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21 Nov 2020

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Top Startups in Dubai To Watch In 2020

Dubai is a land of immense opportunities and it’s no different for the startup ecosystem. With no shortage of venture capital and technology at fingertips, Dubai is growing as the major place to breed top tech startups. The nation is taking huge steps to become the next silicon valley in east with several grants, technology conferences and pitching competitions. From the plethora of innovation, we have curated for you 30+ top startups in Dubai to watch out for.

Here’s a list of 30+ Top startups in Dubai.

1. Avidbeam

Having Intel and Microsoft as partners, Avidbeam is a video intelligence and analytics platform that is deriving value from big video data. They have been serving various industries like automotive, smart cities, and retail, to name a few. The fact that they were the most promising Big Data startups (2017) and won the grand prize at CES Exhibition 2018 held in Las Vegas makes them one of the top startups in Dubai!

Founder: Dr. Hani El Gebaly

Total Funding: NA

Founding Year: 2014

Category: Big Data, Information Technology, Software, Video

Address: NA

2. Meddy

Meddy has made finding the best doctor in Qatar easy. From pediatricians, skin, dentists to general doctors, you can get all the information about them without going to the clinic. You can even know about various home remedies and doctors’ opinions via their blog!

Founder: Abdulla Alkhenji, Haris Aghadi

Total Funding: $ 2.5M

Founding Year: 2014

Category: Health care, IT

Address: NA

3. Repeat

Visit a place frequently? Get the best prices at the sites you frequent the most. Repeat is into growing local businesses and providing personalized pricing for brands you love repeating!

Founders: Omer Aslan Gurel

Total Funding: NA

Founding Year: 2017

Category: Apps, Computer, Computer Vision, Hospitality, Mobile, Retail, Software

Address: NA

4. Ziwo

Whether its customer support, development work or marketing/sales – Ziwo provides API based Customer relationship management (CRM) system for making communication all simple. They boast clients like Cleartrip, UAEXchange, and deliver, to name a few, making them one of the top startups in Dubai 2019!

Founders: Eric Ouisse, Renaud de Gonfreville

Total Funding: NA

Founding Year: 2010

Category: Computer Software

Address: Google Map

5. Almentor

Almentor is one of the top startups in Dubai and the world’s largest Arabic content for video based continuous learning. It’s an e-learning and professional people development platform serving the Middle East, specifically with 412,512 learning experiences and counting!

Founders: Abdelrahman Fahmy, Hesham Heikal, Husni Khuffash, Ibrahim Kamel, Ihab Fikry

Total Funding: $ 4.5M

Founding Year: 2016

Category: Broadcasting, E-Learning, Education, Marketplace, Online Portals, Video

Address: Google Map

6. The List

The list offers personalized designer fashion and luxury products from the world’s best boutiques – all in just one swipe. Making an impression with luxury fashion has become lighter in pockets now!

Founders: Andreas Skorski

Total Funding: $ 2.5M

Founding Year: 2016

Category: Artificial Intelligence, E-Commerce, Fashion, Machine Learning, Marketplace, Mobile, Mobile Apps, Personalization

Address: NA

7. Unifonic

Unifonic is one of the top startups in Dubai that makes cloud communications more accessible, cost-efficient, and simpler to implement. 5000+ happy clients have been building powerful communication capabilities like SMS, voice, verification, etc. into their systems using secure & well defined APIs.

Founders: Hassan Hamdan, Ahmed Hamdan

Total Funding: $ 21M

Founding Year: 2006

Category: Information Technology, Messaging, SaaS, SMS

Address: NA

8. Instabug

Instabug empowers mobile teams to release their products with confidence through the comprehensive bug and crash reports, in-app surveys, and real-time user feedback. Currently being one of the startups in Dubai, they have more than 25,000 Mobile Teams Rely on Instabug for their bug fixes!

Founders: Omar gabr

Total Funding: $ 2.1M

Founding Year: 2012

Category: Application Developers

Address: NA

9. Jamalon

Jamalon is the largest online bookstore in the Middle East, offering more than 9.5 million titles of Arabic and English books with home delivery. Their membership is completely free, and they also feature weekly deals that you wouldn’t want to miss!

Founders: Ala Alsallal

Total Funding: $ 14M

Founding Year: 2010

Category: Books, E-comm Retail

Address: Google Map

10. Amal Glass

Smartphones are a thing of the past as we have a new technological revolution with smart glasses! Amal Glass is a smart glass with around 28 features like weather, recorder, maps, etc. that is changing the lives of virtually blind in the UAE. Being winners of the Arab Innovation Network, Supernova challenge, and having won awards from World Economic Forum makes them one of the startups in Dubai to look forward to!

Founders: Mohammed Islam

Total Funding: NA

Founding Year: 2010

Category: Electrical & Electronic Manufacturing

Address: NA

11. Aumet

Aumet allows you to access to 50,000+ medical manufacturers that you don’t usually meet at trade shows and exhibitions. They have covered all major continents and regions intending to be a partner and not a broker! Currently signed agreements range from $5.5 million, making it one of the startups in Dubai!

Founders: Ashraf Samhouri, Jamal Abu Samra, Mohammad Issa, Tariq Khader, Yahya Aqel

Total Funding: $ 75K

Founding Year: 2016

Category: Health Care, Hospital, Manufacturing, Medical

Address: NA

12. Arabia Startzplay

You can call it the Netflix for Arabs! They are one of the startups in Dubai that offer subscription video on demand (SVOD) as a service. They stream thousands of blockbuster Hollywood movies, TV shows, documentaries, kid’s entertainment, and dedicated Arabic and Bollywood content – to 19 countries across the Middle East and North Africa!

Founders: Maaz Sheikh

Total Funding: $ 125M

Founding Year: 2015

Category: Digital Entertainment, Media and Entertainment

Address: NA

13. Clearly

Clearly aims to change the world of banking altogether – from investing, saving to spending. Clearly, you can have your bank in your pocket with no branches. With invite-only access, they are clearly one of the most promising top startups in Dubai 2019!

Founders: Fara Remtulla

Total Funding: $ 4.7M

Founding Year: 2016

Category: Banking, Financial Services, FinTech, Retail

Address: NA

14. The Luxury Closet

It’s all great when you buy luxury, but what if you want to sell it back? The Luxury Closet is a global online boutique for buying and selling new and pre-loved luxury items like handbags, clothes, watches, and jewelry. They are one of the top startups in Dubai in the luxury segment that boast more than 16,000 treasures from top luxury brands such as Louis Vuitton, Chanel, Van Cleef, and Arpels, Cartier, Rolex etc.!

Founders: Kunal Kapoor

Total Funding: $ 11.6M

Founding Year: 2012

Category: luxury goods & jewelry

Address: Google Map

15. Holidayme

Planning a holiday can be cumbersome. Still, we have Holidayme to provide customized travel packages to customers across the Middle East. You can design holiday packages, hotels, sightseeing activities, and transfers for destinations all over the world!

Founders: Geet Bhalla and Digvijay Pratap

Total Funding: $ 11M

Founding Year: 2012

Category: Leisure, Tourism, Travel

Address: Google Map

16. Bekia

Did you know you can save money from waste – literally monetize thrash? Bikya is one of the top startups in Dubai with being the first platform in Egypt and the Arab world to exchange inorganic waste for things you want! They have special offers for companies and shops as well.

Founders: Alaa Kamal, Mohamed Zohdy

Total Funding: NA

Founding Year: 2017

Category: Agriculture, Energy, Food and Beverage, Renewable Energy

Address: NA

17. Souqalmal

An awarded startup by Forbes, Souqalmal is one of the top startups in Dubai for financial services. They are the go-toto comparison site for Credit Cards, Mortgages, Personal Loans, Car Loans, Car Insurance, Health, and Travel Insurance.

Founders: Ambareen Musa

Total Funding: $ 14.5M

Founding Year: 2012

Category: finance company

Address: Google Map

18. InvoiceBazaar

InvoiceBazaar is one of the top startups in Dubai that aims to bridge the supplier-buyer relationship by digitizing their manual transactions. This digitization helps in providing working capital finance to an SME.

Founders: Anand Nagaraj

Total Funding: $ 6.1M

Founding Year: 2015

Category: Financial Services, Software, Supply Chain Management

Address: Google Map

19. Altibbi

Altibbi is a medical community housing more than 85,364 trusted doctors making it one of the top startups in Dubai for healthcare. They provide immediate medical consultations via high-definition phone calls or personal conversations at any time. In addition, they give the most significant comprehensive Arab medical content for all topics specialized in medicine and health!

Founders: Ayman Sharaiha & Hussein Abdelkarim

Total Funding: $ 8.5M

Founding Year: 2008

Category: Health, Wellness & Fitness

Address: Google Map

20. Beehive

Beehive is one of the top startups in Dubai, which is also MENA’s first regulated peer to peer lending platform.It provides short-term finance for SMEs with Invoice Finance. They directly connect businesses with investors willing to lend against their invoices. They also have an eligibility test to check if the SME is fundable!

Founders: Craig Moore

Total Funding: $ 5M

Founding Year: 2017

Category: finance company

Address: Google Map

21. Health at Hand

Health at hand provides an affordable, accessible, and confidential platform to connect with doctors instantly. They offer video consultation as a subscription service for citizens as well as B2B packages for businesses.

Founders: Charlie Barlow

Total Funding: $ 4.1m

Founding Year: 2015

Category: Healthcare

Address: Google Map

22. Seez

Seez is a used car platform for the UAE, Kuwait, and KSA market providing fair market price and depreciation of any car. You can search for new and used cars as well as cars for lease and benefit from price negotiation. They also provide daily, updated hot deals!

Founders: Andrew Kabrit

Total Funding: $ 1.8M

Founding Year: 2015

Category: New & Old Car Dealer

Address: Google Map

23. Derq

Derq is one of the top startups in Dubai that aims to provide a safer and smarter road powered by patented AI and predictive analytics. Having graduated from techstars and featured in the World Economic Forum as startups in Dubai, they have been successfully making travel safe!

Founders: Amer Abufadel, Georges Aoude & Karl Jeanbart

Total Funding: $ 1.5M

Founding Year: 2016

Category: Automotive

Address: NA

24. ServiceMarket

Getting home services is a real task – but Service Market is one of the top startups in Dubai that is helping us find the right helper! With 25+ home services listed, they have been featured in Entrepreneur, Forbes, and leading Arab publishing!

Founders: Bana Shomali & Wim Torfs

Total Funding: $ 4.25M

Founding Year: 2013

Category: Internet Software E-commerce

Address: Google Map

25. Bulk Whiz

Bulk Whiz gets your groceries sorted at bulk prices instead of the full price! Just order from 20+ categories available instantly with delivery. They also share deals as high as 80% off!

Founders: Amira Rashad

Total Funding: NA

Founding Year: 2016

Category: Artificial Intelligence, E-Commerce, Grocery, Retail

Address: Google Map

26. Sprii

Sprii is a global ecommerce platform for mothers with amazing deals! They have a range of products like toys, cradles, utensils, etc. that an aspiring or present mum would want to have. You can even request a product, and they will get it delivered for you.

Founders: Sarah jones

Total Funding: $ 4.1M

Founding Year: 2014

Category: E-Commerce, Marketplace, Retail

27. Ajeer

Your search of home technicians ends with one of the startups in Dubai – ajeer. They provide access to best home maintenance services at low rates making your home life more comfortable.

Founders: Faisal Alzahrani, Turki Alarjani, Abdulaziz Al-Taleb

Total Funding: $ 533K

Founding Year: 2013

Category: Information Technology, Internet, iOS, Software

Address: NA

28. 360 VUZ

Get exclusive access in the immersive 360 degree experience of major events happening around! 360 VUZ wants you to be anywhere you want to be from anywhere in the world from your phone. They are one of the startups in Dubai with Samsung, L’oreal etc as partners and featured in Forbes, CNN, Reuters etc.! They have also been invested by the Government of Dubai, Plug and play, vision 2030 Dubai and Dtech!

Founders: Khaled Zaatarah

Total Funding: $ 1.4M

Founding Year: 2017

Category: 3D Technology

Address: Google Map

29. Abjjad

A readers delight – Abjjad is an Arabic ebook platform having 1,000,000 Arab readers. They are one of the top startups in Dubai having won ‘Business Women category’ at Union Bank award in 2015, Golden award for best online community, and earned $ 160,000 from 45 investors around the world!

Founders: Eman Hylooz

Total Funding: $ 31K

Founding Year: 2012

Category: Social Network

Address: NA

30. Bloovo

We all want jobs we love – and Bloovo aims to match you with jobs you will enjoy passionately in Dubai, UAE, and gulf region! They are one of the top startups in Dubai in HR tech space, having featured with Forbes, Entrepreneur, CNBC, etc.

Founders: Ahmad Khamis

Total Funding: $ 3M

Founding Year: 2015

Category: Career Planning, Human Resources, Internet, Recruiting

Address: Google Map

31. Matic Services

State of the art cleaning services is just a click away with MATIC. It’s the largest SaaS based marketplace to connect you with highly qualified cleaners across the Middle East. They raised $3 million in Series A from MEVP and have completed more than 1,50,000 bookings!

Founders: Mohamed Samad

Total Funding: $ 3M

Founding Year: 2015

Category: Home Services, Information Technology, SaaS, Service Industry

Address: Google Map

32. Noon

Noon is a leading ecommerce platform for the Middle East region. From home, beauty, kitchen, or groceries – they have covered it all to be your go-to site for shopping. They feature exclusive tempting deals that are huge money savers!

Founders: Mohamed Alabbar

Total Funding: NA

Founding Year: 2016

Category: E-Commerce, Fashion, Internet

Address: Google Map

From healthcare to automobile or hard tech like Augmented reality or virtual reality – Dubai is working very hard to bring it’s ecosystem as one of the best startup breeding grounds in the world. There is no best time, but right now, to start a business and become one of the top startups in Dubai!

09 Nov 2020

News admin 0 comment

UAE investors rush to snap up real estate in ‘safe haven’ London

British capital is attracting Dubai buyers who are looking for a second home to diversify their investments

UAE buyers are flocking to the London property market as the UK records its highest ever sales.

The British capital is attracting Dubai buyers who are looking for a second home to diversify their investments, according to experts.

UK property site Rightmove recorded more than £37 billion ($49 billion) of property sales between July 12 and August 8 – the highest ever agreed in a month since it began tracking the housing market more than a decade ago.

“The London market has seen increased interest from UAE buyers,” Mayson, head of international residential sales at property firm Prinn Middle East told Arabian Business.

“Given the huge effect of coronavirus on the UAE’s tourism industry and the weak oil price, locals are diversifying their investments into safe places around the world – and London is top of that list,” he said.

Prinn said London is the beneficiary of “years” of pent-up demand being released into the market following the political uncertainty of Brexit and the country’s three-month coronavirus lockdown.

“Initially during lockdown we saw the brakes put on UAE sales but since Ramadan, we have seen record interest – mainly from owner-occupiers.”

Ashu Director at Brisk Avenue said ” He predicts a slew of deals once flights between the UK and the UAE are fully opened up and quarantine rules are relaxed.”

“Owner occupiers want to physically see and touch the properties but unfortunately they haven’t been able to do that right now,” he said. “I expect there will be a lot of transactions once flights have opened up.”

In an additional boon for global buyers, the UK government has lifted the threshold at which people start paying stamp duty for residential property from £125,000 to £500,000.

The change, effective immediately, is a temporary measure designed to boost the housing market and the measure will remain in place until March 31 2021 next year.

Properties over £500,000 will pay stamp duty, however the rising of the nil rate band means they will pay £15,000 less than before.

“The removal of stamp duty has given a shot-in-the-arm to the market,” said Ashu,“It has galvanised UK buyers and there is a follow-on international galvanising effect. London is still a very safe market.”

According to data, UAE nationals are drawn to higher end properties valued at £1.5 to £2 million plus. However, non-native UAE expats are purchasing less costly stock from £700,000 upwards as buy-to-let investments.

Prinn said UAE buyers are showing interest in the Kings Road and Battersea areas, as well as White City – which is home to one of London’s biggest shopping malls.

“UAE buyers tend to look for larger properties for their families,” he said. “They are also seeking luxury touches, such as concierges, swimming pools and underground parking.”

Ashu said he has noted increased UAE, Saudi Arabian and Kuwaiti buyer interest in the firm’s St John’s Wood and Kensington developments.

“There is a lot of interest from owner occupiers,” he said. “Registrations and transactions are up on this time last year. It’s been a welcome surprise.”

According to Brisk, the COVID-19 pandemic has caused buyers to think about their lives in a “more long-term” manner. This trend is driving owner occupation interest, whether it’s full-time homes or pied-a-terres, he said.

Andrew Hawkins, director at Rocket Properties – the developer behind The Atlas Building in London’s Shoreditch – said the area is attracting significant Arab interest.

“Dubai dwellers are used to high-rise developments like ours,” he said. “ Culturally they are comfortable with high-rise living.”

Hawkins added that Shoreditch – close to the City of London and Old Street – has particular appeal for UAE buyers looking at lower price points with the opportunity for higher yields and capital appreciation.

Prinn said he remains bullish on the London property market going into 2021.

“London is the number one choice for Middle East investors because it outperforms every other market,” he said. “I predict that Gulf interest will remain high, particularly if sterling remains good value for international buyers.”

31 Oct 2020

Dirham, Dubai, dubai real estate, India, investments, Location admin 0 comment

Sheikh Mohammed announces new Dubai projects worth Dh6.6 billion

A total of 29 development projects worth Dh2 billion have been approved in Dubai to add 8 million square meters of green spaces and parks to the Emirate’s residential and commercial areas.

“We are pressing ahead with developing our city, improving the quality of our lives and making the future of the UAE,” said His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, while announcing the new projects.

In a series of tweets, Sheikh Mohammed also announced Dh4 billion project to produce energy by processing waste in Dubai. The project can accommodate 1,000 garbage trucks per day and generates enough energy for 135,000 homes. “Dubai is a clean city, its energy is clean, its neighborhoods are clean, and its energy resources must be kept clean,” Sheikh Mohammed said.

“We have also approved a project to develop 12 kilometers of Dubai’s beaches over an area of one million square meters from Al Mamzar Beach to Umm Suqeim II at a cost of Dh500 million. We will develop more swimming areas, better running paths and longer bicycle streets. The quality of life in Dubai is the secret of loving life in the Emirate,” Sheikh Mohammed added.

The Vice-President said the UAE is committed to implementing innovative projects that optimise use of resources and solve critical challenges as part of the country’s strategy to ensure environmental sustainability.

A key element in the UAE’s development model, environmental sustainability is reflected in all initiatives and projects launched by government entities, independently or in partnership with the private sector, Sheikh Mohammed said. Sustainability is key to the UAE’s future readiness, he added. “Providing a clean environment is at the heart of our efforts to advance development and provide a high quality of life both now and in the future. We have adopted global best practices and implemented innovative projects to preserve our environment and protect the health and safety of people in the UAE,” Sheikh Mohammed noted.

Sheikh Mohammed’s comments came during a review of Dubai Municipality’s environmental and sustainability projects being developed at a cost Dh6.6 billion. Sheikh Ahmed bin Saeed Al Maktoum, President of the Dubai Civil Aviation, Chairman of Dubai Airports and Chairman and Chief Executive of Emirates airline and Group attended the review.

Ready when you are

Sheikh Mohammed reviewed a project to build the Dubai Centre for Waste Processing in the Warsan area of Dubai. The Dh4 billion plant, one of the largest in the world in terms of waste processing capacity, will operate without any negative impact on the environment. Capable of processing 5,666 tonnes of municipal solid waste per day and 1.9 million tonnes of municipal solid waste per year, it also has the capacity to generate 200 megawatts of energy annually, which can serve the requirements of 135,000 residential units. The first phase of the project will be completed in 2023 and the entire project will be completed in 2024.

Director General of Dubai Municipality Eng. Dawood Al Hajri briefed Sheikh Mohammed on the new plant that is one of Dubai’s largest infrastructure projects. Created to serve the emirate’s current and future waste management and green energy requirements, the project consists of a waste weighing unit, 15 reception points, five furnaces, a steam and power generation zone, 10,000 gas processing units, 27 gates and a zone for extracting metal from incinerated waste.

Sheikh Mohammed was also briefed on a Dh500 million project to develop public beaches in Dubai. The project aims to develop one million square metres of beachfront area from Al Mamzar beach to Umm Suqeim 2. The project will be implemented in three phases — the first covers 4,250 metres of beachline extending from Al Mamzar Creek beach to Al Mamzar Corniche, the second covers 2,150 metres of beachline extending from Jumeirah Beach to Al Shorouq, and the third phase covers 6,015 metres of beachline in Umm Suqeim 1 and 2.

The project aims to revitalise the beachfront and increase swimming areas. Dedicated areas for water activities and jogging and cycling tracks will be provided as part of the overall plan to promote a fitness culture and healthy lifestyle among the city’s residents.

Ras Al Khor Wildlife Sanctuary development project

Sheikh Mohammed was also briefed on the Dh100 million Ras Al Khor Wildlife Sanctuary development project, which seeks to enhance the sanctuary’s ecosystem and biodiversity. The project will increase wetlands in the sanctuary by 20 hectares and expand green cover by planting mangrove trees in a 100-hectare area. Service facilities and entertainment amenities will also be built as part of the project.

Green Dubai Project

Sheikh Mohammed also reviewed a project to develop the first open garden on Al Mamzar Creek that forms part of the Dh2 billion Green Dubai Project. To be implemented over a four-year period extending from 2021 to 2024, the project is set to add 8 million square metres of green spaces. The project forms part of a broader plan to expand the city’s green spaces, increase the percentage of green areas in development projects and raise Dubai’s global ranking in this area.

09 Jun 2020

startup's admin 0 comment

70% of Indian startups will run out of money in less than 3 months

70% of Indian new businesses will run out of cash in under 3 months An overabundance to tie down extra capital in the coming a long time to guide through the Covid pandemic, as per an industry report. 70% of new businesses in India, home to one of the world’s biggest startup biological systems, have under a quarter of a year of money runway in the bank, and another 22% have enough to scarcely make it to the furthest limit of the year, as indicated by a review directed by industry body Nasscom. Just 8% of new businesses that took an interest in Nasscom’s review said they had enough cash to make due for over nine months. 90% of new companies said they were confronting a decrease in incomes, while 30 to 40% said they were incidentally stopping their tasks or were currently shutting down. As new businesses stand up to exceptional occasions, many are considering finding a way to remain above water. About 54% of somewhere in the range of 250 respondents said they were hoping to rotate to new business openings, and 40% said they needed to broaden into development verticals, for example, medical care. The money crunch comes as financial specialists on the planet’s second biggest web market become mindful about composing new checks to youthful firms. In an open letter a month ago, a few unmistakable VC reserves cautioned new businesses that they may discover it particularly testing to bring new capital up in the following not many months. For certain new businesses, there are different variables at play, as well. Over 69% of business-to-business new companies, particularly those working in retail and fintech classes, state in the report that they are confronting delays in installments from their customers. This has left the greater part of such new businesses to implement pay cuts, decrease their advertising spends, and a fourth of them to change to a cheaper seller to set aside cash. New companies working in vehicle and travel areas are additionally seriously affected, with 78% of respondents saying they were reevaluating their plans of action and tweaking their items as per the current situation. In a call with correspondents on Tuesday, heads at Oyo disclosed new advances the spending dwelling startup had taken at its inns to guarantee security for administrators and clients. They additionally said they were trusting that New Delhi and state governments would permit more individuals to travel and remain at lodgings once more. More than 66% of new companies additionally said they were searching for arrangements that facilitated guidelines and spike government buys. Numerous likewise mentioned help in assessments for a couple of years. More than 66% of Indian new companies accept the effect of Covid will wait for as long as a year. (Nasscom) Recently, India declared a $266 billion improvement bundle to help resuscitate the slowed down economy. On Saturday, Indian Finance Minister Nirmala Sitharaman said that new businesses excessively will have the option to get to a portion of this help — however subtleties stay meager on how they should go about it. Since 2017, India’s startup environment has developed reliably. A year ago, new companies in the nation raised a record $14.5 billion. “Out of nowhere, this prospering development adventure has abruptly been hit by a barricade… the COVID detour. There is no nation, business or living being that has not been influenced by the COVID pandemic. While governments have been working industriously to secure and spare living souls, organizations have been hit and independent ventures and new companies have been the most influenced,” said Debjani Ghosh, President of Nasscom, in the report.

10 Jan 2020

Business, established business, India, News, startup's admin 0 comment

State of the Global Startup Economy

The global startup economy remains large, creating nearly $3 trillion in value, a figure on par with the GDP of a G7 economy.1 Seven out of the top 10 largest com- panies in the world are in technology — the highest concentration of any industry sector among the top global companies — and 2019 saw close to $300 billion in venture capital investments around the world.2

Nonetheless, even at the end of 2019, not all was well. Inclusion remained a fundamental challenge for tech ecosystems, with only 14.1% of founders globally being female, as our Startup Genome research shows.3 Value creation by ecosystems remains concentrated, with about 74% of all value produced being concentrated in the top 10 performing cities globally. Tech giants like WeWork and the stable of unicorns funded by Softbank began to falter — ranging from major crises, as in the case of WeWork; to a capital crunch for others.4

But despite these challenges, we did not expect the major threat of the COVID-19 crisis to global ecosys- tems. Since the crisis hit:

Layoffs among startups are rampant, with just over a third of startups globally not laying off staff nor cutting hours, and with the typical startup with full- time layoffs letting go an average 33% of the staff; and
- Startups are facing a double whammy with a drop in consumer demand at the same time VC investments are dropping, leading to a crunch for capital. In fact, four out of every 10 startups have 3 months or fewer of capital runway, meaning they will die if they do not raise additional money and their revenue and expenses remain the same.

While we see early signs of a rebound in Asian ecosys- tems — nothing like a return to normal, but a slowdown of the drop — the startup economy is going through a major transition.

In 2020, the State of the Global Startup Economy can be seen through two main angles: the calm before the storm, up to Dec. 2019, and the consequences of the COVID-19-triggered crisis.

Most successful startups of 2020

The Calm Before the Storm

In the lead up to the crisis, the dominating trend for ecosystems globally has been the growing democrati- zation of tech across geographies.

Democratizing the Tech Economy

Despite the concentration of value in tech ecosystems, access to the tech economy is increasingly democra- tized.

In 2013, tech unicorns became a phenomenon, with the term popularized by Aileen Lee from CowboyVC.5 6 The name alludes to the rare and nearly mythical quality

of these companies. But

while still powerful they are not so rare anymore.

When we analyzed com- panies in the billion-dol- lar club — exits or private companies in technology with over $1 billion in val- uation — in 2013-2019 we see that in 2013 only four ecosystems produced unicorns or billion-dollar exits. Today, a cumula- tive 80+ ecosystems have done so, astoundingly.

18 Sep 2019

Business, Dubai, dubai real estate, established business, startup's admin 3 Comments

India start-up scenario.

Why there is no better time than now to invest in startups

Investments in the Indian start-up ecosystem surged 322 per cent in July year-on-year. They rose to $5.61 billion last month, against $1.33 billion in July 2019, according to data from Tracxn, a firm that tracks investments and financials of private companies and start-ups. The funding that went into Jio Platforms’ alone accounted for nearly 87 per cent of the total amount

The number of companies that garnered the investment, though, fell to 82 last month, against 120 in the same period in 2019.

Top-funded sectors

The top-funded sectors include telecom ($4,854 million), enterprise infrastructure ($236.2 million), ed-tech ($164.95 million), real estate- and construction-tech ($78.1 million), retail ($57.42 million) and media and entertainment ($53.90 million). The consumer sector, which encompasses online and technology-enabled consumer-facing companies in the business-to-consumer (B2C) space, raised $183.47 million.

While Jio Platforms, Nxtra Data, Vedantu, Zolo and Toppr were the top five funded companies in July 2020, the most active investors – based on the number of deals in July – included Mumbai Angels, Matrix Partners India, Accel, LetsVenture and Unicorn India Ventures.

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