Exclusive to Magzoid
H.E. Dr. Khalid Omar Al Midfa, Chairman of Sharjah Media City (Shams) has targeted at creating Sharjah as the first media hub for innovative facilities and services and helping small businesses set up in a very cost-efficient manner. Below his leadership, Shams has become the quickest growing media free zone in the UAE. They also provide support and opportunities across 120 business license activities with facilities, legal framework, general and logistical services to investors. Here is H.E. Dr. Khalid Omar Al Midfa’s interview with Magzoid where he talks about the initiatives of Shams and what all we can look out for from them.
You have prominently established yourself as a successful executive. We would like to know about your very first step in the corporate world.
As an entrepreneur, I tried many different ventures of which some of them succeeded and some didn’t. But it was only after completing my studies in the UK that I got a lot of ideas that could be applied to the UAE. It was the time that the internet had started to boom and there were a lot of new companies which were succeeding and getting good publicity. From there, I came back to UAE and tried to venture into businesses but it was also the time the financial crisis hit us due to which I had to move to Abu Dhabi to join another company. While I was there, I was approached by Sharjah to head the Sharjah TV Station under the Sharjah Media Corporation. So I returned and got my ideas implemented. Sharjah TV got a lot of support from the leadership and the teams working in Sharjah Media Corporation. While working there, I met new people and new companies in the media and creative sector and learned about them. That’s when I realized that we need to create a platform in Sharjah for companies who have ideas and abilities for the industry. This took me back to my entrepreneurial ambitions where I wanted to create something new for the people. The risk-taking spirit has helped me come so far, and now I am into taking more calculated risks.
Would you like to talk a bit about your educational background?
I got my Ph.D. in Telecommunications Engineering and a Master’s degree in Communication Systems and Signal Processing from the University of Bristol in the United Kingdom and also obtained my Bachelor’s degree in Telecommunications Engineering from Khalifa University in the UAE.
What kind of companies do you plan on hosting with Shams?
When we started, we were looking into how technology has affected the industry. We never thought about having anchor tenants; we wanted to target the individual and creative person. A person can be a good talker but not a good marketer, and supporting them with the necessary services so that they can excel was our main focus. For the creative and hardworking people, we wanted to create a platform. Joining hands with people from different fields who don’t have to start from scratch and become the launching platform for the companies was our main goal. As we always promoted going digital, we were ready for the pandemic before it came. By being adaptive we didn’t face many issues in 2020. Since the rise in competition, thinking differently was our prime focus.
What are the new initiatives and projects coming up from Shams to boost the incoming wave of entrepreneurship?
Our goals at Shams have always revolved around making entrepreneurship accessible and inspire business development. We aim to be a catalyst for the success of business ventures in the emirate – with a particular focus on media and creative industries, but also beyond. We have seen the vast potential and tremendous room for growth that entrepreneurs have in the Emirate of Sharjah. Indeed, our own member companies include many ambitious ventures that were set up by new entrepreneurs and business owners, supported by the affordable, efficient, and sustainability-driven licensing model we have created. Shams offers aspiring entrepreneurs affordable company setup options; a streamlined, quick, and simple online registration process; 100% foreign ownership; 100% repatriation of capital and profits; and 0% corporate or personal income tax. Taking it a step further, Shams introduced a ground-breaking service in the business sector – the Virtual Office, which allows startups and small and medium enterprises (SMEs) to launch their businesses without needing to rent a physical office. The new service allows for cutting costs significantly, encouraging innovators and creators to provide their service and easily operate in the market.
What challenges do you feel is the current SME segment facing and how is Shams committed to facilitating them?
As with every sector, the COVID-19 pandemic accounts for a large portion of the challenges facing the startup and SMEs sector. The pandemic has brought restrictions on everything from travel and networking, to funding in some cases. And now as the world emerges from the crisis and things slowly get back to normal, a new normal has taken shape, making it necessary for all of us to adapt – and startups and SMEs are uniquely agile and equipped to handle change. For the media and creative industries, in particular, the pandemic has pushed the industry into a direction where digital media is dominant.
How does Shams facilitate and plan of promoting the creative industries of arts, culture, music, filming, and other
Shams has launched many initiatives over the years that sought to support the creative industries in the emirate. Our most notable partnerships and collaborations in that regard include our sponsorship of Sharjah Art Foundation’s Sharjah Film Platform, which Shams supported as the film industry partner. Our partnership with the platform aims to provide opportunities for Emirati youth to nurture their creative talents and skills. We also took part in the Sharjah International Film Festival for Children and Youth to support young and budding talents within the media industry. On a different note, Shams has launched bold and often ground-breaking creative and media projects, most recent of which was the film ‘218’, produced as part of the UAE Entertainment Experience initiative, which allowed the audience to take part in making the film. ‘218’ is the first crowdsourced film in the Arab world.
Would you like to comment upon the technological infrastructure and Shams’s involvement in promoting innovation in technology?
There is no doubt that technology plays a prominent role in various sectors, and this is especially true for media. Shams provides an integrated electronic platform where all of its services can be availed, including making cash deposits and conducting all transactions from the convenience of users’ homes.
We are also thoroughly invested in upskilling media professionals to hone their technological capacities and know-how. Shams Media Services, our commercial arm, entered into a strategic partnership with Omnes Media, which specializes in developing and managing digital media and marketing solutions, to develop and operate the Omnes Influencers digital platform for the UAE and the world. Shams Media Services is still working with Omnes Media to develop the platform with the help of some of the best local and international experts in this field.
We aim to coach a new generation of social media influencers, offering them accredited academic, training, and professional programs. Our participation in Seamless 2020 as an official sponsor allowed 12 companies registered with Shams to showcase their technological and digital products and services. In the same vein, Shams recently launched a virtual series titled Shams Talks – an interactive digital initiative that aims to tackle many important topics for discussion to develop the business and media environment. We have made tangible progress in our efforts to strengthen the video game sector in the UAE, where we have partnered with influential stakeholders to promote this promising sector in the UAE and the region in partnership with various stakeholders.
A major strength of UAE is its vivid and diversified form of partnerships that it holds both locally and internationally. Would you like to comment upon a few of your remarkable business partnerships?
Shams is committed to working with our many and diverse partners to drive our mission to position Sharjah Media City and the Emirate of Sharjah as a whole at the fore of the national, regional, and global media industry. Shams has also signed an MoU with the Ministry of Finance to facilitate the exchange of information for tax purposes, as part of the UAE’s tax agreements. Moving forward, Sharjah Media City will consistently provide tax information to the Ministry of Finance to support the UAE’s efforts to avoid double taxation.
We are committed to cooperating with ministries and government entities in the UAE to drive sustainable development and help grow the national economy. While we’re on the subject of finance, Shams also entered into an agreement with Mashreq Bank to support small and medium enterprises (SMEs) in the Emirate of Sharjah.
Mashreq Bank has pledged to help tackle one of the biggest challenges facing SMEs – opening a business account for their companies. The MoU allows SMEs located in Sharjah Media City to open an account in the digital bank NEOBiz to start their business. Shams has also built academic partnerships, including our agreement with Skyline University College to offer more than AED2 million in scholarships.
What are your plans on behalf of Shams for the much-awaited Expo 2020?
We always find the best in class in their respective fields. At the Expo, we are going to look into what each country is going to offer and present. We want to utilize and adopt the creative ones that have already got results-proven, here in the media and creative sector.
What message do you have for our readers?
I hope people enjoy reading the interview and let’s all meet at Expo 2020.
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