Infographic: The Prime 10 MENA International locations For Tech Startups In 2023 | Entrepreneur

0
0
Infographic: The Prime 10 MENA International locations For Tech Startups In 2023 | Entrepreneur


Opinions expressed by Entrepreneur contributors are their very own.

You are studying Entrepreneur Center East, a world franchise of Entrepreneur Media.

Scaleups are firms which have raised funds above US$1 million since inception. As of December 2022, 749 scaleups throughout 19 international locations within the Center East and North Africa area attracted a complete of $19.5 billion in capital.

This demonstrated spectacular progress from 2021, when the variety of scaleups totaled 591, leading to a complete capital increase of $13 billion, representing 50% progress from 2021 to 2022. Compared, the gross home product (GDP) progress throughout the area was additionally spectacular at 11%, as per the Worldwide Financial Fund (IMF), throughout the identical interval.

Supply: Lucidity Insights

The previous three years have resulted in progress within the variety of scaleups, from 451 to 749 between 2020 and 2022. The scaleup density ratio, which is the variety of scaleups per 100,000 inhabitants, and scaleup investing ratio, which is the capital raised as a proportion to the GDP, has additionally seen a rise of 61% (from 0.10 to 0.16) and 97% (0.11% to 0.22%), respectively, from 2020 to 2022.

The UAE led the MENA area, with it being residence to 339 scaleups, whereas Egypt and Saudi Arabia observe with 140 and 132 scaleups, respectively. UAE scaleups accounted for 65% of complete cumulative capital raised throughout the area, whereas Saudi Arabia-headquartered scaleups account for 19% of the full capital raised by scaleups thus far. Scaleups setup exterior of the UAE, Egypt and Saudi Arabia, in one of many 16 different international locations in MENA area, account for underneath 20% of all scaleups within the area, whereas solely accounting for 9% of capital raised within the area.

Supply: Lucidity Insights

To get the lay of the investor panorama throughout Dubai and the broader MENA, and for insights supplied by the traders backing the startups and scaleups which might be altering the face of entrepreneurship within the area, try our report, Dubai’s Enterprise Capital Ecosystem, by clicking right here.

This text was initially revealed on Lucidity Insights, a accomplice of Entrepreneur Center East in growing particular experiences on the Center East and Africa’s tech and entrepreneurial ecosystems.

Associated: Constructing Resilience: Consolidation And The Future Of The MENA Startup Ecosystem



Supply hyperlink

LEAVE A REPLY

Please enter your comment!
Please enter your name here