The Global Startup Ecosystem Report (GSER) by Startup Genome has revealed that Abu Dhabi’s tech startup ecosystem has seen a significant 28% value growth between 2021 and late 2023.
The report analysed data from over 4.5 million companies globally to rank the top 40 startup ecosystems worldwide. Abu Dhabi has jumped 15 spots from the previous year, placing its ecosystem between 61st and 70th globally.
Ecosystem value, a measure of economic impact, has risen to $4.2 billion. Total early-stage funding between 2021-2023 reached $284 million, whilst total venture capital funding over 2019-2023 was $1.06 billion.
Abu Dhabi continues to be the fastest-growing emerging ecosystem in the Middle East and North Africa region, with its performance, funding, talent, knowledge, and affordability highlighted.
“Abu Dhabi’s rise as a leading startup ecosystem in the region is a testament to the opportunities it offers entrepreneurs worldwide,” said Ahmad Ali Alwan, CEO of Hub71, Abu Dhabi’s global tech ecosystem located in Masdar City.
Key players like ADGM, Mubadala, ADQ, and others have contributed to favourable conditions for attracting foreign investment and startups, with incentives such as 100% foreign ownership. The emirate’s strategic location and ‘Golden Visa’ scheme are also noted as key attractions.
As the Startup Genome report shows, Hub71 is fulfilling the vision of Abu Dhabi’s leadership to maximize the potential of disruptive ventures that are transforming society with impact.
With its ecosystem on the rise, Abu Dhabi is becoming an increasingly attractive destination for entrepreneurs and startups looking to scale globally.
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