Tel Aviv Leads: Discover MENA’s Top Startup Ecosystems

MENA ecosystems have shown impressive growth in the GSER 2024. Insights include:

• The top five ecosystems in MENA are Tel Aviv, Dubai, Cairo, Riyadh, and Abu Dhabi.

• Tel Aviv is the only MENA ecosystem ranking in the Top 40 and remains the region’s leading ecosystem, globally moving up one place to #4 (tied with Los Angeles).

• Dubai scored a 10 out of 10 in the Funding, measuring innovation through early-stage funding and investor’s activity. It has five unicorns, one of 19 emerging ecosystems with four or more unicorns in the last 10 years.

• Cairo moved up in the Emerging Ecosystems Ranking from last year’s 51 - 60 range to the 41 - 50 range. It is the #1 MENA Ecosystem in Bang for Buck, measuring the amount of runway tech startups acquire, on average, from a VC round.

• Riyadh and Abu Dhabi both moved up in the Emerging Ecosystems Ranking – Riyadh from last year’s 61-70 range to 51-60 and Abu Dhabi from the 81–90 range to the 61-70 range. Abu Dhabi ranks #2 MENA Ecosystem in Performance, measuring the size and performance of an ecosystem based on the accumulated tech startup value created from exits and funding.

• Muscat created $313 million in Ecosystem Value from Jul 01, 2021 to Dec 31, 2023. Ecosystem Value is a measure of economic impact, calculated as the value of exits and startup valuations.

• Sharjah created $424 million in Ecosystem Value from Jul 01, 2021 to Dec 31, 2023. Ecosystem Value is a measure of economic impact, calculated as the value of exits and startup valuations. It is the #5 MENA Ecosystem in Bang for Buck, measuring the amount of runway tech startups acquire, on average, from a VC round.

Tel Aviv - #1

“Israel is one of Nvidia's largest hubs in terms of population ratio. It's also home to some of our most talented engineers. One of our most significant investments, NVSwitch, originated from Israel,” says Jensen Huang, Founder & CEO, NVIDIA GTC.

Abu Dhabi - #5

“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.

Bahrain - #10

"Bahrain continues to bolster its positioning as a leading startup hub in the region. The Kingdom has taken large strides in fostering a supportive startup ecosystem, while also championing innovation by enabling skill development and providing access to funding for entrepreneurs," shares Maha Mofeez, Chief Executive of Tamkeen.

For more insights, explore our MENA ecosystem pages:

• Abu Dhabi

• Bahrain

• Muscat

• Palestine

• Sharjah

• Tel Aviv

• Tunisia

To learn more about ecosystem performance around the world, read the full, free Global Startup Ecosystem Report 2024.