Interview: Sheikha Bodour bint Sultan Al Qasimi
How do you assess Sharjah’s progress in enhancing the entrepreneurial ecosystem, and which industries are poised for further activity?
SHEIKHA BODOUR BINT SULTAN AL QASIMI: Sharjah has made significant strides in strengthening its entrepreneurial ecosystem, and the rate of economic growth in the emirate has outpaced the global average following the Covid-19 pandemic. Sharjah is transitioning from nurturing early-stage ideas to fostering a robust portfolio of over 150 start-ups on their scaling journey, encompassing incubation, access to funding and mentorship.
Sharjah has one of the Gulf’s most dynamic start-up ecosystems, giving entrepreneurs the resources to make an impact. The UAE’s projected non-oil economic growth of more than 4% in 2023 suggests fertile ground for non-oil industries, supported by the initiatives of Shurooq and the Sharjah Research Technology and Innovation Park. We expect to see growth in advanced technology, artificial intelligence (AI), research and development (R&D), and the digital economy.
In what ways is Sharjah working to create an enabling environment for women to excel in business?
SHEIKHA BODOUR: Although the UAE has a female labour force participation rate of nearly 55%, there is still work to be done. The Sharjah Entrepreneurship Centre has predominantly female leadership, and some of the emirate’s most successful entrepreneurs and business leaders are women. At the corporate level, we believe that leaders should be better equipped with data that makes the case for female labour force participation. Corporations are often unaware of local nuances that can help source and retain talent, and do not recognise the value of supporting women in training, development and career opportunities. Positive working environments that provide child care, workfrom-home opportunities and flexible hours also help.
Building female talent pipelines is critical, and this is something that the American University of Sharjah and University City of Sharjah offer. The emirate has developed an ecosystem that connects academia to businesses through their physical proximity.
Where do you see opportunities to further strengthen the local knowledge economy?
SHEIKHA BODOUR: Sharjah’s vision aligns with the broader goal of positioning the Middle East as an innovation centre. Although the region has not fully tapped into R&D historically, recent advancements signal an era in which Sharjah can lead the way in AI and transformative technologies. The strength of the knowledge economy lies in pioneering solutions to global issues, from energy to food security, and even space exploration – areas in which the UAE is making progress.
Our strategic investment in creating centres of excellence is crucial to advancing local and global solutions. The achievements of local companies contribute to Sharjah’s competitiveness and pave the way for future innovation in line with the UAE’s long-term vision, preparing the next generation for the future. To what extent can foreign investors support human capital and technology development?
SHEIKHA BODOUR: Foreign investors are crucial to Sharjah’s development, as emphasised by the emirate’s success at the emirate and national level. The UAE’s growth in foreign direct investment (FDI) reflects this, and Sharjah has played an essential role in this increase. With its academic and research partnerships, University City of Sharjah exemplifies the successful infusion of international expertise into the local economy.
Sharjah offers investors strong incentives, and initiatives like NextGen FDI demonstrate our desire to attract digital businesses, and help them establish and expand their companies locally. This multi-sector strategy has laid the foundation for sustained growth in foreign investment within the innovation and human capital segments, a trend that we anticipate will continue.
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