Thousands of attendees, including the founders of many regional startups, attended the two-day Sharjah Entrepreneurship Festival (SEF) this November.
It was an opportunity for business leaders and budding entrepreneurs to brainstorm, upskill their talents and even raise a little capital.
According to the festival’s organiser, Najla Al Midfa, who is also CEO of the Sharjah Entrepreneurship Centre (SHERAA), the 100 startups to have joined her entity in the past 4 years have received collective investment of around $50 million.
Investments also rose by more than 30% this year, compared to 2018
Al Midfa forecasts that SMEs, or small and medium sized enterprises, will continue to support the UAE’s growth in the near and long-term.
“SMEs are the backbone of the economy and a large part of non-oil GDP in the UAE comes from SMEs, so they do play a large role,” she says. “Obviously, even these SMEs will also need to hire, so there will always be a need for full-time talent, but I believe we still haven’t reached our full potential when it comes to entrepreneurship. So, there’s still much to be done.”
AKON TO RUN IN 2024 PRESIDENTIAL ELECTION
Celebrities, who are also CEOs and entrepreneurs, were also on the ground in Sharjah to offer advice to self-starters in the room.
Grammy-nominated Akon, of Lonely, Beautiful and Locked Up fame, was a star attraction.
In addition to being a multi-platinum selling musician, the American-born Senegalese artist is a passionate philanthropist and, as he puts it, “a social entrepreneur.”
His initiative ‘Akon Lighting Africa’, is geared towards provide electricity for an estimated 600 million Africans through solar power projects.
The 46-year-old also launched his own cryptocurrency, called ‘Akoin’, to create opportunity and inclusion for Africa’s young entrepreneurs.
Through his commercial ambitions and his musical success, Akon has found himself on the Forbes Celebrity 100 list, as well as being named 5th in the 40 Most Powerful Celebrities in Africa.
To see what lay ahead for Akon, including his ambitions to be U.S President one day, Inspire Middle East’s Rebecca McLaughlin-Eastham sat down with the artist and businessman in the UAE.
Q&A WITH AKON
Rebecca McLaughlin-Eastham: As an American citizen, and as we count down towards the U.S Presidential election in 2020. What do you make of the current political state of affairs?
Akon: It’s super, super, super scary. Because I always felt that when it came to government in the U.S, we had a specific standard that everybody aligned their goals around. It’s to the point now, where even they’re skeptical of how we’re governing, because you just don’t feel safe, you know?
Rebecca: You have ruled out of running in the upcoming election, but not in 2024. So, what makes you right for the job?
Akon: I think if you’re going to run for office, you are serving. And I think that’s a little bit different from a job. I’ve kind of experienced everything that a U.S citizen can experience – being an entrepreneur, understanding growth and building companies. I can also say the same thing from a business level and then from a political standpoint. I’ve been, literally, advising presidents from everywhere. I mean, like over 15, you know, countries in Africa – all throughout the world.
Rebecca: Well, let me pick up on that – you say you’re advising numerous heads of state from Africa. But I’m keen to know what subject is floating to the top, what’s the advice that you’re giving them?
Akon: It’s about the youth, you know, because seventy percent of Africa’s population is under 21. So, that’s the future for Africa and I think their focus needs to be on the youth. For example, creating more opportunities, subsidizing funds that can go into entrepreneurship for those kids that have great ideas and need seed money, because all it’s going to do is create a better economy for Africans to live in, in those specific countries.
