Sharjah’s RUWAD Reports 108% Jump in SME Funding in Q1 2026

Sharjah Foundation to Support Pioneering Entrepreneurs (RUWAD), affiliated with the Sharjah Economic Development Department, reported strong growth in support for entrepreneurial projects during the first quarter of 2026.

Funding provided to businesses in Sharjah increased by 108% year-on-year to AED1.5 million, while government procurement contracts awarded to member projects rose by 130.8% to AED2.3 million.

Hamad Ali Abdullah Al Mahmoud, Chairman of the Sharjah Economic Development Department, said the results reflect the increasing maturity and specialisation of Sharjah’s entrepreneurial ecosystem.

He noted that Emirati-led ventures are increasingly focusing on sectors including industry, innovation, advanced technologies, the green economy, digital services, and smart solutions.

Al Mahmoud added that entrepreneurs are placing greater emphasis on scalable business models that incorporate modern technologies and artificial intelligence to improve products and services and strengthen the competitiveness of national enterprises locally and regionally.

Fatima Al Ali, Acting Director of RUWAD said the foundation financed three projects worth AED1.5 million during the first quarter, compared to AED720,000 allocated to four projects during the same period in 2025.

She added that 137 new projects joined RUWAD’s membership network, including 91 commercial ventures, 45 professional projects, and one industrial enterprise.

Meanwhile, 82 projects renewed memberships for their second and third years to benefit from full exemption from government fees, while 38 projects extended memberships for the fourth and fifth years with 50% fee exemptions.

RUWAD also conducted 47 field visits to projects across Sharjah and the eastern region and added 13 new projects to the supplier register of the Sharjah Central Finance Department, bringing the total number of registered projects to 194 by the end of the first quarter.

The organisation provided 31 specialised consultations, handled 3,726 calls, conducted 122 interviews with entrepreneurs, and promoted 90 projects across its social media platforms.

Government contracts awarded to RUWAD member projects totalled AED2.32 million during the first quarter, compared to AED1 million during the same period last year. Seventeen new projects also secured spaces in business and commercial centres across Sharjah.

In training and development, RUWAD delivered nine workshops and programmes over 15 training days and 50 hours, benefiting 205 participants, including 165 female entrepreneurs.

RUWAD also signed a memorandum of understanding with Emirates Development Bank to strengthen financing opportunities for national projects and provide advisory and funding solutions supporting entrepreneurial growth.

The organisation continued its participation in community initiatives and events including the Sharjah Entrepreneurship Festival 2026, Mada Festival, the Ramadan initiative “From the Goodness of Our Pioneers”, and the Ramadan Village event organised by the University of Sharjah Alumni Association.