Sharjah leads list of high-growth ecosystems globally – report

The emirate of Sharjah has led the list of of high-growth ecosystems, underpinning its pursuits to become a global startup hub, a new report has revealed.

The Global Startup Ecosystem Report (GSER) – launched by advisory and research firm Startup Genome and Sharjah Entrepreneurship Center (Sheraa) – reveals research based on more than 1.27 million companies, over 250 ecosystems, and survey data from startup executives worldwide.

The report cites Sharjah’s commitment to research and innovation, factors such education technology and creative economy, and access to talent as its primary assets. Sharjah also ranks among the Top 20 in Africa and Middle East for “Bang for Buck” and the Top 30 Africa and Middle East Ecosystems for Affordable Talent.

Najla Al Midfa, CEO of Sheraa, said: “It is a proud moment for Sheraa, and Sharjah, to be recognised as a top high-growth ecosystem by Startup Genome. This achievement is a testament to our dedicated efforts over the past five years to cultivate a world-class entrepreneurship ecosystem. We look forward to further advancing Sharjah’s reputation as a vibrant startup hub – one that is home to high-impact ventures that contribute to our communities and the growth of our economy.”

“This is the time for policymakers, community leaders, and foundations to double down on their support of local startups — the #1 engine of job creation and economic growth,” said JF Gauthier, founder and CEO of Startup Genome.

“The GSER is the foundation of global knowledge where we, as a network, come together to identify what policies actually produce economic impact and in what context.”

The 2020 GSER provides insights to public and private stakeholders on methodologies to curate thriving startup ecosystems, and how governments can leverage tech ecosystems to restart stalled economies amid the ongoing pandemic.

In May 2020, Sheraa pledged a $1m solidarity fund to help strained startups weather the tide of the Covid-19 crisis.

Also read: How has Covid-19 impacted the startup ecosystem in the GCC?