UAE emerges as leading regional hub for startups

The UAE has strengthened its position as a top hub for startups, driven by its attractive investment environment, flexible business policies, and innovation-focused legislation.

International institutions have ranked the UAE highly for its start-up ecosystem, reflecting ongoing efforts to foster innovation.

Recent data from Statista shows the UAE leads the GCC, with over 5,600 start-ups registered by the second quarter of 2024. It is also a leader in the fintech sector, with more than 550 fintech companies currently operating in the country.

A report by Startup Genome confirms the UAE’s rapid rise in global rankings, with Abu Dhabi, Dubai and Sharjah showing significant growth.

Abu Dhabi was noted as the fastest-growing start-up ecosystem in the MENA region, with a start-up ecosystem valued at $4.2 billion between 2021 and 2023.

Hub71 in Abu Dhabi has been central to this growth, attracting tech start-ups that contribute to tackling global challenges.

Meanwhile, Dubai continues to lead regionally, with a start-up ecosystem valued at over $23 billion by the end of 2023. Dubai's In5 initiative, a TECOM Group subsidiary, has supported over 1,000 start-ups and raised AED 7.8 billion in funding since 2013.

Sharjah, with its 60,000 small and medium-sized businesses, also contributes significantly to the UAE’s start-up scene, with a start-up ecosystem valued at $424 million by the end of 2023.

The UAE's start-up success highlights its growing global influence as a key player in fostering economic innovation and growth.