Hub 71 and Startup Genome have teamed up to spotlight Abu Dhabi’s entrepreneurial ecosystem in the Global Startup Ecosystem Report:

• The ecosystem created $4.2 billion in Ecosystem Value from Jul 01, 2021 to Dec 31, 2023, representing 28% compound annual growth compared to Jul 01, 2019 to Dec 31, 2021 time period. Ecosystem Value is a measure of economic impact, calculated as the value of exits and startup valuations.

• #2 MENA Ecosystem in Performance — measures the size and performance of an ecosystem based on the accumulated tech startup value created from exits and funding

• #5 MENA Ecosystem in Funding — measures innovation through early-stage funding and investor’s activity

• #5 MENA Ecosystem in Talent & Experience — measures long-term trends over the most significant performance factors

• Top 10 MENA Ecosystem in Knowledge — measures innovation through research and patent activity

• Top 15 MENA Ecosystem in Bang for Buck — measures the amount of runway tech startups acquire, on average, from a VC round

• Top 15 MENA Ecosystem in Affordable Talent — measures the ability to hire tech talent

• The Fintech, Climatetech and Web3 and Digital Assets sectors are highlighted for their density of talent, support resources, and startup activity

• The Golden Visa and strategic location are cited as reasons a startup should move to the ecosystem

“Our technology ambitions are being realized by Abu Dhabi’s underlying commitment to supporting transformative ventures that are making an impact globally while advancing our Falcon Economy for the long-term prosperity of the Emirate,” says H.E. Ahmed Jasim Al Zaabi, Chairman of the Abu Dhabi Department of Economic Development (ADDED), Chairman of Hub71.

The report highlights Abu Dhabi’s five specialized free zones including, Abu Dhabi Airport Free Zone, Abu Dhabi Global Market (ADGM), Masdar City Free Zone, Khalifa Industrial Zone, and twofour54 Media & Entertainment Hub, which offer unique incentives such as 100% foreign ownership to attract foreign investment and startups into the economy. In fact, numerous companies are relocating their global headquarters to ADGM, among them U.S.-based digital asset security firm Andalusia Labs and South Korean blockchain company Neoply. Hub71, Abu Dhabi’s tech hub, hosts a network of over 250 startups that have collectively raised $1.47 billion. Hub71’s Bright program, operated by SG Hypergrowth, has just launched for top-performing startups to continue their growth journey from Abu Dhabi to worldwide.

"Thanks to the excellent work of Hub71, Abu Dhabi is one of the rare places where everyone comes together to create a world-class startup ecosystem at an incredible pace," shares Marc Penzel, Founder & President of Startup Genome. "Whether it's digital assets, Cleantech, or other fast-growing opportunities, Abu Dhabi should be on the radar of any entrepreneur with outsized global ambitions."

For more insights and an overview of Abu Dhabi’s startup landscape, visit Abu Dhabi’s ecosystem page.

To learn more about startup ecosystems around the world, view the full, free Global Startup Ecosystem Report.