The Kingdom has been ranked among the top ten in the 2021 Global Startup Ecosystem Report (GSER) – one of the most extensive and widely read studies on startup ecosystems in the world.
Startup Genome, in collaboration with the Global Entrepreneurship Network, publishes the report once a year. With 280 entrepreneurial innovation ecosystems and 3 million businesses analyzed, the report offers an international ranking in the field of entrepreneurial innovation. The report offers a list of the world’s top 140 ecosystems.
According to the research, Bahrain is one of the top 10 ecosystems in the MENA area with skilled technical talent, and is also one of the top 15 on the Bang for Buck ecosystems, which examines the average amount of venture capital invested in tech startups. Bahrain’s ecosystem is ranked among the top 15 in the MENA region for performance, which assesses the size and performance of an ecosystem based on the total value of tech startups established from exists and funding.
In addition, the Kingdom was named one of the top 15 knowledge ecosystems in the region, based on research and patent activity.
Tamkeen Chief Executive Husain Rajab noted on this occasion: “The report reflected Bahrain’s prominent ranking as a supportive startup ecosystem. In addition to its advances positions in a number of economic aspects, an attractive business environment, a highly-skilled workforce & a low cost of living are cited as reasons a startup should move to Bahrain,” Rajab explained.
“The FinTech sector is also highlighted for its density of talent, support resources, and startup activity, promoting and facilitating a fast-growing ecosystem in line with the Kingdom’s promising vision for sustainable economic development,” he added.
“Entrepreneurs, policymakers, and community leaders are working hard all over the world to build productive and inclusive technology ecosystems that are engines of economic growth and job creation for all,” stated JF Gauthier, Founder and CEO of Startup Genome.