New business ventures are being born every day in the world. Many countries are now announcing various facilities for these new entrepreneurial startups. However, these initiatives can open up new horizons in a country’s economy only if the facilities or environment required for startups are available. All things considered, Riyadh has emerged as the best city in the Middle East and North Africa (MENA) for startups. So, the article is about Riyadh Lead Top Cities For Startups.
This information has been revealed in a report by the UK-based communication platform Shortlist. The report considers internet speed, the average rent for setting up an office, the job satisfaction index, and literacy status. Dubai is named after Riyadh in the report. And the third position has been occupied by Kuwait City. According to statistics, investment in startups in the Middle East and North Africa increased to 3 thousand 237 million dollars last June. A total of 66 separate agreements have made this huge investment. And among the investors, the United States is at the top.
According to the Arabian Business report, cities are ranked based on ten criteria. Riyadh, the capital of Saudi Arabia, has occupied the top position on the list of shortlists.As per the report, Riyadh is the best city in the Middle East and North Africa region for startups based on all indicators. The average broadband connection speed in the city is 94.64 Mbps or more. In addition, Riyadh has a literacy rate of 95 percent and the region’s highest score on the happiness index. On the other hand, electricity consumption is relatively low.
After Riyadh is the name of the city of Dubai. According to Shortlist data, Dubai ranks second in the best cities for startups in the Middle East due to high-speed internet connectivity. The city has an internet download speed of 189.07 Mbps, which is higher than any other city in the UK or the MENA region. Shortlist mentions this speed as perfect for hybrid working or working away from the office.
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