Abu Dhabi – Mubasher: UAE-based startups have been attracting massive investments lately, which will help boost the national economy.
Most successful startups operate in the fields of e-commerce, fintech, food and beverage, logistics, and transport, according to Al Khaleej Times.
The UAE has acquired the lion’s share, around 70%, of these investments, followed by Saudi Arabia and Lebanon, which have retained 9% and 7%, respectively.
"We have identified several technology verticals that are attractive for investment in the UAE – and generally in MENA: Content and new media, fintech, e-commerce and marketplaces/on-demand, health-tech, and B2B Enterprise SaaS," Walid Hanna, Middle East Venture Partners (MEVP) founder and CEO commented.
Several logistics startups have been launched, which will also add to the Emirati economy, as the UAE and Saudi Arabia topped the GCC's logistics markets with a total size of $30 billion and $55 billion, respectively, according to a report by Frost & Sullivan.
Meanwhile, MAGNiTT founder Philip Bahoshy said: "It has been great to see the emergence of new investors both regional and international into the startup arena, providing a much-needed capital injection to the region."
