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Riyadh becomes top 5 Start up Hubs in the region

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Riyadh has climbed the ranks to become a top 5 startup hub in the Middle East and North Africa (MENA) according to the latest Global Startup Ecosystem Report. This positions Riyadh as a leading player not just regionally, but also globally as a top emerging ecosystem!

 

 

The MENA region is experiencing a startup boom, with Dubai and Abu Dhabi also making strong showings. Saudi Arabia, in particular, is a frontrunner in this growth, with a thriving ecosystem exceeding $11 billion and a focus on attracting startups through AI development and enticing incentives.

 

 

Investors are taking notice too, with MENA startups securing over $429 million in funding this quarter, with Riyadh leading the way!

 

This is an exciting time for the MENA startup scene, and Riyadh is at the heart of it. Stay tuned for more updates on this thriving region!

 

Source: https://economysaudiarabia.com/news/riyadh-among-top-5-startup-ecosystems-in-mena-region-report/

 

The information contained in this blog post regarding business environment in Saudi Arabia is curated from reputable news sources and linked for your reference. While this blog is intended to be informative, it is not a substitute for professional advice.

International Corporate Business Services (ICBS) is a consultancy firm specializing in the Kingdom of Saudi Arabia and the GCC market. Reach out to us for assistance with business advisory services, government services navigation, or business set up in Saudi Arabia. Our team of experts can provide a customized suite of services to meet your specific business needs. Don’t hesitate to reach out to us for a consultation.