The UAE has seen significant growth in its startup ecosystem, with companies like Astra Tech, Qashio, and Grubtech leading the way. These startups have experienced strong employment growth, high applicant interest, and have been successful in attracting top talent. LinkedIn’s annual Top Startups List for 2024 also included companies like Prypco, The Giving Movement, GluCare.Health, Huspy, Cafu, Stake, and Qlub in the top 10 list. The list is compiled based on four pillars: employment growth, engagement with the company and its employees, job interest, and attraction of top talent.
Dubai, Abu Dhabi, and Sharjah have emerged as top startup ecosystems in the Middle East and North Africa region, according to the Global Startup Ecosystem Report (GSER) 2024. Astra Tech, Qashio, and Grubtech are among the top-rated startups, with each offering unique services in consumer technology, expense management, and restaurant solutions respectively. Dubai excelled in funding, scoring a perfect 10 and showcasing its innovation through early-stage funding and investor activity. The city also boasts five unicorns, making it one of the emerging ecosystems with four or more unicorns in the last decade.
Nabila Rahal, Mena News Editor at LinkedIn, emphasized the importance of startups in leveraging the UAE’s economic growth and population increase to provide valuable services to consumers and businesses. The featured startups on the list have demonstrated significant employment growth, heightened job interest, and the ability to attract top talent in the UAE. The criteria for inclusion in the list included being a fully independent, privately held company, having 30 or more full-time employees, being 7 years old or younger, and being headquartered in the UAE. Excluded entities comprised staffing firms, venture capital firms, nonprofits, and government-owned entities.
Startups that had laid off 10% or more of their workforce between July 1, 2023, and the list launch were not eligible for inclusion. Decisions were based on corporate announcements or credible news sources. In a bid to support young entrepreneurs, Abu Dhabi recently introduced an interest-free, long-term loan scheme ranging from Dh150,000 to Dh3 million for licensed Emirati startups in priority sectors. This initiative aims to provide financial support to encourage the growth and development of startups in the UAE.
In conclusion, the UAE’s startup ecosystem is thriving, with innovative companies driving growth, creating job opportunities, and attracting top talent. The recognition of startups like Astra Tech, Qashio, and Grubtech in LinkedIn’s annual Top Startups List reflects the promising future of the region’s entrepreneurial landscape. With government initiatives and favorable funding environments, the UAE continues to position itself as a hub for innovation and startup success. Stay tuned for more updates on the latest developments in the UAE’s dynamic startup scene.
