5,600 Startups Registered by Mid-2024.
Recent data from “Statista” revealed that the UAE has emerged as the leading Gulf country in fostering startups.
With over 5,600 companies registered by mid-2024.
The fintech sector is particularly strong, with more than 550 companies operating in this field within the UAE.
The UAE has established itself as a leading hub for startups in the region.
Due to its attractive investment environment, flexible business policies, and innovation-focused legislation.
UAE Advancing in International Indicators.
International bodies recognize the UAE’s efforts in fostering an innovation-friendly climate.
As they have positively impacted its global competitiveness rankings.
Recent reports from the global research and consulting firm “Startup Genome” confirmed that most of emirates in the UAE continue to advance in international indicators.
Standing out as one of the fastest-growing startup ecosystems in the region.
Abu Dhabi, Dubai, and Sharjah lead the way, supporting the continuous and sustainable growth of startups.
Dubai – the 1st in Gulf Region
Dubai ranked first in the Gulf and second in the region in this field.
Mentioning that its ecosystem is valued at over $23 billion by the end of 2023, according to “Startup Genome.”
Tecom’s “In5” initiative has supported 1,000 startups.
It raised up to AED 7.8 billion in funding since its inception in 2013, contributing to the sustainable growth of these companies in Dubai.
His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the State, may God protect him, will begin an official visit to the Russian Federation next Monday, October 21, 2024, during which he will participate in the BRICS Summit. pic.twitter.com/xMTY2IFzxi
— UAE Voice (@uae_voiceeng) October 18, 2024
Why is Dubai Chosen by Startups to Start Their Businesses ?
Dubai has become one of the best destinations for startups.
Here’s why:
- Business-Friendly Environment
- Innovation-Driven Ecosystem
- Access to Funding
- Strategic Location
- World-Class Infrastructure
- Government Support and Initiatives
- Diverse Talent Pool
- Quality of Life
- Access to Global Events and Networks
These factors, combined with Dubai’s proactive policies and strong commitment to innovation and entrepreneurship, made it one of the best destinations for startups looking to launch and scale their businesses.
