Sharjah launches ‘Seal the Deal’ program for university startups, raises AED 520,000

The Bay Today, Staff reporter

Sharjah Research, Technology, and Innovation Park (SRTI Park), the fastest growing science park in the region, American University of Sharjah (AUS), Invest in Sharjah, and Sharjah Entrepreneurship Centre (Sheraa) have launched “Seal the Deal” – a unique platform where student-led startups can pitch their proposals to leading business leaders, opening doors to seed investments.

The inaugural event took place on 19 September 2024 and was attended by Sheikha Bodour Bint Sultan Al Qasimi, Chairperson of SRTI Park, during a special session of the Sharjah Investment Forum, which featured high-potential startups from the American University of Sharjah presenting to a group of distinguished investors.

A platform for discovering innovative university startups

“Seal the Deal” offers startups investment opportunities as they pitch to experienced investors and prominent business leaders from the region. They will also benefit from mentoring from investors who will share their knowledge to help them refine their solutions and increase their chances of future success.

The Seal the Deal event will showcase innovative startups from Sheraa’s youth incubation programme Startup Dojo+, aimed at nurturing the next generation of talented entrepreneurs from Sharjah.

“Seal the Deal” is a meeting place for young innovators and investors.

The program saw the participation of 28 startups representing over 15 nationalities, with an impressive 50 percent female participation rate. During the intensive eight-week journey, these startups were equipped with essential entrepreneurial skills and real-world business knowledge through targeted training and mentoring, preparing them to pitch at “Seal the Deal” and strengthen Sharjah’s commitment to cultivating a thriving entrepreneurial ecosystem.

In total, the startups successfully raised an initial commitment of Dhs520,000. The startups showcased at the inaugural Seal the Deal event included:

• Ooladi: a comprehensive technology solution for parents, designed to enhance convenience by automating and digitizing parenting needs (investment of AED 100,000 from Adel Abdullah Ali, CEO of Air Arabia).

• LayoverBuddy: a travel technology platform that offers travelers personalized experiences during layovers, transforming how travelers spend their wait time (Adel Abdullah Ali and Mudassir Shaikha requested additional discussions prior to investment).

• Eshara: an AI-based Arabic sign language communication platform for the deaf and hard of hearing community (AED 100,000 in total: AED 50,000 from Najla Al Midfa and AED 50,000 from Hussain Al Mahmoudi, in addition to two undisclosed investments from Dariush Soudi and Edris Al Rafi, CEO of Invest Bank).

• Cicero: An AI-powered public speaking platform that empowers users to improve their presentation skills through intelligent feedback (implementation partnership with Sheikh Fahim Al Qasimi).

• NRSAssist: Real-time wireless monitoring system with predictive healthcare data analytics to provide proactive healthcare management solutions (Hussain Al Mahmoudi will provide prototyping support worth AED 70,000).

• BulBul: an educational platform dedicated to teaching conversational Arabic to non-Arabs, making language learning accessible and engaging (AED 100,000 from Adel Abdullah Ali, AED 50,000 from Sheikh Fahim, AED 50,000 from Jigar Sagar and AED 50,000 from Samar Al Sayegh).

Supporting entrepreneurs

Hussain Al Mahmoudi, CEO of SRTI Park, commented: “’Seal the Deal’ is not just a platform for pitching ideas; it is a meeting place for young innovators and investors, giving Australian-born startups a significant chance to succeed. Sharjah has become a benchmark in the UAE for supporting innovation, providing exceptional support to a wide range of innovative companies: from young startups to large technology companies.”

Al Mahmoudi also stressed that the event reflects SRTI Park’s commitment to providing a conducive environment for entrepreneurs and startups. This is part of the Park’s ongoing efforts to promote innovation in science and technology.

Nicola Bettio, Director of Innovation and Research Ecosystem at SRTIP, added: “Student-led startups deserve exceptional support, we need to take special care of the energy of these incredible innovators. Student-led companies are not academic exercises, side projects or hobbies; they are serious ventures that aim to solve real problems and generate impact.”

Dr. Tod Laursen, Chancellor of AUS, said, “At AUS, we are committed to providing our students with the opportunities and platforms they need to turn their ideas into meaningful ventures. Seal the Deal is a reflection of our commitment to promoting innovation and entrepreneurship by connecting our students with investors and mentors who can guide their entrepreneurial journey. This initiative highlights the important role AUS plays in shaping the next generation of leaders and innovators, providing them with access to opportunities that extend beyond the classroom and into the global marketplace.”

Sara Al Nuaimi, CEO of Sheraa, added: “At Sheraa, we believe in the enormous potential of young entrepreneurs to shape the future. Seal the Deal reflects Sharjah’s commitment to nurturing talent through mentoring and connections with investors. Our partnership with SRTIP and Invest In Sharjah reinforces this mission by creating a thriving startup ecosystem. Together, we are empowering the next generation to confidently pursue their entrepreneurial dreams and build a brighter, more innovative future.”

Mohamed Juma Al Musharrkh, CEO Sharjah FDI Office (Invest in Sharjah): “We are delighted that the Seal the Deal initiative was launched at this year’s Sharjah Investment Forum. Forums like this play a key role in driving initiatives that will shape the future of businesses and economies. As Sharjah’s investment promotion agency and a strategic partner to global investors looking to grow their businesses in the emirate, we remain committed to creating new avenues for growth. We are excited to see how this will serve student-led startups, providing them with the opportunities, mentorship and investors they need to succeed in Sharjah and beyond.”

Located in Sharjah, SRTI Park powers an innovation ecosystem that promotes research and development and supports enterprise activities through a triple helix of industry, government and academia collaboration.

Sharjah Entrepreneurship Center (Sheraa) has been instrumental in creating a seamless journey for entrepreneurs in Sharjah by building a holistic ecosystem for founders that takes them from the ideation stage to building prototypes and taking them to market. Through its two centers at the heart of the American University of Sharjah and the University of Sharjah, Sheraa has empowered over 18,000 young people through its Startup Dojo program, supported over 500 exceptionally talented founders in its community, and incubated over 180 ventures that have generated over $248 million in revenue, raised over $171 million in investment, and created over 1,900 jobs.