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 trying (without much success) 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.
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