Hussain Al Mahmoudi: Building the most exciting hybrid venture scaling program in the Middle East

Playing long game is impossible unless the business can adapt to the challenges of the time and the new conditions that the market dictates to it. It is even more acute in times of global crisis and critical instability. Thus, only innovative businesses that create stability within its shortage are able to survive by accepting the new rules of the world order. The countries of the Middle East clearly recognize this need for the DeepTech businesses, which by their very nature are based on advanced scientific and technological solutions.

Many businesses fail at deploying innovations. And this is another reason for building the most exciting hybrid venture scaling program in the Middle East. Sharjah Research Technology and Innovation Park (SRTIP) has recently?reported?that they successfully closed the third edition of the Sharjah Advanced Industry Accelerator (SAIA) programme, which has attracted 1,500 entries from 45.

SRTIP was established in 2016 by the royal decree of His Highness Sheikh Sultan Bin Muhammad Al Qasimi, Ruler of Sharjah, United Arab Emirates. It is focused in the developing of innovation ecosystem that promotes Research and Development (R&D) and supports enterprise activities, utilizing the triple helix collaboration of industry, government, and academia.

Mr Hussain Al Mahmoudi, CEO of Sharjah Research, Technology and Innovation Park (Free Zone Authority). CEO of the American University of Sharjah Enterprises, agreed to answer several questions about SRTIP’s current projects and future plans.

Alex: What are the projects SRTIP working on right now?

Mr Hussain Al Mahmoudi: The Sharjah Research, Technology, and Innovation Park Free Zone (SRTIP) was established in 2016 to develop and manage an innovation ecosystem that promotes Research and Development and supports enterprise activities and the triple helix collaboration of industry, government and academia. With Sharjah’s University City as a backbone for collaboration and research, we have built an ecosystem that aims to boost innovation, nurture talent and foster an engaging community of like-minded people from over 150 leading academic institutions, companies and start-ups who connect, work and thrive in the SRTI Park.?

The Park focuses on 6 research areas vital to Sharjah, UAE and the Region which will lead Sharjah to act as the region’s role model for establishing a knowledge economy: water management, renewable energy, environmental technology, transport and logistics, digitalization and smart manufacturing.

Currently, the SRTI Park is a vibrant hub for innovators and entrepreneurs who are actively engaged in translating futuristic ideas into practical solutions in areas as diverse as smart transportation, electric cars, 3-D printing, additive manufacturing, next-generation farming and dozens of other solutions.

HE Omar Al Olama, UAE state Minister for Artificial intelligence to SRTIP

Alex:?How do you separate SRTIP from your competitors in other emirates? What makes you different?

Mr Hussain Al Mahmoudi: SRTIP works as an independent government-supported entity whose goal is to encourage and incubate ideas for disruptive solutions from developers from across the globe. We provide an atmosphere conducive to translating ideas into solutions. In other words, we have created a complete ecosystem for startups; we are more than just a free zone. We co-develop technologies with our partners within the premises.

We complement the overall UAE vision to make the country one of the biggest destinations for incubating ideas, and we don’t regard other bodies as competitors. In that sense, we complement other such bodies in the UAE, as well share a common goal. As Sharjah has positioned itself as the knowledge capital, SRTIP complements that vision and we are on the right track to provide the most attractive environment for startups.

Hussain Al Mahmoudi and Anastasia L. from Deep Knowledge Group presenting the joint Life Science in the UAE report

Alex:?Recently SRTIP launched the accelerator. What is it focused on? And what do you want to achieve with it? Where did the idea come from and what exactly does it focus on?

Mr Hussain Al Mahmoudi: The 3rd Sharjah Advanced Industry Accelerator (SAIA) programme that offers global startups an opportunity to join the SRTI Park ecosystem and gain regional market access, has attracted over 1,600 entries from 45 countries – double the number of applicants seen in the last edition.

Most of the entries for SAIA 2022 are in the categories of Digitalization Solutions and Energy Technologies, followed by Transport & Logistics, Environmental Analysis, Water Technologies and Production & Design.?

The global competition promises to be a very exciting event for the startup community at large. The quality of entries is very high, and testifies to SRTIP’s rising reputation as a hub for incubating future innovations. We look forward to a tough and invigorating competition as some of the world’s most dynamic startups demonstrate their innovations before a global audience.

The SAIA competition will be held from 6 September to 6 December, 2022.

Alex: Share a few tips and advice on how to get into your accelerator program. Are you providing education and investments?

Mr Hussain Al Mahmoudi: The accelerator programme is open for all startups. All they need is a great idea or a great project. Entries for the 2022 event have already closed.?

Only 10 finalist startups will be chosen to join the 12-week accelerator program of SAIA 2022, dedicated to providing business development facilitation to accelerate startups and connecting these founders and entrepreneurs with industry experts, markets, decision makers, investors, corporates, government entities, academia, and right educational institutions.?

The finalists will get full support, guidance and funding to take their projects to fruition, as well as access a burgeoning regional market. SRTIP will be a partner in these projects, providing a perfect environment and incentives to translate these ideas into world-beating solutions. This programme is a win-win situation for all stakeholders.

Alex: What are your plans for the upcoming 2023?

Mr Hussain Al Mahmoudi: Some of the hottest ideas in making life better for humanity are taking the centre-stage at SRTIP as we speak. The suspended skypods for smart transportation are developing fast, 3-D and additive manufacturing are making headlines and the next big thing will be the onsite testing of the world’s first electric car from Dutch startup Lightyear, following the recent signing of an MoU with SRTIP.

In addition, in every corner of SRTIP, there are innovators working silently on revolutionary projects too numerous to recount. All we can say is that you will hear more about SRTIP in 2023 than in the past few years.

Alex: What are the events SRTIP is planning this year? How one can get an invitation to these events?

Mr Hussain Al Mahmoudi: STRIP is constantly engaging the community of entrepreneurs, startups and academics through series of regular networking events. There is a crowded calendar of events, which includes on-site as well as online event. We announce these events and programmes on our social media platforms. We recommend engagement with our social media channels to know about our events and the modes of participating in them.