Employment-focused social media network LinkedIn has listed 10 startups each in the UAE and Saudi Arabia as part of its annual list of top startups, highlighting companies that saw remarkable growth over the past year.
The UAE list was dominated by companies in the proptech, daily convenience and finance sectors. Meanwhile, digital security, daily convenience and e-commerce dominated the list for Saudi Arabia.
UAE startups tap nationwide trends
“With the UAE economy showing strong economic growth in Q1 and the country experiencing buoyant property prices and continued population growth, the startups on this list are all tapping into nationwide economic trends to support their growth across the emirates,” LinkedIn said.
Top UAE startups in 2024:
- Astra Tech
- Qashio
- Grubtech
- PRYPCO
- The Giving Movement
- GluCare.Health
- Huspy
- CAFU
- Stake
- Qlub
“Harnessing the UAE’s surging property market to inject more innovation into real estate, property tech companies PrypCo (#4), Stake (#9) have all joined the Top Startups list for the first time with Huspy (#7) making another debut,” the statement added.
The report pointed out that Cafu, which allows people to fill up their car anywhere, anytime, has been featured on the list for the third time, whilst Qlub (#10) joins in making paying for a meal even easier.
“Convenience apps continue to be sought after in the region,” the report said.
It’s important to note that the top two companies operate in the finance sector.
“Astra Tech (#1) and Qashio (#2) are making payments easier for consumers and businesses across the UAE in 2024, signifying the value that these companies are bringing across various segments of the economy,” the report said.
“This year’s list highlights the startups that are leveraging the UAE’s steady economic expansion and population increase to provide services and platforms that consumers and businesses appreciate,” said Nabila Rahal, MENA News Editor at LinkedIn.
“UAE’s Top Startups list 2024 offers an insight into the latest economic trends in the country while providing a snapshot of the startup landscape. The startups featured on this list have shown employment growth, high job candidate interest and are attracting the top talent in the UAE,” she added.
Startups in Saudi Arabia
As the Kingdom tops venture capital funding in the MENA region with SAR1.5 billion deployed in the first half of 2024, the startups featured in this list are keeping pace, making an impact in their respective industries and exhibiting innovation that propelled their growth trajectory.
Top Saudi Arabia startups in 2024:
- Cipher
- Tamara
- Mawidy
- MR MANDOOB
- SHIFT inc.
- Rewaa
- Soum
- LAWAZEM
- Mozn
- Squadio
The list shows the emergence of a digital security service on top. Cipher (#1), a cybersecurity startup, earned the premier spot on the list, signifying the growing importance of IT services in the Kingdom.
Meanwhile, just as in the case of UAE, convenience apps were on the rise in the Kingdom as well.
“Day-to-day service providers are on the rise as delivery app MR MANDOOB (#4), appointment-booking app Mawidy (#3) and car rental app SHIFT inc. (#5) rank amongst the top five startups in this year’s list,” the LinkedIn report said.
Meanwhile, e-commerce platforms expand their presence on the list as Rewaa (#6), a platform offering integrated solutions to retailers, entered the list for the first time, and Soum (#7), an AI-powered retail marketplace, moved up to 7th place from 9th in 2023.
The list also saw business operations platforms break new ground.
“Procurement app LAWAZEM (#8) and talent solutions platform Squadio (#10) signify the need for business solutions providers as an increasing number of international companies set up base in the Kingdom and startups fortify their presence,” the report said.
“This year’s list demonstrates that startups in the Kingdom are continuing to make their presence felt as they break into new industries and contribute to the country’s economic diversification. There is a clear focus on technological and innovative solutions within emerging companies in the country,” Rahal said.
“KSA’s Top Startups List 2024 is a snapshot of the startups and VC landscape in the Kingdom that also offers insights into the latest economic trends. The startups featured on this list have excelled in meeting their clients’ needs and are attracting the top talent in the Kingdom,” she added.
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