Thara sets Dhs 700 million Ajman value-added target for five years

By Amara Osei

Thara’s Group Chief Executive Officer Marwan Hareb Al Aryani outlined five-year goals of at least Dhs 700 million in cumulative economic value added for Ajman and the creation of 3,135 direct jobs. The First Thara Connect Forum concluded at the Thara Entrepreneurship Centre in Ajman.

Ajman Chamber organized the event in conjunction with the launch of the Thara Investment and Entrepreneurship Ecosystem. Government leaders, investors, entrepreneurs, industry experts, representatives of economic institutions and emerging businesses attended.

How will Thara turn forum ideas into businesses?

The forum highlighted an integrated business environment that supports innovation, turns promising ideas into successful ventures and creates sustainable investment opportunities. It also reinforced Ajman’s position as a growing destination for entrepreneurship and business development.

Maryam Khalifa Al Nuaimi, Chairperson of the Board of Directors of the Thara Investment and Entrepreneurship Ecosystem, emphasised “building on the forum’s outcomes and strengthening connections between investors and entrepreneurs.” She said those partnerships can transform innovative ideas into scalable businesses and develop sustainable economic collaborations that enhance Ajman’s competitiveness and strengthen its entrepreneurial ecosystem.

Thara operates through an integrated model comprising six specialised companies. Its services include flexible workspaces, startup incubation and acceleration, investment and operational solutions, and community initiatives. This structure gives founders access to support as they establish, grow and expand their businesses.

What did the panels recommend?

The forum served as a platform for dialogue, knowledge exchange and partnership development. Three panel discussions covered the government’s role in supporting entrepreneurship, startup investment readiness, founders’ experiences in establishing and scaling businesses, and the challenges and opportunities in financing, growth and market access.

Participants recommended closer collaboration among government entities, private sector organisations and investors. They called for expanded startup incubation and acceleration programmes, better access to financing, customers and local and regional markets, and more direct engagement between founders, venture capital funds and investors.

The recommendations also covered sustainable business models, stronger corporate governance, operational efficiency and specialised mentorship programmes. Participants urged support for young entrepreneurs, Emirati talent, women and people of determination, along with innovation across future-oriented economic sectors.

Partnerships between established companies and startups could turn innovative solutions into commercial and investment opportunities, participants said. The forum also recommended clear performance indicators to assess economic impact, monitor business growth and sustainability, and evaluate contributions to job creation and economic diversification.

What are the five-year targets?

Al Aryani set five-year targets across economic output, employment, company formation, startup support and investment:

• At least Dhs 700 million in cumulative economic value added to Ajman.
• Support for the creation of 3,135 direct jobs.
• Support for 100 companies establishing, relocating or expanding operations in the emirate.
• 600 startups supported through Thara X.
• More than 220 companies prepared for investment.
• Dhs69 million in external financing attracted by startups.
• Direct investments in 71 companies.

What happens after the forum?

Participants said engagement must continue beyond the event and potential collaborations must become practical partnerships and actionable initiatives. They described Thara Connect as a platform for connecting government entities, investors and entrepreneurs.

The forum also forms part of Ajman Chamber’s ongoing efforts to strengthen the emirate as an attractive destination for investment, innovation and entrepreneurship. The chamber said the wider objective includes supporting startups’ contribution to sustainable economic development.

Who won the startup competition?

A startup competition drew applications from more than 45 emerging companies. Alfredo received a Dhs100,000 prize for its winning business idea and potential, with the award presented by cheque.

The competition gave founders a chance to present their ventures to investors and experts. The forum framed the exercise as reflecting Thara’s commitment to supporting promising ideas and turning them into sustainable business and investment opportunities.

The next test is whether those partnerships convert into funded companies, investment commitments and operating agreements as Thara works toward its five-year targets.