The American University of Sharjah has created a fund intended to empower young women and support fledgling business projects of up to 10 students each year.
The Peter Heath Women’s Entrepreneurship Fund was established after the Abraaj Group, an investor firm, gave the university a Dh5 million endowment.
The university said it would work with Abraaj Group executives to review students’ business proposals and choose winners based on creativity and innovation, as well as help fund their projects.
Thomas Hochstettler, acting chancellor of AUS, said the fund was an opportunity to channel the talents of AUS female students into entrepreneurship.
“In doing so, this endowment will support women in developing new, innovative, high-value-added businesses and to that extent unlocks fresh potential and opportunities for talented young women at AUS,” Mr Hochstettler said.
The fund was named in honour of Peter Heath, who served as AUS chancellor for four years and supported female entrepreneurs’ endeavours, the university said.
Nada Mourtada-Sabbah, AUS vice chancellor for development and alumni affairs, said the endowment would help outstanding female students.
“It will accelerate the growth of their businesses by identifying and connecting them with the advisers, resources and insights they need to succeed and become expert leaders,” she said.
AUS said more details about the programme, including application procedures, would be announced at a later date.
Men in the UAE are 2.8 times more likely than women to start their own businesses, said a report last week by the Global Entrepreneurship Monitor, an annual study conducted by universities.
newsdesk@thenational.ae
At a glance
Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.
Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year
Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month
Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30
Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse
Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth
Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances
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Final
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