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Top MENA Ecosystems in 2024
The MENA region's startup ecosystems are gaining global recognition, with Tel Aviv leading the region, securing the 4th spot globally, tied with Los Angeles, and remains the only MENA ecosystem in the Top 40 Global Leaders. Dubai, ranking second in the region, boasts remarkable achievements with a perfect 10/10 in Funding and five unicorns to its name, further solidifying its reputation as a hub for innovation and investment.
Cairo has climbed the rankings in the Emerging Ecosystems list, now in the 41-50 range, and holds the top spot in "Bang for Buck," which measures the value startups gain from venture capital rounds. Riyadh and Abu Dhabi have also made significant strides, with Riyadh advancing to the 51-60 range and Abu Dhabi achieving the second-highest performance in MENA for ecosystem value creation.
Sharjah and Muscat are making their mark as well, generating US $424 million and US $313 million in ecosystem value, respectively, showcasing the region's increasing economic impact.
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Dubai’s Digital Economy and Its Expanding Startup Ecosystem
Dubai’s startup ecosystem will have raised over USD 2 billion by the end of 2022, with self-employed and digital economy roles tripling. Few MENA markets have a 20-year-old startup ecosystem birthing multiple unicorns. Dubai has been the digital startup hub for tech giants and new unicorns alike. Since 2017, Dubai has raised 96% of UAE’s funds, totaling over USD 2 billion by October 2022. LinkedIn data shows a booming digital economy job market with increasing opportunities and remote work options. Learn from top home-grown startups and global transplants why Dubai is poised to become the next digital economy capital of the world.
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