The UAE has solidified its regional standing as one of the foremost hubs for start-ups, thanks to its attractive and integrated investment environment, flexible business policies, and innovation-driven legislation.<\/p>\n\n\n\n
According to international institutions, the UAE leads global indicators related to start-ups due to its continuous efforts in creating a supportive investment environment for innovation. These efforts have also reflected positively on the country’s ranking in global competitiveness indices.<\/p>\n\n\n\n
Recent statistics from Statista reveal that the UAE topped the GCC countries as the leading incubator for start-ups, with over 5,600 start-ups registered across the country by the second quarter of 2024.<\/p>\n\n\n\n
The data highlighted that the UAE is leading the region in the fintech start-up sector, with over 550 companies currently operating in this field.<\/p>\n\n\n\n
A recent report by the global consulting and research firm, Startup Genome, affirmed that the UAE\u2019s various emirates continue to advance in international rankings, emerging as the fastest-growing start-up ecosystems in the region.<\/p>\n\n\n\n
This growth is driven by the emirates of Abu Dhabi, Dubai, and Sharjah, which foster continuous and sustainable growth for start-ups by creating a proactive and incentivising environment in key sectors.<\/p>\n\n\n\n
According to the report, Abu Dhabi maintained its position as the fastest-growing start-up ecosystem in the Middle East and North Africa between the second half of 2021 and the end of 2023, achieving US$4.2 billion in value within its start-up ecosystem during the same period.<\/p>\n\n\n\n
The report also indicated that early-stage start-up funding totalled US$224 million, while venture capital funding between the second half of 2021 and 2023 exceeded US$1 billion, driven by the growing activities of start-ups operating under Abu Dhabi\u2019s global tech ecosystem, Hub71.<\/p>\n\n\n\n
In a statement to the Emirates News Agency (WAM), Ahmad Ali Alwan, CEO of Hub71, said, “Hub71 is witnessing increased interest from tech start-ups that are contributing to tackling global challenges, creating significant economic value, and generating new job opportunities in Abu Dhabi.”<\/p>\n\n\n\n
He added that the emirate’s start-up community continues to grow, driven by Hub71\u2019s dedicated programmes, strategic partnerships, and commitment to innovation, which strengthens Abu Dhabi\u2019s position as a leading and fast-growing global technology hub.<\/p>\n\n\n\n
Alwan also emphasised Hub71’s ambition to further support start-ups across various sectors, including sustainability, through the Hub71+ ClimateTech ecosystem, in line with Abu Dhabi\u2019s economic vision and the aim of fostering innovation and growth.<\/p>\n\n\n\n
He explained that Hub71 focuses on facilitating start-ups’ access to capital, talent, and corporate partnerships, supporting entrepreneurs in scaling their businesses rapidly, thereby enabling successful ventures and contributing to an integrated ecosystem capable of supporting Abu Dhabi’s economy.<\/p>\n\n\n\n
Start-ups operating under the Hub71 umbrella continue to create significant job opportunities across various sectors in the emirate, currently providing more than 423 job roles across 126 companies.<\/p>\n\n\n\n
Meanwhile, Dubai has strengthened its leadership in creating ecosystems that support start-up growth, ranking at the top of both global and regional start-up ecosystem valuations.<\/p>\n\n\n\n
Dubai ranked first in the Gulf and second in the region in this field, with the ecosystem value reaching over US$23 billion by the end of 2023, according to Startup Genome.<\/p>\n\n\n\n
In5, a TECOM Group subsidiary, has supported 1,000 start-ups, raising AED7.8 billion in funding since its inception in 2013, continuing to play a pivotal role in promoting the sustainable economic growth of these companies in Dubai.<\/p>\n\n\n\n
Sharjah holds a global position by making significant contributions to business growth in the UAE, hosting around 60,000 small, medium, and start-up companies distributed across six free zones and 33 industrial zones.<\/p>\n\n\n\n
The value of Sharjah’s start-up ecosystem reached US$424 million by the end of last year, with early-stage funding totalling US$39 million.<\/p>\n","protected":false},"excerpt":{"rendered":"
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