FinTech companies and those investing in hiring "top talent" are dominating the list of the best start-ups in the UAE and Saudi Arabia this year, as revealed by professional network LinkedIn.
Strong government support and a push towards innovation has further boosted start-ups in the Arab world's two largest economies, the company said in its annual Top Startups list.
UAE car-sharing platform ekar has been ranked as the best start-up to work for in the Emirates for the second consecutive year, while Dubai-based on-demand fuel delivery company Cafu, sustainable activewear brand The Giving Movement, global payments platform Hubpay and Abu Dhabi agriculture technology start-up Pure Harvest Smart Farms rounded off the top five employers.
Other sought-after start-up employers in the UAE include food and beverage company Yolk Brands, financial technology start-up and digital banking app YAP, buy-now-pay-later (BNPL) company Tabby, payments processor NymCard and Grubtech, a platform that digitises the back-end operations of restaurants and cloud kitchens, LinkedIn said.
Despite a global economic slowdown and "tightening" labour markets, the UAE recorded a 49 per cent surge in hiring in August compared to the same month in 2019 before the pandemic, LinkedIn said.
Companies on the list have invested in top talent, signalling the "opportunities that still lie ahead", it added.
"This year’s list has shown us that automotive, F&B and FinTech start-ups are designing their services to appeal to the UAE’s tech-savvy residents, who are relying on their applications to get their necessities sorted, whether it’s getting food delivered, their cars serviced, or even managing their finances," said Dana Moukhallati, news editor at LinkedIn.
The global Top Start-ups List is an annual ranking of emerging start-ups to work for and is based on LinkedIn data, the company said on Wednesday.
The four criteria used were employment growth, engagement with non-employees, job interest and top talent attraction.
Eligible start-ups are fully independent, privately held, have 30 or more full-time employees, are seven years old or younger and headquartered in the Emirates.
Start-ups that laid off 10 per cent or more of their workforce within the methodology time frame were ineligible.
Developing start-ups’ contribution to the economy will help achieve the target of doubling the UAE's gross domestic product by 2031, Abdulla bin Touq, Minister of Economy, said this month.
The UAE aims to become home to 10 unicorns, or start-ups valued at more than $1 billion, by 2031.
Start-ups in Dubai raised more than $2 billion collectively last year, double the financing secured in 2021, as the emirate sets its sights on becoming the global destination of choice for digital entrepreneurs, according to a June report by Dubai Chamber of Digital Economy.
Start-ups in the wider Middle East and North Africa raised $643 million in late-stage funding during the first half of this year, outpacing the global average, start-up data platform Magnitt said in its latest industry report in September.
They recorded a 20 per cent annualised growth since 2018, compared to a 49 per cent decline globally, it said.
Meanwhile, the best start-ups to work for in Saudi Arabia are Riyadh-based social media analytics platform Lucidya, BNPL company Tamara, e-commerce platform Zid, online grocery delivery business Nana and payment app Tweeq.
Others in the top 10 are Lendo, Gathern, Salla, Soum and digital marketplace Sary.
Trends observed in the kingdom include a shift towards new areas for innovation and sustainable growth in the e-commerce space.
“This year’s list demonstrates the growing capabilities of start-ups in the kingdom as they venture into new and untapped industries," said Ms Moukhallati.
"We also see the government offering start-ups the right opportunity to experiment with financial and e-commerce solutions, paving the way for more of those companies to emerge.”
Saudi Arabia led the Mena region in attracting the highest number of venture capital investment deals for its start-ups in the first quarter of 2023, according to Magnitt.
It also led the region in terms in terms of deal value.
The kingdom was the most funded for start-ups in the three months to March, attracting $359 million out of the total $818 million capital for the Mena region, the report said.
Overall, venture capital funding for start-ups in Saudi Arabia rose by 72 per cent annually to $987 million from 144 deals in 2022, Magnitt data showed.
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AT4 Ultimate, as tested
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How being social media savvy can improve your well being
Next time when procastinating online remember that you can save thousands on paying for a personal trainer and a gym membership simply by watching YouTube videos and keeping up with the latest health tips and trends.
As social media apps are becoming more and more consumed by health experts and nutritionists who are using it to awareness and encourage patients to engage in physical activity.
Elizabeth Watson, a personal trainer from Stay Fit gym in Abu Dhabi suggests that “individuals can use social media as a means of keeping fit, there are a lot of great exercises you can do and train from experts at home just by watching videos on YouTube”.
Norlyn Torrena, a clinical nutritionist from Burjeel Hospital advises her clients to be more technologically active “most of my clients are so engaged with their phones that I advise them to download applications that offer health related services”.
Torrena said that “most people believe that dieting and keeping fit is boring”.
However, by using social media apps keeping fit means that people are “modern and are kept up to date with the latest heath tips and trends”.
“It can be a guide to a healthy lifestyle and exercise if used in the correct way, so I really encourage my clients to download health applications” said Mrs Torrena.
People can also connect with each other and exchange “tips and notes, it’s extremely healthy and fun”.
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SPECS
Specs
Engine: Duel electric motors
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The National's picks
4.35pm: Tilal Al Khalediah
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7pm: Flood Zone
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Director: Laxman Utekar
Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna
Rating: 1/5
Company profile
Name: Steppi
Founders: Joe Franklin and Milos Savic
Launched: February 2020
Size: 10,000 users by the end of July and a goal of 200,000 users by the end of the year
Employees: Five
Based: Jumeirah Lakes Towers, Dubai
Financing stage: Two seed rounds – the first sourced from angel investors and the founders' personal savings
Second round raised Dh720,000 from silent investors in June this year
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War 2
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Mina Al Oraibi: Air strike casts a long shadow over the decade ahead
Jack Moore: Why the assassination is such a monumental gamble
Matthew Levitt: Iran retains its ability to launch terror attacks
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Bio
Born in Dibba, Sharjah in 1972.
He is the eldest among 11 brothers and sisters.
He was educated in Sharjah schools and is a graduate of UAE University in Al Ain.
He has written poetry for 30 years and has had work published in local newspapers.
He likes all kinds of adventure movies that relate to his work.
His dream is a safe and preserved environment for all humankind.
His favourite book is The Quran, and 'Maze of Innovation and Creativity', written by his brother.
MATCH INFO
Liverpool 2 (Van Dijk 18', 24')
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Cracks in the Wall
Ben White, Pluto Press
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National Editorial: Suleimani has been killed, now we must de-escalate
Mina Al Oraibi: Air strike casts a long shadow over the decade ahead
Jack Moore: Why the assassination is such a monumental gamble
Matthew Levitt: Iran retains its ability to launch terror attacks
Damien McElroy: A CEO tasked with spreading Iran's influence
Hussein Ibish: Trump's order on solid constitutional ground
Simon Waldman: Cautious Israel keeping a low profile
Rashmee Roshan Lall: Sound of silence in South Asia
Richard Olson: Why Afghanistan will be very wary
Our commentary on Brexit
- Con Coughlin: Choice of the British people will be vindicated
- Sam Williams: Departure is influenced by its sense of place
Killing of Qassem Suleimani
National Editorial: Suleimani has been killed, now we must de-escalate
Mina Al Oraibi: Air strike casts a long shadow over the decade ahead
Jack Moore: Why the assassination is such a monumental gamble
Matthew Levitt: Iran retains its ability to launch terror attacks
Damien McElroy: A CEO tasked with spreading Iran's influence
Hussein Ibish: Trump's order on solid constitutional ground
Rashmee Roshan Lall: Sound of silence in South Asia
The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
Read part three: the age of the electric vehicle begins
Read part two: how climate change drove the race for an alternative
Read part one: how cars came to the UAE
Warlight,
Michael Ondaatje, Knopf
Our commentary on Brexit
- Alistair Burt: Despite Brexit, Britain can remain a world power
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National Editorial: Hezbollah's murky dealings in Iraq have been unveiled
Name: Peter Dicce
Title: Assistant dean of students and director of athletics
Favourite sport: soccer
Favourite team: Bayern Munich
Favourite player: Franz Beckenbauer
Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates
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A timeline of the Historical Dictionary of the Arabic Language
- 2018: Formal work begins
- November 2021: First 17 volumes launched
- November 2022: Additional 19 volumes released
- October 2023: Another 31 volumes released
- November 2024: All 127 volumes completed
The National photo project
Chris Whiteoak, a photographer at The National, spent months taking some of Jacqui Allan's props around the UAE, positioning them perfectly in front of some of the country's most recognisable landmarks. He placed a pirate on Kite Beach, in front of the Burj Al Arab, the Cheshire Cat from Alice in Wonderland at the Burj Khalifa, and brought one of Allan's snails (Freddie, which represents her grandfather) to the Dubai Frame. In Abu Dhabi, a dinosaur went to Al Ain's Jebel Hafeet. And a flamingo was taken all the way to the Hatta Mountains. This special project suitably brings to life the quirky nature of Allan's prop shop (and Allan herself!).
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Southampton 2
Armstrong 13', Soares 20'
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Lukaku 33', Herrera 39'
Towering concerns
Favourite book: ‘The Art of Learning’ by Josh Waitzkin
Favourite film: Marvel movies
Favourite parkour spot in Dubai: Residence towers in Jumeirah Beach Residence
In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
Company Profile:
Name: The Protein Bakeshop
Date of start: 2013
Founders: Rashi Chowdhary and Saad Umerani
Based: Dubai
Size, number of employees: 12
Funding/investors: $400,000 (2018)
