Global Startup Ecosystem 2024 Ranks Sharjah 4th in GCC, 7th in MENA

Sharjah has been ranked 4th in the Gulf Cooperation Council (GCC) and 7th in the Middle East and North Africa (MENA) region, as per the Global Startup Ecosystem 2024 report.

This ranking, announced during the London Tech Week by Startup Genome and Global Entrepreneurship Network, makes the emirate climb two spots higher compared to last year.

Sheikha Bodour Bint Sultan Al Qasimi, Chairperson of Sheraa - Sharjah's flagship start-up incubator - said this improvement in the rankings shows that the emirate is focused on entrepreneurialism.

"Our startup ecosystem is investor- and business-friendly, committed to nurturing innovation, and it's a dynamic global hub where forward-thinking minds converge," Al Qasimi said, according to WAM.

"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.

The report highlighted Sharjah's strengths in the startup ecosystem, especially in Cleantech, Digital & Creative Industries and Edtech. These sectors consist of a lot of talent, resources and startup activity.

Sharjah has been ranked in various categories, including rank #5 in "Bang for Buck," which shows how much funding tech startups get from investors on average, and rank #6 in Funding, which looks at early-stage funding and investor activity.

Furthermore, the emirate ranks #7 in Market Reach, which tracks the influence of local companies and their global connections.

Sharjah also ranks in the Top 15 for both Knowledge and Performance categories. The Knowledge category measures innovation through research and patents, while the Performance category looks at the success of startups based on the value generated from funding and business success.

Sheraa's Vice Chairperson Najla Al Midfa said these rankings reflect the emirate's "unwavering commitment to harnessing the transformative power of entrepreneurship."

"By nurturing homegrown talent and ventures, and partnering with stakeholders across the ecosystem, we have cultivated a founder-focused environment where innovative early-stage ventures thrive with access to essential talent, capital, and markets," he said.

Al Midfa added that Sharjah will be scaling this impact by further enhancing the startup's offerings and driving growth in key sectors such as sustainability, ed-tech, advanced manufacturing and the creative industries.