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.
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