By publishing a report, Statista said that the United Arab Emirates, with more than 5,600 startups registered across the country by the second quarter of 2024, has ranked at the top of the Gulf Cooperation Council countries as a leading incubator for startups.
Publish dateSaturday 19 October 2024 - 14:45
According to Amac News: The Statista report states that the data shows that the United Arab Emirates is the leader in the fintech startup sector in the region and currently more than 550 companies are operating in this field.
A recent report by global consulting and research firm, Startup Genome, has confirmed that the UAE's various emirates have continued to advance in international rankings, emerging as the fastest growing startup ecosystems in the region.
This growth is led by the emirates of Abu Dhabi, Dubai and Sharjah, which fosters continuous and sustainable growth for start-ups by creating an active and motivating environment in key sectors.
According to the report, Abu Dhabi maintained its position as the fastest growing startup ecosystem in the Middle East and North Africa between the second half of 2021 and the end of 2023, achieving a value of $4.2 billion in its startup ecosystem.
The report shows that early-stage startup funding totaled US$224 million, while venture capital funding exceeded US$1 billion between the second half of 2021 and 2023.
Startups operating under the Hub71 umbrella continue to create significant job opportunities across various sectors in the emirate, currently offering more than 423 job roles across 126 companies.
Meanwhile, Dubai has strengthened its leadership in creating ecosystems that support the growth of startups, topping global and regional startup ecosystem assessments.
Dubai ranked first in the Persian Gulf and second in the region in terms of startup genome with an ecosystem value of more than 23 billion US dollars by the end of 2023.
In5, a subsidiary of TECOM Group, has supported 1,000 startups and raised AED 7.8 billion in funding since its inception in 2013, and continues to play a pivotal role in promoting the sustainable economic growth of these companies in Dubai.
With a significant contribution to business growth in the UAE, Sharjah has a global presence, hosting around 60,000 small, medium and start-up companies distributed across six free zones and 33 industrial zones.
The value of Sharjah's startup ecosystem reached $424 million by the end of last year, and its initial funding totaled $39 million.
A recent report by global consulting and research firm, Startup Genome, has confirmed that the UAE's various emirates have continued to advance in international rankings, emerging as the fastest growing startup ecosystems in the region.
This growth is led by the emirates of Abu Dhabi, Dubai and Sharjah, which fosters continuous and sustainable growth for start-ups by creating an active and motivating environment in key sectors.
According to the report, Abu Dhabi maintained its position as the fastest growing startup ecosystem in the Middle East and North Africa between the second half of 2021 and the end of 2023, achieving a value of $4.2 billion in its startup ecosystem.
The report shows that early-stage startup funding totaled US$224 million, while venture capital funding exceeded US$1 billion between the second half of 2021 and 2023.
Startups operating under the Hub71 umbrella continue to create significant job opportunities across various sectors in the emirate, currently offering more than 423 job roles across 126 companies.
Meanwhile, Dubai has strengthened its leadership in creating ecosystems that support the growth of startups, topping global and regional startup ecosystem assessments.
Dubai ranked first in the Persian Gulf and second in the region in terms of startup genome with an ecosystem value of more than 23 billion US dollars by the end of 2023.
In5, a subsidiary of TECOM Group, has supported 1,000 startups and raised AED 7.8 billion in funding since its inception in 2013, and continues to play a pivotal role in promoting the sustainable economic growth of these companies in Dubai.
With a significant contribution to business growth in the UAE, Sharjah has a global presence, hosting around 60,000 small, medium and start-up companies distributed across six free zones and 33 industrial zones.
The value of Sharjah's startup ecosystem reached $424 million by the end of last year, and its initial funding totaled $39 million.
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Source : news agency wam
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