The UAE has established its regional position as one of the most prominent incubators for startups, thanks to its attractive and integrated investment environment, flexible business policy and legislation that encourages innovation in the country.
According to international institutions, the UAE is at the top of global indicators related to start-up companies, thanks to its continuous efforts in creating an investment environment that is attractive and supportive of ranking innovation in advanced roles within competing brands.
According to the latest statistical data of STATISTA, the UAE topped the list as the highest startup country in the Gulf country, with more than 5,600 startups registered throughout the country, until the second quarter of this year 2024.
The data confirmed that the UAE leads the financial technology startup position in the region, as it currently owns more than 550 companies specialized in this field.
Reports published recently by the global consulting and research group “Start-Up Genome” confirmed that the various emirates of the country continue to move forward in international indicators, and emerge as the fastest growing startup ecosystems in the region, led by the emirates of Abu Dhabi. , Dubai, and Sharjah, as these support continuous and sustainable growth for startups thanks to creating a proactive and stimulating environment in specific sectors.
In a report by the Foundation, Abu Dhabi maintained its position as the fastest growing startup ecosystem in the Middle East and North Africa region, in the period between the second half of 2021 and the end of the year last year 2023, achieving in the same period $ 4.2 billion in value in its startup ecosystem.
According to the report, the total financing of companies in the early stages of establishment reached about $ 224 million, and the total risk capital funding between the second half of 2021 and 2023 reached more than one billion dollars, thanks to the growing activity of startup companies . operates under the umbrella of Abu Dhabi’s global technology ecosystem “Hub71.”
Ahmed Ali Alwan, CEO of Hub71, said in a statement to Emirates News Agency, WAM: “Hub71 is seeing increasing demand from emerging technology companies, which will contribute to addressing on global challenges, achieving significant economic value, and creating new job opportunities in Abu Dhabi.” “.
He also said that the startup community in the emirate continues to grow, driven by the existing programs implemented by Hub71, its strategic partnerships, and its commitment to innovation, which will strengthen the position Abu Dhabi is a rapidly growing global center in the field of technology. .
He emphasized Hub71’s desire to support emerging companies in various sectors. Introducing the sustainability sector, through the “Hub71+ ClimateTech” climate technology system, in line with Abu Dhabi’s economic vision, and opening a broad perspective for innovation and growth.
He explained that Hub71 aims to provide startups with access to capital, talent, and institutional partnerships, and support entrepreneurs to scale their business quickly, thus ‘ enabling successful projects and contributing to an integrated system capable of supporting the economy of Abu Dhabi.
It is worth noting that startup companies operating under the umbrella of “Hub71” continue to create good job opportunities in the various sectors of the emirate. It currently provides over 423 different job opportunities in 126 companies.
For its part, the Emirate of Dubai has strengthened its leadership in creating environmental systems that support the growth of start-up companies, thus leading the global and regional scene, among the main centers for the value of ecosystems for startups.
Dubai was also in first place in the Gulf and second in the region in this area, after the value of ecosystems reached more than $ 23 billion by the end of 2023, according to Startup Genome.
TECOM’s “In5” has contributed to supporting a thousand start-ups, and has raised funds up to 7.8 billion dirhams since its establishment in 2013, and continues to play an important role in promoting growth economic sustainability of these companies in the Emirate of Dubai. .
The Emirate of Sharjah, the “Capital of Culture,” is in a global position in making many contributions to the growth of business in the country, by introducing about 60,000 small, medium and new companies are distributed in six free zones and 33 industrial zones.
The value of the startup ecosystem in the emirate reached about $424 million at the end of last year, and the total amount of early funding reached $39 million.
2024-10-19 07:22:00
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