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Riyadh, Dubai top list of ideal places for startups in MENA region
To promote innovation, develop talent, and facilitate business growth in the region, in5 will be showcasing seven Dubai-based startups at GITEX 2022
According to a recent SME research, UK-based communications platform Sortlist has named Dubai and Riyadh as the top locations for startups in the Middle East and North Africa (MENA) region. Dubai came second, with the Saudi capital taking first place among the 13 MENA cities.
The analysis has identified the top MENA cities where new businesses have the best chance of succeeding based on a number of variables, including success rates, average office leasing costs, energy pricing, qualified workforce, and broadband speed.
Riyadh’s average broadband speed is higher than other cities at 94.64 Mbps. With a literacy rate of 95%, it has one of the best happiness scores in MENA (6.49 out of 10) and an electricity price of only 4.2 pence per kilowatt hour, which is considerably less than in the UK. In Dubai, the highest internet download speed on the list stands at 189.07 Mbps, surpassing all UK and MENA cities combined.
“Dubai has established a globally competitive business environment and become a desirable location for talent, entrepreneurs, and investors from across the world. World-class infrastructure, advanced business policies, and a supportive atmosphere increase the emirate’s attractiveness to founders, creatives, and independent thinkers around the world,” said Majed Al Suwaidi, senior vice president of Dubai Media City, Dubai Studio City, and Dubai Production City.
Featuring startups with a range of innovations, from cloud-based services to AI-driven sampling platforms and nursing pods for mothers on the go, business incubator in5 will be showcasing seven Dubai-based startups at GITEX 2022.
The homegrown startups to be featured at the event include Beezr – a cloud-based no-code SaaS application; Expin – a platform for marketing campaigns, bartering, and gifting; HUMD – a printing marketplace in the UAE; LivLyt – a consumer electronics and technology subscription business; PeriCare – a pop-up pod to support nursing women; VeeHive – a media streaming and commerce network; and ViewIT – an all-inclusive real estate solution.
Set to be held from October 10 to 14 at Dubai World Trade Centre, GITEX Global 2022 aims to promote innovation, develop talent, and facilitate business growth in the region.