A new emphasis on frugality, sustainable revenue models, and robust business metrics in the startup ecosystem:
- Global startup funding is experiencing turbulence, leading to a shift towards frugality and sustainable revenue models.
- Dubai and the wider UAE have shown remarkable vitality in early-stage investments, outpacing other countries in the MENA region.
Impressive growth in the UAE's digital economy and startup investments:
- The UAE secured $150 million across 30 deals in the initial quarter of 2023.
- The region's digital economy is expected to reach $140 billion by 2031.
Dubai's startups raise $2 billion in funding, with notable activity in July:
- Dubai's startups collectively raised $2 billion in funding.
- July saw increased investor activity, driven by startups like Tendered, Growdash, and Get Outfit.
UAE-based startups in Dubai receive majority of funding and dominate scale-up startups:
- 87% of funding rounds for UAE-based companies target startups in Dubai.
- 40% of all scale-up startups in MENA are based in the UAE, with nearly 90% located in Dubai.
Dubai's thriving startup ecosystem and significant M&A activity:
- Dubai is a vibrant hub in the MENA region, attracting investment and fostering innovation.
- Record exits and a surge in M&A activity demonstrate the region's flourishing startup milieu.