45:20the link. I think it's shara.ae slash ARF, but, uh, she'll share it on, on the chat window once
45:25again for, uh, everyone to keep in mind. Um, and again, this is the recurring question, Abir,
45:31like what is the best way to stay in the loop with what, uh, Shara does? Like for me, the
45:36answer is
45:37very clear, but yeah, I want you to say it rather than me speaking on behalf of you.
45:42I'd say follow our Instagram account. Uh, we keep up to date with everything there. I'm also happy
45:47to share my email. I could drop it in the chat. If anyone wants to reach out, uh, always happy
45:54to,
45:54to talk, to support and, uh, and connect. Uh, Moise, if you're, uh, if you're still with us,
46:00can you just share, uh, Abir's, uh, Shara email on the group? Again, this is an actual question that
46:05has come up. Like how can I get, who is the person to reach out to? And Abir, I thank
46:10you for being so,
46:11uh, open and, you know, willing to connect directly with people who are reaching out to him. Uh, Abir,
46:16thank you so much for this conversation. Thank you for taking the time. Anything else you would
46:20like to add? Anything else you want to mention that we haven't talked about already?
46:24Thank you, Abir. I think we've covered everything today and it was such a pleasure to speak with you
46:29today and giving us this platform to share the support that the community is, uh, is bringing
46:33forward. Thank you so much, Abir. Um, and to everyone who has joined us and to everyone who will be
46:39watching us, um, on the Inc. Arabia website, uh, thank you for taking the time out. We are hoping to
46:44do
46:44more of these webinars, um, as part of a series that we're calling, uh, holding the line. Like
46:49Abir mentioned, uh, you know, just stay tuned to our social channels. We are on LinkedIn. We are on
46:53Instagram. We are on Twitter, uh, X rather. Um, yeah, just keep, uh, uh, keep us in the loop. And
46:59as always, like Abir mentioned, we are just an email away. You can find our emails directly, uh, on the
47:05magazine. Our magazines are online. Everyone's emails is there. So yeah, we are just an email or a DM away.
47:10Um, the only thing is to literally, uh, send that first message and, you know, see how we can help.
47:16Cool. All right, everyone. Thank you for sending you the time out. And yeah,
47:20looking forward to welcoming you again on another session very, very soon. Thank you.
47:24Thank you. Take care. Thank you.
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