Dubai accounts for 57 per cent of scale-up funding in the Middle East and North Africa (MENA) region, and is home to 39 per cent of the region’s scale-ups, according to a new report from the Dubai Chamber of Digital Economy.
The report, titled ‘UAE Venture Outlook’, revealed that 26 MENA scale-ups (4.4 per cent of total) relocated their headquarters inside the region to boost their growth, with the UAE being the preferred destination for relocation.
Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Teleworking Applications, and Chairman of Dubai Chamber of Digital Economy, said the findings of the report reflect ongoing efforts to advance Dubai’s digital economy and create a conducive environment in the emirate for scale-ups to thrive and grow.
Hamad Buamim, President & CEO of Dubai Chambers, said: “Despite its vast competitive advantages, the UAE continues to add more incentives for businesses and startups. The introduction of golden visas, green visas, freelancer and entrepreneur visas are all bold and positive steps the country has taken to boost its value proposition.”
