A new fund to support women entrepreneurs has been established at the American University of Sharjah (AUS). The Peter Heath Women’s Entrepreneurship Fund, named after the university’s former chancellor, follows a Dhs5 million endowment by private equity firm Abraaj Capital and will support 10 female students every year.
“The [fund] is an opportunity to channel the talents and innovation of AUS’ young women entrepreneurs into productive endeavours such as creative entrepreneurship,” said AUS’ Acting Chancellor Dr. Thomas Hochstettler. “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.”
Dr. Nada Mourtada-Sabbah, the university’s vice chancellor for development and alumni affairs added that the endowment will “accelerate the growth of [the entrepreneurs'] businesses by identifying and connecting them with the advisors, resources and insights they need to succeed and become expert leaders.”
Interested students will have to go through an application process, following which the proposals will be reviewed by the university’s committee and Abraaj executives to select the final 10.