Ruler of Sharjah merges research and innovation centres
Sheikh Dr Sultan bin Muhammad Al Qasimi, the esteemed Ruler of Sharjah, has successfully merged the Sharjah Research Technology and Innovation Park (SRTIP) with the Sharjah Oasis for Technology and Innovation (SOTI), propelling the emirate's innovation landscape to new heights. In this union, SRTIP will absorb SOTI, synergizing their resources and expertise to establish an autonomous free zone authority.
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Sharjah's Merger Paves the Way for an Independent Innovation Powerhouse
Since its establishment in 2016 under Sheikh Dr Sultan's guidance, SRTIP has operated as a collaborative endeavor among industry, government, and academia, with the American University of Sharjah (AUS) Enterprise Programme providing oversight. However, under a recent decree, AUS's role will be replaced by a distinguished board of directors, with Sheikha Bodour bint Sultan Al Qasimi as the chairperson, to manage and represent the Sharjah Research, Technology and Innovation Park Free Zone Authority , Sheikha Bodour enthusiastically emphasized the significance of merging SRTIP and SOTI and formalizing SRTIP's autonomy as a Free Zone Authority. This move positions Sharjah to achieve greater strides in supporting the entrepreneurship ecosystem and fostering the development of the knowledge economy in both Sharjah and the UAE.
SRTIP's Success in Bolstering Sharjah's Reputation as a Technology Sector Innovator
SRTIP, guided by AUS, has already achieved remarkable success in bolstering Sharjah's reputation as a technology sector innovator. The park has nurtured a vibrant and appealing business environment, attracting over 2,000 companies specializing in advanced innovative technologies. These companies have collectively invested more than $100 million in groundbreaking research , With the establishment of a diverse and experienced board of directors, the time is ripe for Sharjah to soar even higher and solidify its position as a leading global hub for innovation, business, and entrepreneurship. The new board will play a pivotal role in supporting and fostering innovation within the park, while also enhancing the emirate's status as a sought-after destination for research and technology.
Board's Key Objectives: Talent Development and Fostering an Entrepreneurial Ecosystem
The board's key objectives encompass talent development, boosting the emirate's competitiveness by attracting specialized institutions and companies focused on innovation, facilitating investment, and providing support to local innovators as they establish their own ventures. Additionally, the board will actively promote and nurture research ideas that can be transformed into tangible products , One of the board's critical responsibilities is to develop comprehensive legislation that encourages the active involvement of teaching staff and students in launching their own projects. It will also regulate the businesses and activities allowed within the park, meticulously formulating rules, conditions, requirements, and procedures for licensing such ventures. Furthermore, the board will actively invest in startup companies registered within the park, fostering a thriving entrepreneurial ecosystem.
Strategic Collaboration and Seamless Leadership Transition at Sharjah's Research and Innovation Park
In a testament to its forward-thinking approach, the board will have the authority to forge agreements with other free zones, enabling companies and institutions within the park to conduct business in those zones and vice versa. This strategic collaboration will create synergistic opportunities and foster a broader network for innovation and growth , To ensure a seamless leadership transition, distinguished senior officials from the University of Sharjah, AUS, and SRTIP will join the new board of directors. Their invaluable expertise and insights will contribute to the board's effectiveness and align its efforts with the wider academic and research community. Hamid Al Naimiy, the esteemed chancellor of the University of Sharjah, Dr Susan Mumm, chancellor of AUS, and Hussain Al Mahmoudi, chief executive of SRTIP, will bring their wealth of knowledge to shape the park's future endeavors.