Bahrain is celebrated in the 2024 Global Startup Ecosystem Report – with the ecosystem experiencing 40% growth in Ecosystem Value

The 2024 Global Startup Ecosystem Report (GSER) by Startup Genome and the Global Entrepreneurship Network was recently launched at London Tech Week. The GSER, powered by the world’s most quality-controlled dataset on startup ecosystems, analyzes data from over 4.5 million companies across 300+ entrepreneurial innovation ecosystems. It provides compelling new insights and deep knowledge about startup trends around the world and ranks the top 30 and 10 runner-up global ecosystems, emerging ecosystems, and an expanded regional ranking.

Tamkeen and Startup Genome have teamed up to spotlight Bahrain’s entrepreneurial ecosystem in the #GSER2024 –

• The ecosystem created $1.2 billion in Ecosystem Value from Jul 01, 2021 to Dec 31, 2023, representing 40% compound annual growth compared to Jul 01, 2019 to Dec 31, 2021 time period. Ecosystem Value is a measure of economic impact, calculated as the value of exits and startup valuations.
• Top 10 MENA Ecosystem in Performance — measures the size and performance of an ecosystem based on the accumulated tech startup value created from exits and funding
• Top 10 MENA Ecosystem in Bang for Buck — measures the amount of runway tech startups acquire, on average, from a VC round
• Top 15 MENA Ecosystem in Knowledge — measures innovation through research and patent activity
• Top 15 MENA Ecosystem in Funding — measures innovation through early-stage funding and investor’s activity
• Top 15 MENA Ecosystem in Talent & Experience — measures long-term trends over the most significant performance factors
• Top 15 MENA Ecosystem in Affordable Talent — measures the ability to hire tech talent
• The Fintech, Cybersecurity, and AI, Big Data, & Analytics sectors are highlighted for their density of talent, support resources, and startup activity

“Bahrain continues to bolster its positioning as a leading startup hub in the region. The Kingdom has taken large strides in fostering a supportive startup ecosystem, while also championing innovation by enabling skill development and providing access to funding for entrepreneurs,” shares Mrs. Alya Alaali Chief Strategy & Data Analytics Officer.

The Report is driven by a consortium of representatives from 40+ countries and looks at the current state of startup activity and related investment, providing insights and guidance to public and private leaders on how to foster thriving startup communities — the #1 engine of job creation and economic growth. Contributions from expert thought leaders and local key players further enrich the report’s extensive, evidence-based findings, which are the product of over a decade of Startup Genome’s independent research and policy work.

“As a policy advisor and research provider focused on entrepreneurial-based economic growth, we’re thrilled to spotlight Bahrain’s success stories and disseminate best practices derived from our collaboration with Tamkeen. Particularly Bahrain’s regulatory work in Fintech and Shariah compliant FS, as well as its support for the regional expansion of its startups, clearly stand out,” shares Stephan Kuester, Managing Partner at Startup Genome.