Ruler of Sharjah merges emirate's research and innovation centres

Move will enhance Sharjah’s standing as innovator in technology sector, says Sheikha Bodour

Sheikh Dr Sultan bin Muhammad Al Qasimi, Ruler of Sharjah. Wam

Sheikh Dr Sultan bin Muhammad Al Qasimi, Ruler of Sharjah, has merged Sharjah Research Technology and Innovation Park (SRTIP) with Sharjah Oasis for Technology and Innovation (SOTI).

Under the merger, SRTIP will absorb SOTI and combine the organisations’ resources and expertise to form an independent free zone authority.

Since Sheikh Dr Sultan established SRTIP in 2016, it has operated as a collaboration between industry, government and academia with oversight from the American University of Sharjah (AUS) Enterprise Programme.

Under a new decree, AUS's oversight will be replaced by an independent board of directors to be chaired by Sheikha Bodour bint Sultan Al Qasimi that will manage and represent the Sharjah Research, Technology and Innovation Park Free Zone Authority.

"Merging SRTIP and SOTI, and formalising SRTIP’s role as an independent Free Zone Authority means we can make bigger strides in our mission to support the entrepreneurship ecosystem and develop the knowledge economy in Sharjah and the UAE," said Sheikha Bodour.

“Under the stewardship of AUS, SRTIP has been hugely successful in enhancing Sharjah’s standing as an innovator in the technology sector.

"It has created an attractive and dynamic business environment for more than 2,000 companies specialising in advanced innovative technologies, which have invested more than $100 million in their research.

"The time is right to reach higher and underscore Sharjah’s position as a leading global destination for innovation, business, and entrepreneurship. The establishment of a diverse and experienced board of directors to guide and support the vision of SRTIP is an important step on that path."

The new board will support and develop innovation at the park, as well as improve the emirate's position as a global destination for research and technology.

It will develop talent and enhance the emirate's competitiveness by attracting and encouraging institutions and companies specialised in the field of innovation.

The board will attract investment and support local innovators and support them in establishing their own companies.

It will also look to support and encourage research ideas that can be transformed into tangible products.

The new board will put together legislation that contributes to the involvement of teaching staff and students in launching their own projects.

The board will also determine and organise the businesses and activities that are licensed to be practised within the park and prepare the rules, conditions, requirements and procedures for licensing such businesses and activities.

It will also invest in start-up companies registered in the park.

The board will also be able to sign agreements with other free zones to enable the companies and institutions of the park to conduct business in those zones or vice versa.

The new board members are: Prince Khaled bin Waleed, founding chairman, KBW Investments and founder and chief executive of KBW Ventures; Sheikh Dr Majid Al Qassimi, founding partner of Soma Mater; Dr Abdelaziz Almheiri, chairman of the Sharjah Health Authority; Adel Ali, chief executive of Air Arabia Group; Ahmed Al Qaseer, chief executive of Sharjah Investment and Development Authority (Shurooq); Najla Al Midfa, chief executive of Sharjah Entrepreneurship Centre (Sheraa); Khaled Al Huraimel, chief executive of BEEAH Group; Dr Aisha bin Bishr, vice chairman of Emaar Development; Alisha Moopen, deputy managing director, Aster DM Healthcare; Abdulaziz Loughani, chief executive of Floward; Faizal Kottikollon, founder and chairman of KEF Holdings; Samer Sayegh, managing director of National Paints Factories and Mudassir Sheikha, co-founder and chief executive of Careem.

To ensure a smooth leadership transition, senior officials from University of Sharjah, AUS and SRTIP are also invited to join the new board of directors: Hamid Al Naimiy, chancellor of the University of Sharjah; Dr Susan Mumm, chancellor of AUS, and Hussain Al Mahmoudi, chief executive of (SRTIP.