The UAE ranked first regionally in terms of the total value of start-up financing, recording $ 418 million, in a report issued by the Magnet platform specializing in startups, followed by the list in Egypt with $ 95 million, then Saudi Arabia with $ 67 million, and Jordan’s solution Fourth with 41 million dollars, then Lebanon with five million dollars and Kuwait sixth with 21 million dollars.
Bahrain ranked seventh with 6 million dollars, followed by Oman eighth with 6 million dollars, then Algeria with 4 million dollars and Tunisia with 3 million dollars.
The report emphasized that the UAE has been an important center for venture capital and financing start-up companies in the Middle East and North Africa region. Karim formed the first exodus of a billionaire company (Unicorn) in the UAE and the region, where Uber acquired it with a value of $ 3.1 billion.
The report pointed out that the UAE witnessed significant growth in the number of deals, and 2019 was a record year as the number of investors in startups increased.