Sheraa's Sharjah Startup Studio To Help MENA Startups In Their Post-COVID-19 Recovery
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Sharjah Startup Studio (S3), the latest program by the Sharjah Entrepreneurship Center (Sheraa), is the first government-backed startup studio in the UAE. It is designed to build enduring businesses that will accelerate the region’s digital transformation.
In keeping with Sheraa’s "founder-first" philosophy, S3 is the first startup studio in the region to use a revenue-sharing model, with founders retaining full ownership of their businesses. This model provides founders with US$30,000 in pre-seed funding, and allows them to focus on building a high-quality product, achieving sustainable growth and profitability, while also creating impact.
Source: Sheraa Sharjah
“S3 marks an essentially transformative era for the startup community in the region, especially in the midst of an unstable funding ecosystem that continues to affect founders and their abilities to gain access to key resources to jumpstart their startups,” said Najla Al Midfa, CEO of Sheraa, in a statement. “Through our startup studio, we can now help founders build and launch sustainable, successful and profitable businesses. Our revenue-share model is deeply inspired by our founder-first ethos, which means that these startups will graduate not just investment-ready, but with their full equity intact. We are tremendously excited to share this journey with our founders, and co-build impactful, high-growth startups that have the potential to transform Sharjah, the UAE, and the world."
Startups in S3 will receive a host of benefits, including business incorporation in Sharjah and access to a state-of-the-art coworking space at the Sharjah Research Technology and Innovation Park (SRTIP). After graduating from the studio, founders will also have opportunities to raise follow-on funding, through Sheraa's investment partners.
Aspiring founders and entrepreneurs from across the MENA region are invited to apply for S3 through Sheraa’s official website here.