According to reports, funding is at a nine-year low, and investment amounts as well as the number of startups getting investors are trending downwards.
But there’s one city where it’s always sunny: Dubai. Progressive policies, a growth mindset, global talent, long-term
potential, and ease of doing business have put Dubai on the global map for venture capital funding and incubators.
VC funding in Dubai has evolved significantly over the years. According to MAGNiTT, a data and analytics firm, in 2019, Dubai-based startups raised $1.3 billion in funding across 263 deals, up from $210 million in 2016.
In 2020, the total funding amount decreased to $704 million, but the number of deals increased to 338. Recently, a number of international VC firms and tech companies have set foot in Dubai, including Arbor Ventures, Sequoia Capital, Accel Partners and Lightspeed Venture Partners.
Mark Chahwan, co-founder and CEO, Sarwa, a leading investment…