Friday, June 21, 2024
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Startup Ecosystem Value in Abu Dhabi Surges by 28%.

The 2024 Global Startup Ecosystem Report (GSER) by Startup Genome and the Global Entrepreneurship Network, which was unveiled on Monday at London Tech Week, has ranked Abu Dhabi as the fastest-growing emerging ecosystem in the Middle East and North Africa (Mena), representing a 28% growth in ecosystem value.

The GSER evaluates data from more than 4.5 million businesses across more than 300 entrepreneurial innovation ecosystems. It is powered by the most meticulously curated dataset of startup ecosystems. Together with ranking the Top 40 global ecosystems, emerging ecosystems, and an expanded regional ranking, it offers fascinating new insights and in-depth knowledge about startup trends worldwide.

The #GSER2024 report indicates that Abu Dhabi is still the fastest-growing emerging ecosystem in the MENA region. This finding is part of Startup Genome’s analysis of the UAE’s capital city, which also includes the expanding startup activity at Hub71, Abu Dhabi’s global technology ecosystem.

The ecosystem’s value increased by 28% compound annual growth from July 1, 2021 to December 31, 2023, to $4.2 billion. This is in comparison to the same period in 2019 and 2021. Value of exits and startup valuations are combined to determine ecosystem value, which is a metric of economic effect.

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