LinkedIn Announces 2024’s Top Startups in Saudi Arabia and the UAE: Innovation Driving Economic Growth

Pioneer Investors – LinkedIn has revealed its annual list of the top startups for 2024 in both Saudi Arabia and the United Arab Emirates (UAE). This announcement comes at a time when the region is witnessing unprecedented growth in venture capital investment, with Saudi Arabia alone attracting 1.5 billion SAR ($400 million) in the first half of 2024. This solidifies the kingdom’s leadership position in the Middle East and North Africa (MENA) region.

Saudi Startups: Innovation Fueling Economic Diversification

The LinkedIn 2024 Top Startups list for Saudi Arabia highlights the transformative economic shifts happening in the country. According to Nabila Rahal, Middle East and North Africa (MENA) News Editor at LinkedIn, “Saudi startups continue to bolster their presence by entering new industries and contributing to the diversification of the economy. There’s a clear focus on innovative tech solutions, which strengthens these companies’ abilities to attract both local and international talent.”

The leading Saudi startups in 2024 are:

1. Cipher: A cybersecurity company providing advanced solutions for digital protection.
2. Tamara: A fintech platform offering “buy now, pay later” services.
3. Mawidy: A platform that streamlines appointments and bookings in the healthcare sector.
4. MR MANDOOB: A logistics service provider facilitating deliveries and errands.
5. SHIFT inc: A tech company focused on transportation and logistics solutions.
6. Rewaa: A platform that manages inventory for small and medium-sized enterprises (SMEs).
7. Soum: An innovative e-commerce platform.
8. LAWAZEM: A provider of essential business supplies and services.
9. Mozn: Specializing in artificial intelligence and data analytics.
10. Squadio: A talent and HR solution provider, focusing on innovation and human resources.

UAE Startups: Economic Momentum and Accelerated Growth

In the UAE, startups have also made significant strides in 2024, leveraging the country’s economic momentum driven by population growth and a booming real estate sector. Nabila Rahal stated, “UAE-based startups are emerging as key players by delivering services and platforms that cater to both local and international markets, capitalizing on the steady economic growth and rising population.”

The leading UAE startups in 2024 are:

1. Astra Tech: Offering integrated tech solutions for businesses.
2. Qashio: A fintech platform specializing in expense management.
3. GrubTech: Tech solutions for the food delivery and restaurant industries.
4. PRYPCO: A startup focused on artificial intelligence applications.
5. The Giving Movement: A sustainable fashion company promoting ethical production.
6. GluCare.Health: An advanced digital health platform.
7. Huspy: Innovating in real estate and financing solutions.
8. CAFU: Providing on-demand fuel delivery services.
9. Stake: A platform for real estate investment.
10. Qlub: Offering innovative payment solutions for restaurants and cafés.

A Deeper Dive into the Report

The LinkedIn report provides more than just a snapshot of the leading startups; it offers a glimpse into the broader economic trends shaping the MENA region. Technology and innovation are at the core of these companies’ growth strategies, as they tackle market challenges and deliver new services tailored to evolving consumer needs. The surge in venture capital investment in both Saudi Arabia and the UAE is fueling these startups’ ability to scale their operations and attract top-tier talent.

Key Trends Observed:

1. Focus on Tech-Driven Solutions: From cybersecurity with Cipher to health tech with Mawidy and GluCare.Health and technology are the common denominator driving many of these startups.
2. E-commerce Boom: Startups like Tamara, Soum, and Rewaa reflect the rapid growth of e-commerce in the region, capitalizing on shifts in consumer behavior, especially following the COVID-19 pandemic.
3. Sustainability and Talent Attraction: Companies like The Giving Movement underscore the rising importance of sustainability in growth strategies that are in line with global trends. Additionally, these startups are excelling at attracting top talent, both locally and internationally, contributing to their overall growth and success.

In summary, the LinkedIn report highlights that Saudi Arabia and the UAE have positioned themselves as major hubs for startups leveraging technology. These companies are pushing the boundaries of innovation and fueling economic growth in the region.