AIM Startup, a key initiative of AIM Congress, is set to serve as a focal point for startups to capitalize on insights from 2023 and the future trends which will shape the industry in 2024. With AIM Startup, visionary tech entrepreneurs can bridge gaps in resources and investments, empowering groundbreaking ideas to thrive. Attendees can expect 1-on-1 mentorship, opportunities to win up to $60,000, and connections with industry giants.
With the Startup ecosystem gaining momentum in the ongoing year, AIM Startup promises to bring investors and startups on the same platform to achieve economic harmony globally.
As per the Global Startup Ecosystem Report 2023 (GSER 2023), Silicon Valley retained its top position in the startup industry worldwide, followed closely by New York City and London. Notable shifts include Los Angeles and Tel Aviv climbing to number 4 and number 5, respectively, and the remarkable entry of Singapore into the top 10, soaring 10 places from the previous year’s rankings. Miami made a remarkable climb to number 23, advancing ten positions.
In contrast, major Chinese ecosystems experienced shifts, with Shenzhen dropping 12 places, Beijing slipping two spots, and Shanghai down by one. Indian ecosystems witnessed upward mobility, with Mumbai tied at number 31 and Bengaluru-Karnataka and Delhi ascending to number 20 and number 24, respectively. Zurich’s entry into the top 30 marks Europe’s most significant year-on-year improvement, reflecting the dynamic and evolving nature of the global startup ecosystem.
In 2023, investors showcased a discerning focus on diverse sectors, with Fintech leading at 14% of total investments, indicative of the surging demand for digitalization and innovation in financial services. Healthcare followed closely, constituting 13% of total investments, with a notable emphasis on digital healthcare and AI-based medical solutions. A heightened awareness of environmental concerns propelled investments in Climate Technology, representing 8% of the total, driven by sustainable technology and environmental protection initiatives. Consumer Goods attracted 7% of total investments, reflecting the evolving preferences and trends in consumer demands.
The AI sector, with a staggering market value of $130 billion in 2023, anticipates a compelling Compound Annual Growth Rate (CAGR) of 37% from 2023 to 2030.
Meanwhile, The Tracxn ‘Geo Annual Report: UAE Tech 2023’ reveals a thriving tech startup landscape in the UAE, with total funding reaching $638 million in 2023. Focusing on different stages, seed-stage investments amounted to $223 million, early-stage funding secured $240 million, and late-stage funding stood at $175 million in 2023. Top-performing segments included Fintech, Environment Tech, and Blockchain Technology, raising $174 million, $168 million, and $167 million, respectively. Notably, Abu Dhabi-based tech startups raised $54 million, showcasing the city’s growing significance in the tech ecosystem.
All these insights point towards an upward trajectory for startups in 2024, hence making AIM Startup one of the most important events for the investors, startups and partners to be a part of.
The AIM Congress, a flagship event of the AIM Global Foundation, and under the theme “Adapting to a Shifting Investment Landscape: Harnessing New Potentials for Global Economic Development,” is organized with the support of the UAE Ministry of Industry and Advanced Technology and with the Abu Dhabi Department of Economic Development as lead partner. The event will be held from May 7-9, 2024, in Abu Dhabi, and is expected to attract a diverse audience, including government entities, private businesses, international and regional civil society organizations, associations, and academic institutions from around the world.
