The sixth edition of the annual student initiative, ‘Business Stars,’ organized by The Sharjah Entrepreneurship Foundation “Ruwad,” was inaugurated on Thursday night at the Zero 6 Mall in Sharjah. The initiative launched in co-operation with Ruwad’s strategic partner, The Sharjah Education Council is expected to until January 4, 2020.

The inauguration ceremony was attended by Their Excellences Dr. Saeed Musabbah Al Kaabi, Chairman of the Sharjah Education Council; Khalid Bin Butti Al Hajiri, Board Member of “Ruwad,” Hamad Al Mahmoud Director of the Foundation; Marwan Al Mashghouni, Director of Corporate Communications at Expo Center; entrepreneur Hazaa Al Mansouri; a number of “Ruwad” staff; parents of participants and customers of the Zero 6 Mall.

This edition of the initiative will witness participation from 135 students of which 112 will be school students, showcasing around 50 projects with the potential of being developed into future entrepreneurships.

His Excellency Hamad Al Mahmoud, Director of “Ruwad” Foundation said that this initiative has provided an ideal platform for identifying talented individuals and explore their leadership abilities in the field of business and finance, and invest their creative ideas and commercial aptitude by helping them present their projects in the form of mini-experiences during the initiative.

He added that many well-known global conglomerates ventured into having their own business by starting off with smaller projects that soon developed and expanded into gigantic global corporations yielding high revenues and profits. He highlighted that there were numerous inspiring examples of young UAE nationals who expressed their desire to become successful entrepreneurs very early on in their lives, thus breaking through the world of free business and launching a flourishing future for themselves.

The Business Stars initiative seeks to prepare the next generation of entrepreneurs in the Emirate and across the country. It also aims at honing their attitudes, and encourage the families to further acknowledge their creative abilities and encourage these young adults to pursue their ambition of becoming successful business entrepreneurs. The total grants the foundation offered to the students this year totaled to approximately AED 46,500.

Amina Mohammed, Director of Corporate Communications at “Ruwad” foundation said that the initiative has seen a substantial increase in participation since it first started in 2015.

An event of such caliber has become an annual gathering for students wishing to get into free business in future. Approximately 120 students participated in the previous editions of the event displayed 40 projects, generating a total revenue of AED 152,000.

Amina Mohammed emphasised that the initiative reflects on the directives of His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, Member of the Supreme Council and Ruler of Sharjah that underlines the importance of engaging UAE nationals in successful ventures that are beneficial for the progress of the nation. She added that the initiative will help in developing the participants knowledge of entrepreneurship, deepening their concept of private ventures and attaining the commercial goals through teamwork using simplified and clear objectives.

The current edition is expected to be held in two stages, with the first stage between December 26-30, 2019 to held for school students between 10 to 18 years of age. The second stage will include projects from students of the schools, universities, colleges, and institutes and will be held on December 31 to January 4. Eighteen students from the students of the University of Sharjah and the Higher Colleges of Technology are expected to participate in the second stage.

Mohammed Al Mulla, Secretary General of the Sharjah Education Council, explained that students’ initiatives and activities have opened several doors of innovations that have contributed to changing the course of the economies of many countries. The UAE has thus launched events and initiatives motivating students of different age groups, to participate in such activities. Several education councils and institutions across the region and Sharjah were keen to launch such initiatives and activities appropriate for the different age groups of students to enable them participate in achieving a shift in the country’s progress and prosperity.

Aysha Al Jarman, Director of the Activities Department at the Sharjah Education Council emphasised the importance of exceptional entrepreneurship student initiatives and activities that help motivate students. The Sharjah Education Council works towards cultivating students' talents, enhance their capabilities, and provide them with the necessary tools that help them adopt and implement entrepreneurial ideas and quality projects. It also contributes to motivate students’ innovative ideas, thus unleashing more projects.

The Business Stars edition this year will witness a new addition called the Business Stars in the Eastern Region, where 32 school and university students will participate. This initiative will commence on January 2, 2020, in the Khorfakkan Corniche.

All the projects presented will be evaluated based on a specific criterion by a specialized committee comprising business leaders and public figures. Entries will be judged based on the idea, sales, efficiency, efforts, abidance, and discipline. Participants will receive directives and guidance to ensure the success of their projects, helping them obtain the highest possible sales ratio.