The region now has over 3,000 startups, and the UAE leads the pack as home to 42% of those companies, followed by Egypt with 12%, Forbes Middle East reports.

Having a conversation about the Middle East and North Africa (MENA) startup scene guarantees two things: firstly, any comparisons to Silicon Valley will be swatted away and secondly, descriptions of the ecosystem will be peppered with words like “soaring” and “infancy.”

However, there is no doubt that this growing startup ecosystem has become much more structured in recent years. Interconnectedness, technology’s role in reducing the overreliance on oil, smartphone penetration, and a diverse and young population mean the region is an attractive hub for any business. The region now has over 3,000 startups, and the UAE leads the pack as home to 42% of those companies, followed by Egypt with 12%.

Furthermore, Amazon buying Dubai-based online retailer Souq, the recent acquisition of regional startups Talabat Carriage and Yemeksepeti, and Careem, the ride-hailing app, becoming the second unicorn in the region after Souq show just how far the startup scene has come in recent years.