Sheraa’s Success Story: Over $60M in Investments and Revenue in Just Three Years

MAGNiTT News 1 year ago - Mon, May 27, 2019, 6:36 AM

Sheraa’s Success Story: Over $60M in Investments and Revenue in Just Three Years
Author: MAGNiTT

Since its inception, the Sharjah Entrepreneurship Centre (Sheraa) has raised almost $37M in investments and another $24M in revenue. This is massive as all these were done in just three years, since 2016. Within this timeline, Sheraa’s 72 graduate start-ups have created 506 jobs in the UAE, proving their significant contribution to the economy of the country.

This grand platform for UAE entrepreneurs has also given $530,000 in grants to flourishing start-ups via the four fold programme module. This module provides help and support to startups on all regards. This month, Mr Draper, a men’s e-commerce store, won a grant of $50,000. His company’s mission is to make shopping experience better by connecting the customers with personal stylists who send outfits to the customer so that they can have a 5-day trial.

Sheraa’s CEO, Najla Al Midfa, said, “As Sheraa marks our third anniversary, I could not be more proud of how far we have come. Our graduating startups have come a long way over the past 12 weeks and we have no doubt that they will continue to have a positive impact on their societies and economies I am confident that we will continue to see tremendous growth, especially with the unwavering support of our partners and wider community.” Her statement was mentioned in Arabian Business.

Sheraa’s Ramadan Majlis is also collaborating with Expo Live for celebrating their participants’ success with a graduation ceremony.

This program helped start-ups to explore a diverse range of topics like pitch training, story mapping, market research, persona creation and mission and vision setting. It began in February this year.

The graduated start-ups of this program include: Mr Draper, Boksha, El Grocer, MintBasil, Tabeeby, Wimo and Hotel Data Cloud.


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