Bahrain among region’s top start-up ecosystems

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Bahrain

Bahrain among region’s top start-up ecosystems

MANAMA: Bahrain’s start-up ecosystem has emerged as a leading regional challenger, second only to Amman in Jordan, according to new research. The Global Startup Ecosystem Report 2021 (GSER2021) by Startup Genome and the Global Entrepreneurship Network notes that affordable talent and funding have made the kingdom one of the top 10 in the region in terms of technical talent and among the top 15 ‘Bang for Buck’ ecosystems – which measures the average amount of venture capital of start-ups working in the technology sector. According to the GSER2021, which was released yesterday during London Tech Week 2021, Bahrain’s start-up ecosystem is valued at over $100m with more than $50m in early stage funding. Counting Bahrain among the top 15 in the Mena region in terms of the ability to generate and retain talent, the report also includes the country among the top 15 in assessing the size and performance of ecosystems based on the accumulated tech start-up value created from exits and funding. The nation’s young, highly-skilled workforce with the best human capital development in the Mena region is a key strength, notes the report. Over 70 per cent of tech industry employees are local Bahrainis, 60pc are in the

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