ABU DHABI: The United Arab Emirates has affirmed its status as a premier regional hub for start-ups, bolstered by an inviting investment climate, adaptable business regulations, and legislation that encourages innovation. According to Emirates News Agency, the UAE has excelled in global metrics concerning start-ups, greatly attributed to its relentless efforts to foster an investment atmosphere conducive to innovation. This progress has positively influenced the nation's position in worldwide competitiveness rankings. Recent data from Statista indicates that the UAE leads among GCC nations as a primary incubator for start-ups, with over 5,600 start-ups registered by the second quarter of 2024. Notably, the UAE has a stronghold in the fintech sector, hosting over 550 companies. A report from Startup Genome, a global consulting and research firm, supports the UAE's continued ascent in international rankings, identifying its emirates as some of the fastest-growing start-up ecosystems in the region. Key contri butors to this growth are Abu Dhabi, Dubai, and Sharjah, which are fostering an encouraging environment for start-ups in critical sectors. The report highlights Abu Dhabi's position as the fastest-growing start-up ecosystem in the Middle East and North Africa, achieving a value of US$4.2 billion from the second half of 2021 to the end of 2023. During this period, early-stage start-up funding reached US$224 million, with venture capital funding surpassing US$1 billion, propelled by Hub71, Abu Dhabi's global tech ecosystem. Ahmad Ali Alwan, CEO of Hub71, expressed in a statement to Emirates News Agency that Hub71 is attracting tech start-ups addressing global challenges and creating economic value and employment in Abu Dhabi. Alwan emphasized Hub71's mission to support start-ups in various sectors, including sustainability, aligning with Abu Dhabi's economic vision. He outlined Hub71's focus on facilitating access to capital, talent, and partnerships for entrepreneurs, enabling them to scale their businesses and contribute to Abu Dhabi's growing economy. Start-ups within Hub71 have generated over 423 jobs across 126 companies. Meanwhile, Dubai has enhanced its ecosystem for start-up growth, reaching a valuation of over US$23 billion by the end of 2023, placing first in the Gulf and second regionally. In5, a TECOM Group subsidiary, has supported 1,000 start-ups, securing AED7.8 billion in funding since 2013, playing a crucial role in Dubai's economic growth. Sharjah also contributes significantly to the UAE's business growth, with around 60,000 small, medium, and start-up companies across its free and industrial zones. By the end of last year, Sharjah's start-up ecosystem was valued at US$424 million, with early-stage funding of US$39 million.