The Higher Colleges of Technology (HCT) and Sharjah Chamber of Commerce and Industry (SCCI) have signed a memorandum of understanding (MoU) that aims to enhance efforts to support entrepreneurship among Emirati HCT graduates through a business incubator, one of Sharjah Chamber’s initiatives that encourages small and medium enterprises among young people and help increase economic rewards and achieve sustainable development in Sharjah.
The MoU was signed by HE Abdullatif Al Shamsi, HCT Chancellor, and HE Abdullah Sultan Al Oweis, Board Director of Sharjah Chamber, at its headquarters and with the attendance of Mohammad Ahmed Amin, Director General Assistant of the Communication and Business Sector of SCCI.
As per the MoU’s articles, the two parties have agreed to cooperate and coordinate and make the most effort to assist HCT Emirati students, with a team from the business incubator choosing a group of entrepreneurs from HCT graduates to join the business incubator as members and provide them with offices and cover operational expenses for their enterprises such as office rent and license fees for 2 years for each chosen member. Joint activities on innovation and entrepreneurship will be organized for entrepreneurs to train them and build their capabilities.
The two parties will further cooperate to exchange information and visits regularly and follow up on achieving desired goals and conduct applied research studies relevant to entrepreneurship.