Bahrain ranked among top funding ecosystems in MENA

TDT | Manama

The Daily Tribune – www.newsofbahrain.com

Bahrain has been ranked among the top ten in the 2021 Global Startup Ecosystem Report (GSER) – one of the world’s most comprehensive and widely-read research on startup ecosystems.

The report is published annually by Startup Genome in cooperation with the Global Entrepreneurship Network. The report includes an international rating in the field of entrepreneurial innovation, with 280 entrepreneurial innovation ecosystems and 3 million startups analysed.

It was officially announced globally yesterday during the London Tech Week 2021. The report includes a ranking of the top 140 ecosystems around the world.

According to the report, Bahrain has emerged among the top 10 ecosystems with qualified technical talents in the MENA region and is among the top 15 on the Bang for Buck ecosystems - which measures the average amount of venture capital of startups working in the technology sector.

The report also refers to the Kingdom’s ranking among the top 15 ecosystems in the MENA region in terms of having talent and experience with the ability to generate and keep talent in the ecosystem.

The report also considers Bahrain’s ecosystem among the top 15 in Performance in the MENA region, which measures the size and performance of an ecosystem based on the accumulated tech startup value created from exits and funding.

The Kingdom has also been included in the top 15 knowledge ecosystems in the MENA region, measuring innovation through research and patent activity.

On this occasion, Tamkeen Chief Executive Husain Mohamed Rajab said, “The report reflected Bahrain’s prominent ranking as a supportive startup ecosystem.

In addition to its advanced positions in a number of economic aspects, an attractive business environment, a highly-skilled workforce & a low cost of living are cited as reasons a startup should move to Bahrain,” Rajab explained.

“The Fintech sector is, also, highlighted for its density of talent, support resources, and startup activity, promoting and facilitating a fast-growing ecosystem in line with the Kingdom’s promising vision for sustainable economic development,” he added.

“Entrepreneurs, policymakers, and community leaders are working hard all over the world to build productive and inclusive technology ecosystems that are engines of economic growth and job creation for all,” said JF Gauthier, Founder & CEO of Startup Genome.