Why Dubai is the Region's Top Investable Startup Ecosystems

By Ashok Raman, 11 July 2023

Top Investable Startup Ecosystems in the Region

The last 3 years have seen UAE dominating the MENA funding landscape with over US$3 billion in capital raise in 2021 and 2022. What’s impressive is that Saudi Arabia and UAE are the two countries that crossed the US$1 billion mark in 2022 with approximately average funding value of US$17.1 million for UAE and US$18.8 million for Saudi Arabia.

Egypt is the next country which has consistently ranked in the top 5, exhibiting an increasing average funding value between 2020 and 2022.

Bahrain was in the top 5 during 2020 and 2021, however wasn’t in 2022. Instead, Lebanon takes the 4th position in 2022. The 5th ranked country has changed hands from Kuwait to Jordan to Algeria.

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Dubai's Venture Capital Ecosystem

There are 749 scale-ups that have raised over US $1 million in fundraising in the Middle East and North Africa region; collectively raising over US $19.5 billion, cumulatively, as of December 2022. Over 40% of these scale-ups call Dubai home.