Farzana Mansoor
SHARJAH (UAE): Following the stupendous success of SAIA 2023, Sharjah Research Technology and Innovation Park (SRTIP) has rolled out the 5th edition of the Sharjah Advanced Industry Accelerator (SAIA) themed on Sustainability and Healthcare Technologies, marking another significant step towards fostering technological breakthroughs that address global challenges.
Last year’s SAIA program attracted over 4,200 startup applications from 75 countries, with over $100M invested by ecosystem partners in SRTIP. The 5th edition is expected to attract record participants looking for a world-class platform to scale their ventures and drive meaningful impact.
The timing of the 5th SAIA program aligns seamlessly with recent global initiatives, including COP28 and the UAE President’s extension of the “Year of Sustainability” theme to 2024. The program is poised to make significant contributions towards achieving the goals outlined in the COP28 UAE Declaration on Climate and Health, endorsed by 144 countries.
“The annual SAIA program represents a crucial milestone in our journey towards a sustainable and technologically advanced future,” said Hussain Al Mahmoudi, CEO of SRTIP. “”As sustainability and healthcare are two critical pillars for the future of humanity, our theme this year, by focusing seeks to empower innovators to drive meaningful change and contribute to the betterment of society. We extend an open invitation to the world’s brightest startups to join our SAIA and benefit from the great benefits it offers.
“As nations worldwide grapple with environmental sustainability and healthcare advancements, SAIA emerges as a beacon of innovation and collaboration, bringing together visionary startups and scale-ups to drive positive change.”
SAIA offers a dynamic platform for startups and scaleups, providing access to mentorship, world class facilities, market opportunities, and a robust network of industry experts. The program is tailored for companies with a proven revenue track record, a commitment to innovation, and a vision for global growth. Eligible participants will attend a two-week intensive acceleration program in person at SRTIP, gaining invaluable insights and connections to propel their ventures forward. Through partnerships with leading universities, government entities, private sector and industry experts, SAIA offers participants unparalleled support and resources to accelerate their growth journey.
With the UAE’s GDP expected to grow by over 5 percent this year (2024), surpassing the 2.8 percent growth anticipated for the global economy (according to Standard & Poor’s (S&P) Global Ratings projections) SRTIP and SAIA play a pivotal role in driving this growth. By nurturing startups and scale-ups in key sectors, SAIA enables them to leverage the UAE’s vibrant ecosystem and contribute to the nation’s economic prosperity.
Sharjah’s startup ecosystem is further bolstered by its strong focus on sectors such as technology, healthcare, education, and renewable energy. The emirate has seen substantial investment in infrastructure development, research and development, attracting a diverse range of startups and investors eager to capitalize on the burgeoning market opportunities.
SAIA has experienced remarkable growth, with a significant 154.55% increase in applications — from mere 1,650 in 2022 to an impressive 4,200 in 2023. This surge not only demonstrates the burgeoning interest in the accelerator program but also underscores the growing recognition of SAIA as a preferred platform for startups globally.
Beyond the numbers, the quality and diversity of these applications, as well as the successes of companies that have gone through past programs, speak volumes about the thriving ecosystem SRTIP has cultivated. With startups from various industries and geographical locations, past SAIA cohorts have witnessed remarkable success stories. For instance, startups that graduated from previous editions have collectively raised over $100 million in funding and generated hundreds of jobs, highlighting the significant impact of the accelerator program. These achievements showcase a rich tapestry of innovative ideas and ventures spanning diverse industries and geographies.
