UAE - Mubasher: Dubai has represented 57% of scaleup funding in the Middle East and North Africa (MENA) region.
The emirate has attracted 39% of the region’s scaleups and a majority of tech giants, according to a report published by the Dubai Chamber of Digital Economy in collaboration with Mind the Bridge and Crunchbase.
In MENA, the total number of scaleups reached 587 as of December 2021, compared to 139 in 2020.
These scaleups secured $9.1 billion representing 0.12% of the region’s gross domestic product (GDP).
The UAE registered 251 scaleups that raised 59% of total funding within the region with $5.4 billion.
Saudi Arabia has occupied the second position in the region in terms of the number of scaleups with 106, followed by Egypt with 84 scaleups.
