Start-ups in the UAE account for 88 percent of whole deal value of the region
UAE start-ups secured USD 31.36 million in investments which account for 88 percent of the whole deal value of the region. Local Services, Ecommerce & Financial Services are the top three industries accounting for 44 percent of the entire deal count. In addition, logistics (9.3 percent), software (7.1 percent), media (4.6 percent), education (4.6 percent) and transportation (4.6 percent) are other industries that were a part of the deal.
These statistics were announced as Dubai gets close to host AIM Startup, which will be held from 8th to 10th April, in conjunction with Annual Investment Meeting (AIM).
“The start-up ecosystem is fast changing. Just a few years ago, start-ups seemed like the purview of a niche circle, but fast forward today, and start-ups are hitting the mainstream business culture, emerging at an unprecedented rate,” said Dawood Al Shezawi, Chairman of the Organizing Committee of AIM Startup.
AIM Startup is an initiative of the UAE Ministry of Economy, that aims to connect promising start-ups with investors and business partners from all around the world. It is set in the heart of UAE’s Annual Investment Meeting and will serve as an ideal platform for start-up companies looking to raise capital, expand into new markets and forge meaningful business relationships with major investors, business leaders, representatives of international institutions and government entities. This year, 500+ promising start-ups will convene under one roof to meet with investors, corporates, government representatives and industry experts and will be given the opportunity to demonstrate their ground-breaking solutions to a global audience.
While most sectors have witnessed unprecedented growth in start-ups, fintech, cybersecurity, and blockchain are the drivers of a robust start-up ecosystem.
“Disruptive technologies as robotics, virtual reality and internet of things (IoT) are already transforming the start-up landscape, and we are confident that coming years will witness greater results, considering the impactful growth tech start-ups have made,” added Dawood Al Shezawi.
While the global economy expected to grow 3 percent per annum and double by 2038 to $150 trillion per year, it is anticipated that the economy will experience a robust growth if technology start-ups maintain the exponential pace.
At the upcoming AIM Startup, which will be host to over 20,000 visitors, experts will offer investors and entrepreneurs continued support of the public and private sector to provide much needed tools in learning and networking platforms.
