Number of Exits in Egypt from 2019-2023
Looking at the number of exits of VC-backed startups in the Egyptian tech ecosystem, we see that the market is still in the nascent stages but gaining momentum.
In 2022, Egypt had a record 8 exits. In comparison with other Middle Eastern and African nations, Israel had a record 86 exits in 2021; the UAE had a record 15 exits in 2021; Turkey had a record 10 exits in 2023, and South Africa had a record 8 exits in 2023.
Related Report
Investing in Egypt’s Startup Ecosystem
Micro, Small and Medium Enterprises contribute over 40% to Egypt’s economy, and account for over 75% of the country’s total employment. Entrepreneurship is critical to Egypt’s future. Today, Egypt consistently ranks as a top 3 tech startup ecosystem in both the MENA and Africa regions, based on funds raised by local startups. In this special report, we speak to the most active investors in Egypt and cover some of the country’s most successful startups to give you an inside scoop on how they are navigating the current VC winter, inflationary pressures and currency devaluation woes.
