"TAM" Initiative Provides An Interactive Platform Bridging The Gap Between Entrepreneurs And Investors

Transforming the business dreams of young entrepreneurs into a reality

The launch of the "TAM" initiative by Sharjah Tatweer Forum during the "Getting Down To Business" conference has been hailed as a turning point in Sharjah’s business sector, as it will connect young entrepreneurs with potential investment opportunities.

The launch is in line with the framework of the Sharjah Government’s efforts to promote entrepreneurship among ambitious young Emiratis, transforming their dreams into reality by using TAM as a starting point to grow their big ideas.

TAM aims to build bridges of communication between young entrepreneurs, investors, banks and supporting institutions to nurture a business-friendly environment, and groom a more mature SME sector.

His Excellency Jassem Al Beloushi, Chairman of Sharjah Tatweer Forum, launched the TAM initiative on the second day of the conference and described it as a quantum leap in making Sharjah’s SMEs internationally competitive. He added that it will help entrepreneurs to widen their horizons and diversify into more knowledge-driven sectors, while attracting funding for various projects throughout the emirate.

Immediately after the launch, the Evaluation Committee - which included a panel of investors and prominent business leaders - met young entrepreneurs who pitched their best ideas to grow their businesses and expand their existing projects. The goal was to persuade the jury about the viability and profitability of their business ideas. These presentations were then judged according to their chances of success and the level of originality and innovation shown.

A highly innovative idea from businesswoman Fatima al-Habashi was rated as one of the best submissions, after she presented the idea a center for scientific environmental research to serve as a beacon of intellectual thinking.

In her speech, Fatima al-Habashi emphasized the need to find common ground for scientific efforts in the UAE and coordinating them to ensure the effectiveness of research outputs. She pointed out that this center can play a vital role in shaping Sharjah’s policies by providing scientific data to support the necessary legislation, as well as the center’s role in stimulating scientific research among young Emiratis.

The conference also witnessed the discussion of some of the projects under the TAM initiative, such as the one launched by leading businesswoman Amal Al Agroobi, owner of the "I Love UAE" project. This project seeks to promote products from Emirati creators and gives them exposure around the world via digital platforms.

Entrepreneur Taleb Al Mazroui used a set of data to explain his new project about electronic social communication. Meanwhile Jassim Al Bastaki was complimented for his passion while talking about his "Cafe2Go" business to the Evaluation Committee.

The range of projects submitted varied from sectors such as food and beverages, industry, commerce, media (both traditional and digital) fashion and many more. This reflected the enthusiasm of young Emiratis in starting their own businesses, and their thirst for more business knowledge.

Economic analysts described TAM as a giant step on the path to creating a culture of entrepreneurship and attracting major investments. The success of current entrepreneurs is set to inspire future entrepreneurs to also enter the sector and emulate their success, after connecting with donors.

The Evaluation Committee consisted of a number of supporting institutions, banks and state funds - including the Khalifa Fund, Ruwad establishment in Sharjah, Sharjah Businesswomen Council, Department of Economic Development, Emirates Islamic Bank, Sharjah Islamic Bank, Envestors Middle East, Seed startup and other partners.

Most of the participants won the votes of at least one of the jury members, and met some potential investors to discuss possible funding. Offers were received for 20 projects, making the event a resounding success. As a result, the Evaluation Committee agreed to organize a second session of the TAM initiative in the near future.

TAM registered 48 participants aiming to start or expand their SMEs. Participants underwent a training course by the Khalifa Fund to support their business plans and budgets, while offering professional advice on the best ways to present their projects to investors.

Emirate:  Sharjah

Date: Jan 31, 2013

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