The UAE is leading the regional scene as an incubator for startups thanks to its integrated investment environment.
The United Arab Emirates has strengthened Its position as one of the most prominent host countries For startups in the region, thanks to its integrated investment environment and policies that support innovation and technology.
International reports confirmed that the UAE tops global indicators related to emerging companies, which reflects the success of the country’s efforts to enhance the business environment and embrace innovative ideas, according to the Emirates News Agency.(WAM)
More than 5,600 startups in the UAE until mid-2024
According to data released by STATISTA, the UAE has made significant progress with the number of registered startups reaching more than 5,600 by the second quarter of 2024. The Gulf state tops the list of regional countries that incubate startups, reflecting the attractive environment it offers to investors and entrepreneurs.
Pioneering in FinTech
Data shows that the UAE is leading the fintech startup scene in the region, with more than 550 companies operating in the field.
Abu Dhabi and Dubai lead growth in startup indices
According to the Start-Up Genome report, the emirates, especially Abu Dhabi and Dubai, continue to make significant progress in startup growth indicators.
The report added that Abu Dhabi is the fastest growing startup ecosystem in the Middle East and North Africa region, achieving growth of $4.2 billion during the period from 2021 to 2023.
Total funding for early-stage companies reached $224 million, while total venture capital funding between the second half of 2021 and 2023 amounted to more than $1 billion.
Hub71 in Abu Dhabi supports startups
According to the Emirates News Agency, Ahmed Ali Alwan, CEO of Hub71, confirmed that the platform is witnessing increasing demand from emerging technology companies, which contributes to facing global challenges and creating new job opportunities. Hub71 also works to enhance support for emerging companies in various sectors, including sustainability and climate technology.
Dubai leads the regional scene in supporting startup ecosystems
The Emirate of Dubai ranked first in the Gulf and second in the region in supporting startup ecosystems, with the value of these ecosystems reaching about $23 billion by the end of 2023, according to Startup Genome.
TECOM’s In5 continues to support thousands of startups, with funding reaching AED 7.8 billion since its inception.
Sharjah continues to support business growth in the country
The Emirate of Sharjah also plays a major role in supporting business growth by hosting around 60,000 small, medium and emerging companies, and 33 industrial zones. The value of the startup ecosystem in the emirate reached around $424 million, and the total early funding reached $39 million, which enhances its contribution to the national economy.
