- LinkedIn has announced its annual ranking of the top 10 UAE-based startups that have demonstrated exceptional growth in the past year through the LinkedIn Top Startups List 2022, the list included ekar, Postpay, Pure Harvest Smart Farms, The Giving Movement, Right Farm, Tabby, Sarwa, Baraka, Opontia and Huspy.
- The ranking was measured based on four pillars: employment growth, engagement with the company and its current employees, job interest and attraction of top talent.
- The report shows that while global hiring is trending downward across various markets, the UAE was an exception showing more than 8 per cent growth in hiring.
LinkedIn, the world’s largest professional network, has announced its annual ranking of the top 10 UAE-based companies that have demonstrated exceptional growth in the past year through the LinkedIn Top Startups List 2022.
'LinkedIn Top Startups' is an annual global ranking that lists the emerging startups to work for and is produced by LinkedIn's News team. The list is formed through an analysis of billions of interactions by the 850+ million members on the platform and measured based on four pillars: employment growth, engagement with the company and its current employees, job interest and attraction of top talent.
On the heels of the global pandemic and in light of the global economic uncertainty that followed, the companies spotlighted on this year's list are rising to the challenges of the moment and continue to innovate, gain attention and attract top talent in 2022.
While global hiring is trending downward across various markets, the UAE was an exception showing a relevant increase in hiring percentage (8.2%), which continues its streak of positive growth relative to 2021. This trend was also reflected in the companies on this list that are hiring and actively looking for talent, reinforcing their growth potential and the opportunities that lie ahead.
The Top Startups for 2022 in the UAE are:
- Pure Harvest Smart Farms
- The Giving Movement
- Right Farm
Key trends observed from this year’s Top Startups list:
Sustainable solutions are top of mind for regional entrepreneurs. Startups like Pure Harvest Smart Farms (#3) and Right Farm (#5) venture into agri-tech to offer sustainable solutions and reimagine food supply. Such innovative solutions are essential for food security, especially in this region which faces higher risks of droughts and food shortages due to climate change.
Other startups, such as The Giving Movement (#4), are doing their part by producing streetwear using sustainable materials and donating a percentage of their proceeds to different causes.
BNPLs on the rise: Buy Now, Pay Later (BNPL) platforms like Postpay (#2) and Tabby (#6) are a testament to the growth of the fintech sector, unlike other regions where such startups are on the decline.
Democratizing investment: With financial independence becoming crucial in today’s uncertain climate, a lot of retail investors are turning to fintech like Sarwa (#7), baraka (#8) and Huspy (#10) to invest their money in stocks, houses, and digital currencies.
Salma Altantawy, Senior News Editor at LinkedIn, said:
“This year’s list has witnessed the emergence of many startups from financial backgrounds with over half the list consisting of fintech, signalling the increase in popularity and adoption of innovative fintech solutions by UAE entrepreneurs and consumers.”
She adds, “UAE’s Top Startups List 2022 reflects the strong ambitions of entrepreneurs in this region. Albeit a more nascent sector regionally, the startups and VC space is facing unprecedented growth despite the economic downturn that is sweeping the globe. The startups on this list are those that are successful in navigating the evolution of consumer and business needs, leading the way through the new world of work”.
LinkedIn measures startups based on four pillars: employment growth, engagement, job interest and attraction of top talent.
Employment growth is measured as a percentage headcount increase over the methodology time frame, which must be a minimum of 10% (lowered from 15%).
Startups that have laid off 10% or more of their workforce within the methodology time frame are also ineligible.
Engagement looks at non-employee views and follows of the company’s LinkedIn page, as well as how many non-employees are viewing employees at that startup.
Job interest counts the rate at which people are viewing and applying to jobs at the company, including both paid and unpaid postings.
The attraction of top talent measures how many employees the startup has recruited, as a percentage of the startup’s total workforce.
Data is normalized across all eligible startups. The methodology time frame is July 1, 2021, through June 30, 2022. To be eligible, companies must be independent and privately held, have 50 or more country-based employees, be seven years old or younger and be headquartered in the country on whose list they appear. We exclude all staffing firms, think tanks, venture capital firms, management and IT consulting firms, nonprofits and philanthropy, accelerators, and government-owned entities. Startups that have laid off 10% or more of their workforce within the methodology time frame are also ineligible. Minority venture investments that LinkedIn or Microsoft, LinkedIn’s parent company, make in other companies have no impact on a company’s eligibility.