The inaugural “Thra Connect” forum recently concluded, organised by the Ajman Chamber in harmony with the launch of the “Thra” investment and entrepreneurship ecosystem. Held at the Thra Entrepreneurship Centre, the event saw participation from government leaders, investors, entrepreneurs, experts, and representatives from economic institutions and start-up companies. The forum underscored the importance of building a comprehensive economic environment that fosters innovation and transforms promising ideas into successful projects and sustainable investment opportunities.
A Platform for Dialogue and Partnership
The forum served as a robust platform for dialogue, experience-sharing, and partnership-building, featuring three discussion sessions. Topics included the role of government entities in supporting entrepreneurship, the readiness criteria for start-ups seeking investment, and the firsthand experiences of founders in establishing and expanding their businesses. Additionally, participants deliberated on the challenges and opportunities associated with financing, growth, and market access.
Key Recommendations for Economic Integration
Discussions at the forum led to a series of recommendations aimed at enhancing integration between government agencies, the private sector, and investors. Suggestions included developing incubation and acceleration programmes, facilitating access for start-ups to funding sources, customers, and local and regional markets. Furthermore, the recommendations emphasised improving investment readiness for companies by developing sustainable business models, enhancing governance and operational efficiency, and providing specialised mentorship programmes while expanding direct communication channels between founders and venture capital firms.
Empowering Youth and Fostering Innovation
Participants highlighted the significance of empowering youth and talented individuals to enter the entrepreneurship realm, promoting innovation in future economic sectors, and fostering partnerships between large institutions and start-ups to convert innovative solutions into viable business and investment opportunities.
Measuring Economic Impact
The forum accentuated the necessity of adopting clear performance indicators to measure the economic impact of entrepreneurial initiatives, monitor company growth and sustainability, and assess their capacity to create job opportunities, thereby enhancing the contribution of entrepreneurship to the diversification of the local economy.
Commitment to Sustainable Economic Partnerships
Mariam Khalifa Al Nuaimi, Chairperson of the Thra Investment and Entrepreneurship Ecosystem, emphasised the importance of building on the outcomes of the forum and fostering communication between investors and entrepreneurs. This collaboration is essential for turning innovative ideas into scalable projects and developing sustainable economic partnerships that will bolster Ajman’s competitiveness.
She explained that the Thra ecosystem operates on a comprehensive model consisting of six specialised companies, offering services that encompass workspaces, project incubation and acceleration, investment and operational solutions, and community initiatives, ensuring that founders receive the necessary support at every stage of their company’s establishment, growth, and expansion.
A Five-Year Vision for Economic Growth
Marwan Harb Al Aryani, CEO of the group, stated that the Thra ecosystem aims to achieve a cumulative added value of not less than AED 700 million to Ajman’s economy over the next five years, contributing to the generation of 3,135 direct job opportunities and enabling 100 companies to establish, relocate, or expand within the emirate.
Additionally, targets include supporting 600 start-ups through “Thra X”, preparing over 220 companies for investment, and assisting start-ups in attracting AED 69 million in external funding, aiming for direct investment in 71 companies within five years.
Fostering Lasting Collaborations
Participants reiterated the importance of maintaining communication post-forum, translating cooperation opportunities into actionable partnerships and implementable initiatives. This would enhance the role of “Thra Connect” as a platform uniting government entities, investors, and entrepreneurs, thereby supporting the establishment of a comprehensive economic and investment network.
Showcasing Entrepreneurship Talent
The forum was part of the Ajman Chamber’s efforts to establish the emirate as an attractive destination for investment, innovation, and entrepreneurship while enhancing the contribution of start-ups to sustainable economic development. At the conclusion of the event, a start-up competition was held, seeing participation from over 45 start-ups. “Alfredo” clinched the competition’s grand prize of AED 100,000, awarded in recognition of its innovative concept and successful project. The competition allowed founders to showcase their work to investors and experts, reflecting the Thra ecosystem’s commitment to supporting promising ideas and transforming them into growth and investment opportunities.