Query:
What are the emerging startups and tech hubs in the Middle East?
The Middle East is home to an array of startups and tech hubs as the region continues to develop its digital infrastructure. In recent years, the Middle East has become an epicenter for tech innovation, with a range of well-funded startups and developing tech hubs.
One of the most successful startups in the Middle East is Careem, a ride-hailing platform that revolutionized transportation in the region. Founded in 2012, Careem is now the leading ride-hailing platform in the Middle East, serving millions of customers and creating thousands of jobs in the process. Careem has also established regional offices in Dubai, Riyadh, Cairo, and Amman.
Another successful startup in the Middle East is Souq.com, the world’s largest e-commerce platform serving the Middle East and North Africa. Founded in 2006, Souq has grown rapidly over the last decade and is now valued at over $1 billion. Souq offers a wide range of products and services to customers, and its success has helped to spur the growth of the e-commerce industry in the region.
In addition to these startups, the Middle East is also home to a number of tech hubs. The largest of these is the Dubai Internet City (DIC), which was established in 2000. DIC is home to over 1,500 tech companies and provides an array of services such as incubation and acceleration programs, events, and access to venture capital.
Another notable tech hub in the Middle East is the Abu Dhabi Global Market (ADGM), which was launched in 2015. The ADGM is home to over 500 companies and provides a range of services, including tax incentives, regulation, and legal services.
The Middle East is also home to a number of smaller tech hubs such as Wamda in Dubai, RiseUp in Cairo, and Astrolabs in Dubai. These tech hubs provide a range of services such as mentorship, access to capital, and networking opportunities to startups in the region.
Overall, the Middle East is home to a thriving startup and tech hub scene, with a range of well-funded startups and tech hubs such as Careem, Souq.com, Dubai Internet City, and Abu Dhabi Global Market. These startups and tech hubs are helping to drive the growth of the digital economy in the region and are creating thousands of jobs in the process.