The Sharjah Entrepreneurship Centre, Sheraa, has pledged to create a solidarity fund of US$1 million, to help startups affected by the impact of the coronavirus and celebrate the #UbuntuLoveChallenge challenge.

The challenge is led by Sheikha Bodour bint Sultan Al Qasimi and Mamadou Kwidjim Toure, Founder and Chairman of Africa 2.0 Foundation, a global movement designed to encourage Change makers and experts from all over the world to put forward projects, initiatives and knowledge that will make a positive impact in the world.

The fund will provide aid in the form of financial grants or project pledges that enable emerging companies to withstand and overcome the crisis.

Najla Al Midfa, CEO of Sheraa, stated that the launch of the Solidarity Fund with a capital of US$1 million confirms the commitment of “Sheraa” to support entrepreneurs especially those who are struggling in facing the current challenges.

She added that stemming from Sheraa’s belief that the entrepreneurial community will play a pivotal role in the renaissance and recovery of the society, these grants will be dedicated to helping startups stand up and enabling their founders to develop effective solutions that build a better future for the entire world.

Al Midfa noted that this initiative comes as a substitute for Sheraa’s annual activities that will be canceled this year to preserve society’s health, safety and welfare, and all resources allocated to the activities in the Solidarity Fund will be used as grants for entrepreneurs who are committed to making a real impact and building the future that befits us and the future generations.