Dubai Chamber of Digital Economy launches report on Dubai’s venture capital ecosystem

Dubai Chamber of Digital Economy launches report on Dubai’s venture capital ecosystem

Al Olama: The UAE’s advanced digital ecosystem has accelerated the development of the entrepreneurship sector and contributed to significant growth in its activity. Al Olama: The results in the report reflect our long-term commitment to developing smart digital solutions and deploying these to build a new and future-facing model for the economic sector. Al Olama: The country’s proactive vision in developing legislation and initiatives in the digital field has attracted unicorn companies and investors from around the world and consolidated the UAE's position as a global hub for the digital economy. Growth of funding in the MENA region has exceeded US$4 billion in 2021 and 2022. In the US$100 million to US$1 billion range, funding rounds increased by more than 100% between 2021 and 2022. 26% increase in number of scale-ups in Dubai between 2021 and 2022, from 242 to 306 scale-ups. More than 30% of the funding rounds are attributed to start-ups headquartered in Dubai. 749 scale-ups in MENA region, raised US$19.5 billion in last decade (2012-2022). 40% of MENA's scale-ups based in Dubai. In 2022, Dubai based startups raised over US$2 billion. Dubai's 306 scale-ups raised over US$11.7 billion in funding in past decade, around 60% of the