Sharjah has solidified its status as an entrepreneurial hub, ranking 4th in the GCC and 7th in the MENA region, according to the 2024 Global Startup Ecosystem Report (GSER). This highlights Sharjah’s growing influence in the global startup scene, moving up two spots from 2023.
“Our startup ecosystem is investor- and business-friendly, committed to nurturing innovation, and it’s a dynamic global hub where forward-thinking minds converge,” Sheikha Bodour Bint Sultan Al Qasimi, Chairperson of Sheraa, Sharjah’s flagship start-up incubator. “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.”
The report also highlights Sharjah’s strongperformancee in specific categories: #5 in ‘Bang for Buck’ (value for money from VC funding), #6 in Funding (early-stage funding and investor activity), and #7 in Market Reach (global connectedness and market presence). Additionally, Sharjah ranks in the Top 15 for both Knowledge (innovation through research and patents) andperformancee (success of tech startups).
Sharjah’s success is attributed to its strategic location, significant investment in education, and robust infrastructure, including six Free Zones and 33 industrial zones. The Sharjah Investors Services Centre (SAEED) also plays a key role in facilitating business setup.
Commenting on the announcement, Sheraa’s Vice Chairperson, Najla Al Midfa, said, “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.”
Sheraa has cultivated a supportive environment for early-stage ventures, helping over 500 founders and 18,000 entrepreneurial youth. Sheraa-supported startups boast a 71% survival rate, having raised over $171 million in capital and created over 1,900 jobs.
The GSER, which analyzes data from over 4.5 million companies globally, highlights Sheraa’s contributions to Sharjah’s entrepreneurial ecosystem. Sheraa’s efforts include mentoring, incubation, and facilitating market access, empowering over 180 startups. The Sharjah Entrepreneurship Festival (SEF), a major event organised by Sheraa, has attracted over 30,000 attendees since 2017.
