His Highness Sheikh Dr. Sultan Bin Mohammad Al Qassimi, Supreme Council Member, Ruler of Sharjah and President of American University of Sharjah (AUS) attended the official launch of the Sharjah Entrepreneurship Center (Sheraa), an initiative of the Sharjah Investment and Development Authority (Shurooq) to support and develop entrepreneurship in the Emirate of Sharjah. The center will be headquartered at AUS.

According to Sheikha Bodour Bint Sultan Al Qassimi, Chairperson of Sharjah Investment and Development Authority (Shurooq), the establishment of Sheraa aims to provide the youth of Sharjah a platform to share new ideas. "To help the economy flourish and to be a player in the region and the world, we are launching the Sheraa Center, which reflects our complete belief in the ability of our youth to make a difference and positively contribute in the enhancement of our economy and development of our society," said Sheikha Budour at the opening ceremony.

Marwan Bin Jassim Al Sarkal, Chief Executive Officer of the Sharjah Investment and Development Authority (Shurooq) said, "Entrepreneurship has become an important factor in determining economic development in many countries. Invention and innovation in entrepreneurship is an important factor that greatly helped the major countries such as like US, Canada and Taiwan, among others, develop and grow. According to the Entrepreneurship and Development Institute, UAE occupied first place in supporting entrepreneurship and we strive to achieve first place internationally in this sector," he said.

"As we have occupied first place in entrepreneurship regionally, we needed to find the right channel to practice entrepreneurship and to transform ideas and visions into successful commercial and economic projects, strengthening the country's position," he added.

The event launch hosted American entrepreneur Christopher Schroeder, as the keynote speaker. Schroeder is known for excellence in the field of entrepreneurship. He is a writer, a consultant and investor in the field of interactive technology and social networking.

Following the official launch of the center, Dr. Björn Kjerfe, AUS Chancellor; and Najla Al Midfa, General Manager, Sharjah Entrepreneurship Center, signed a Memorandum of Understanding between AUS and Sheraa.

There were two discussion panels held during the launch. The first panel comprised AUS alumna Iba Masood, Co-founder and CEO of Gradberry.com; former AUS professor Ginger Dosier, CEO BioMAson; and Khalifa Al Jaqziri, Founder, e-Home Automation.

The second panel consisted of Najla Al Midfa; Badr Jafar, CEO of Crescent Enterprises; Dr. Yousef Hamidaddin, CEO, Oasis 500; and Fadi Ghandour, Founder, Aramex and CEO, Wamda Capital. The panel discussed "Transforming Cities Through Entrepreneurship." The panel was moderated by John Defterios, Emerging Markets Editor, CNN.

Also present at the launch were Sheikh Mohammad Bin Abdullah Al Thani, Chairman of the Department of Statistics and Community Development; Sheikh Fahim Bin Sultan Al Qassimi, Chairman of Governmental Relations; Sheikh Tariq Bin Faisal Al Qassimi; Sheikh Saif Bin Mohammad Al Qassimi, Director of University City in Sharjah; Abdallah Bin Sultan Al Owais, Chairman of the Chamber of Commerce and Industry; Khalid Jasim Al Midfa'a, Head of Commerce and Tourism Development; Mohammad Abid Al Za'abi, Chairman of Protocol; Salem Al Qaseer, Head of Labor Standards; and Hussain Al Mahmoudi, Director of Chamber of Commerce.