UAE Start-ups Lead the Way in Climate Tech Funding

Climate technology start-ups in the UAE have dominated the funding landscape in the Middle East, North Africa, and Turkey region, according to a recent report. Over the past five years, UAE-based companies attracted $401 million, accounting for 62% of the total regional investments of $651 million. Turkey secured the second spot with $124 million, followed by Saudi Arabia with $68 million, Egypt with $42 million, and Tunisia with $6 million. The UAE’s climate tech start-ups experienced a compound annual growth rate of 120%, outpacing Turkey’s 60% growth. The momentum has continued into 2023, with $40 million invested in 30 transactions during the first half of the year. This surge in funding aligns with the UAE’s commitment to sustainability as it prepares to host the Cop28 climate change conference. The report also highlights the potential for climate tech start-ups to address the remaining 35% of emissions that can be reduced through innovative technologies. While global investment in climate tech has declined, the Mena and Turkey region has seen significant growth, with the horticultural sector receiving the largest share of funding.