Team Blitz India
SHARJAH’S status as an entrepreneurial haven has been reaffirmed after the 2024 Global Startup Ecosystem Report (GSER) revealed the emirate being 4th in the GCC, and 7th in the MENA region’s startup ecosystem rankings, reported Emirates News AgencyWAM from London.
The Startup Genome and Global Entrepreneurship Network standings, announced at London Tech Week, put Sharjah two spots higher than in 2023 due to the emirate’s growing influence and competitiveness in the international startup scene.
“Ranking 4th in the GCC region and 7th in the MENA startup ecosystem shows that Sharjah’s strategic focus on entrepreneurialism is working — and it’s getting noticed,” the report quoted Sheikha Bodour Bint Sultan Al Qasimi, Chairperson of Sheraa, Sharjah’s flagship start-up incubator.
“We’re on the right track, and this step forward strengthens our resolve to empower entrepreneurs in Sharjah and drive sustainable economic development in the region and beyond,” he added.
Sharjah’s strong performance is further evidenced by its rankings in various categories including Number 5 in ‘Bang for Buck’, indicating the amount of runway tech startups acquire, on average, from a VC round. The emirate was Number 6 in Funding, measuring innovation through early-stage funding and investor activity. While the position was Number 7 in Market Reach, tracking global leading companies, local market reach, and global connectedness.
Sharjah also featured in the Top 15 rankings for both the Knowledge and Performance categories. The Knowledge category assesses innovation through research and patent activity, while the Performance category evaluates the size and success of an ecosystem based on the tech startup value generated from exits and funding.
Sharjah’s success is attributed to factors such as the emirate’s strategic location, the incredible $1.5 billion annual investment in education, its six Free Zones and 33 industrial zones, as well as the Sharjah Investors Services Centre (SAEED), which helps investors and entrepreneurs set up their business in the emirate, added the WAM report.
