UAE stays in top 50 startup destinations

UAE stays in top 50 startup destinations

Dubai, Abu Dhabi and Sharjah leap in global rankings as govt plays key role.. The UAE and Bahrain rank among the world's top 100 startup destinations as well as the top two most-preferred ecosystems for startups in the Gulf region.. Saudi Arabia also improved its ranking by jumping 213 points to rank 281st globally.. The study said the UAE was recognised for the potential of its Arab-speaking market and close involvement of the government in the local startup ecosystem.. A report by Magnitt shows that the UAE remained the most active startup ecosystem in the region with 26 per cent of all deals, followed by Egypt (21 per cent), and Lebanon (13 per cent).. The Magnitt study shows that the number of investments in Mena-based startups was up 31 per cent in 2019, with 564 investments and $704 million in total funding, up 13 per cent compared to 2018, excluding previous mega-deals in Souq and Careem.. Eli David, chiefexecutive officer of StartupBlink, said good startup ecosystems are fundamental.. As an entrepreneur, location will greatly influence the chances your startup will succeed.". David said knowing how well your ecosystem performs is also important. ". Corporations use the rankings to make decisions