The UAE has cemented its status as a premier hub for start-ups, fueled by an attractive investment landscape, flexible business policies, and innovation-centric legislation.
International institutions affirm that the UAE leads in global start-up indicators, reflecting its ongoing commitment to fostering a supportive environment for innovation.
According to recent statistics from Statista, the UAE topped the GCC as the leading incubator for start-ups, boasting over 5,600 registered companies by Q2 2024. The fintech sector particularly thrives, with more than 550 companies operating in this area.
A report from Startup Genome highlights the rapid growth of the UAE’s start-up ecosystems, particularly in Abu Dhabi, Dubai, and Sharjah. Abu Dhabi has maintained its position as the fastest-growing ecosystem in the Middle East and North Africa, achieving a valuation of US$4.2 billion from 2021 to 2023. The report noted that early-stage funding reached US$224 million, while venture capital investments exceeded US$1 billion, bolstered by Abu Dhabi's Hub71 tech ecosystem.
Ahmad Ali Alwan, CEO of Hub71, remarked that the emirate is witnessing increased interest from tech start-ups addressing global challenges and generating economic value. He emphasized Hub71's focus on sustainability through initiatives like the Hub71+ ClimateTech ecosystem.
In Dubai, the start-up ecosystem is valued at over US$23 billion, making it the second largest in the region. Since its launch in 2013, In5 has supported 1,000 start-ups, raising AED7.8 billion in funding. Meanwhile, Sharjah continues to grow with around 60,000 small and medium-sized enterprises, solidifying the UAE’s reputation as a vibrant start-up landscape.
News Source: Emirates News Agency
