Bahrain ranks amongst top 10 MENA Emerging Ecosystems

TDT | Manama                                                               

The Daily Tribune – www.newsofbahrain.com

Bahrain has achieved significant recognition in the 2023 Global Startup Ecosystem Report, earning a place among the top 10 MENA (Middle East and North Africa) ecosystems and the top 10 emerging ecosystems in terms of performance.

This prestigious report, which provides extensive data-driven research on startup ecosystems worldwide, is released annually by Startup Genome, a world-leading policy advisory and research organisation, in collaboration with the Global Entrepreneurship Network (GEN).

The latest edition of the report was unveiled at the TNW Conference in Amsterdam. The report evaluates and ranks 100 emerging ecosystems worldwide, offering valuable insights and knowledge about startup trends on a global scale.

Bahrain’s ecosystem value has witnessed remarkable growth, surging to $928 million from last year’s figure of $564 million.

This represents a remarkable 54% increase in ecosystem value, which is a measurement of economic impact determined by calculating the value of exits and startup valuations. Furthermore, Bahrain has been ranked 15th among MENA ecosystems in terms of talent and experience, further highlighting the nation’s capabilities in attracting skilled professionals and fostering a thriving startup environment.

Alya Alaali, Executive Director of Strategy and Transformation at Tamkeen, emphasised that the remarkable growth in ecosystem value showcases Bahrain’s dynamism and advantage in terms of workforce. Stephan Kuester, Head of Ecosystem Strategy at Startup Genome, expressed pride in collaborating with Tamkeen to showcase Bahrain’s success stories in the startup realm.

This recognition further solidifies Bahrain’s position as an emerging powerhouse in the global startup landscape, paving the way for continued growth and innovation within the country’s entrepreneurial ecosystem.