Sharjah launches 'Seal the Deal' for varsity startups, raises Dhs520,000

Gulf Today, Staff Reporter

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

The launch took place on September 19, 2024, attended by Sheikha Bodour Bint Sultan Al Qasimi, Chairperson of SRTI Park, during a special session of the Sharjah Investment Forum, featuring high-potential startups from the American University of Sharjah, pitching in front of a group of prominent investors.

A platform to discover innovative university startups

'Seal the Deal' provides startups with investment opportunities as they pitch to seasoned investors and prominent business leaders from the region. In addition, they will benefit from the guidance of the investors who will share their expertise, helping them refine their solutions and increase their chances of future success.

‘Seal the Deal’ is set to feature a lineup of innovative startups from Sheraa’s Startup Dojo+ youth incubation programme, spotlighting the next generation of entrepreneurial talent in Sharjah.

  Seal the Deal' is a meeting point for young innovators and investors.

The programme included 28 startups representing over 15 nationalities, with a remarkable 50 per cent female participation rate. Over an intensive eight-week journey, these startups were equipped with essential entrepreneurial skills and real-world business expertise through targeted training and mentorship, preparing them to pitch at ‘Seal the Deal’ and reinforce 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’ included:

• Ooladi: An end-to-end parenting technological solution designed to enhance convenience through the automation and digitisation of parenting needs (Dhs100,000 investment from Adel Abdullah Ali, CEO, Air Arabia).

• LayoverBuddy: A travel tech platform offering customised experiences for travellers during their layover time, redefining how travellers spend their waiting hours (Adel Abdullah Ali and Mudassir Shaikha requested additional discussions before investing).

• Eshara: An AI-powered Arabic sign language communication platform for the deaf and hard-of-hearing communities (Dhs100,000 in total: Dhs50,000 from Najla Al Midfa and Dhs50,000 investment from Hussain Al Mahmoudi, in addition to two undisclosed investments from Dariush Soudi and Edris Al Rafi, CEO, Invest Bank).

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

• NRSAssist: A real-time wireless monitoring system with predictive analysis of healthcare data, providing proactive health management solutions (Hussain Al Mahmoudi to provide prototyping support valued at Dhs70,000).

• BulBul: A learning platform dedicated to teaching conversational Arabic to non-Arab natives, making language learning accessible and engaging (Dhs100,000 from Adel Abdullah Ali, Dhs50,000 from Sheikh Fahim, Dhs50,000 from Jigar Sagar and Dhs50,000 from Samer Al Sayegh).

Nurturing entrepreneurs

Hussain Al Mahmoudi, CEO of SRTI Park, commented: “'Seal the Deal' is not just a platform for pitching ideas; it is a meeting point for young innovators and investors, giving startups born at AUS a substantial opportunity to succeed. Sharjah has become a reference in the UAE in fostering innovation providing unique 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 nurturing 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 & Research Ecosystem at SRTIP, added: “Student-led startups deserve unique support, we need to have special care for the energy of these amazing innovators. Student-led companies are not academic exercises, side projects or hobbies; they are serious endeavours that aim to solve real-world 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 needed to transform their ideas into impactful ventures. 'Seal the Deal' is a reflection of our dedication to fostering 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, ensuring they have 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 immense potential of young entrepreneurs to shape the future. Seal the Deal reflects Sharjah’s commitment to nurturing talent through mentorship and connections with investors. Our partnership with SRTIP & Invest In Sharjah enhances this mission, creating a thriving ecosystem for startups. Together, we’re empowering the next generation to confidently pursue their entrepreneurial dreams and build a brighter, innovative tomorrow.”

Mohamed Juma Al Musharrkh, CEO of the Sharjah FDI Office (Invest in Sharjah) “We are delighted to see the Seal the Deal initiative take off at this year’s Sharjah Investment Forum. Forums like this play a critical role in driving initiatives that will shape the future of businesses and economies. As Sharjah's investment promotion agency and a strategic partner for global investors looking to grow their business in the emirate, we remain dedicated to creating new pathways for growth. We are excited to see how this one serves student-led startups with the opportunities, mentorship, and investors they need to succeed in Sharjah and beyond."

Located in Sharjah, SRTI Park is driving an innovation ecosystem that promotes research & development and supports enterprise activity through the triple helix collaboration of industry, government & academia.

The Sharjah Entrepreneurship Centre (Sheraa) has been instrumental in creating a seamless journey for entrepreneurs in Sharjah, building a holistic ecosystem for founders that guides them from idea stage through to building their prototypes and taking them to market. Through their two hubs at the heart of the American University of Sharjah and University of Sharjah, Sheraa has empowered over 18,000 youth through their Startup Dojo programme, supported over 500 exceptionally talented founders in their community, and incubated the growth of over 180 ventures that have generated $248MM+ in revenue, raised $171MM+ in investments, and created 1,900+ jobs.