2016 was record year for digital investment in UAE

2016 was record year for digital investment in UAE
In 2016, the MENA region witnessed a record year in technology start-up funding.

More than AED 3.3 billion was invested, which is more than the total value of investments between 2013-2015 combined.

That’s according to a new report by Dubai SME, which also revealed that the UAE has led the region in attracting investments into digital entrepreneurship.

His Excellency Abdul Baset Al Janahi, CEO of Dubai SME, shares more about that key finding.

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The UAE accounted for 90 per cent of the total amount of investments in tech start-ups across the region in 2016.

Dubai SME says the record year is explained by the two mega-rounds of investment raised by Careem (AED1.2 billion) and Souq.com (AED1 billion).

His Excellency said they noticed something unique this year when it came to who was doing the investing.

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