Gulf region witnesses an era where there is hardly a day that passes without a new major initiative, announcement or bold proclamation by the Gulf economies of United Arab Emirates, Kuwait, Oman, Qatar, Bahrain and Saudi Arabia to promote tech startups in the region. Be it incubators, investment funds or free zones, you name it and they have it.
Gulf countries have been in news for the last few years to develop a startup-fueled digital economy primarily to create another engine for growth to offset the dependence on oil and gas. Secondly, to create more avenues for private-sector job creation for its citizens who are presently almost exclusively employed in the government sector.
Major initiatives by respective authorities coupled with technological advancements are fuelling the gulf countries startup innovation trend in large way.