UAE Startup Ecosystem Gets More Invested than Germany and Brazil

The top 3 startup ecosystems in the MENA region, namely, the UAE, Saudi Arabia and Egypt have wildly varying VC investment activity.

As a percentage of GDP, Saudi Arabia's VC deployment is only 0.03%, while Egypt's is 0.05%. United Arab Emirates VC ecosystem amounts to 0.26% of the country's GDP, which is higher than that of Brazil (0.2%) and Germany (0.24%), but lower than South Korea, China, India, UK, USA, and Singapore.

Singapore is the only country to break the 1% mark, and by a strong margin; Singapore has the highest VC deployment as a percentage of GDP, with VCs investing 1.86% of GDP into its startup ecosystem.

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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.

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