Over 5,600 startups registered in UAE by mid-2024, driving innovation
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by Balikbayan Store
1 min reading time
The UAE has solidified its reputation as a leading destination for start-ups, thanks to its favorable investment climate, flexible business policies, and focus on innovation. International rankings recognize the UAE’s flourishing start-up ecosystem, which has attracted global attention.
According to Statista, the UAE leads the GCC region with over 5,600 registered start-ups by mid-2024. The fintech sector is particularly strong, boasting more than 550 companies.
A Startup Genome report highlights the rapid growth of Abu Dhabi, Dubai, and Sharjah, with Abu Dhabi emerging as the fastest-growing ecosystem in the MENA region, valued at $4.2 billion. Dubai’s start-up ecosystem is valued at over $23 billion, bolstered by initiatives like In5, which has supported 1,000 start-ups and raised AED 7.8 billion since 2013. Sharjah, home to 60,000 SMEs, also plays a significant role, with an ecosystem valued at $424 million.
These figures demonstrate the UAE’s rising influence in fostering innovation and driving economic growth on a global scale.
