#Sharjah Media City opens doors to new financing opportunities in collaboration with Funding Souq

Sharjah Media City opens doors to new financing opportunities in collaboration with Funding Souq

Sharjah Media City (Shams) is expanding support for entrepreneurial ventures in the media sector and adding new financing opportunities to its portfolio that target innovative start-ups and SMEs and enable them to secure financing through a strategic partnership and guarantee scheme agreement with venture debt platform Funding Souq.

The agreement aims to provide innovative financing facilities for start-ups and SMEs through Funding Souq’s crowdfunding platform while Shams offers loan repayment guarantees.

Dr. Khalid Omar Al Midfa, Chairman of Sharjah Media City, said, "Securing funding remains among the most daunting challenges for start-ups to overcome at various stages of their development, and as part of our mission to build an environment that supports entrepreneurship, innovation, and creative thinkers in the media and creativity sector, Shams sought to set up new opportunities for our community of start-ups and SMEs to benefit from. The strategic partnership with Funding Souq will bring advanced solutions to this issue not only for our community, but also for innovative media companies from the wider ecosystem where we can see promising growth opportunities."

"Shams is committed to living up to the mission entrusted to us by H.H. Dr. Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, and to that end has set an ambitious vision to develop the business landscape that enables media start-ups to establish a thriving business community dedicated to transforming bold ideas into pioneering projects in the future," he added.