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Exploring the Startup Sectors Competition in MENA 2024
The startup landscape in the Middle East and North Africa (MENA) region is rapidly transforming, with various sectors experiencing significant competition and growth. Data indicates that 46% of these sectors have a high density of startups, a factor that typically drives accelerated infrastructure development, enhances support services, and fosters greater knowledge sharing within the ecosystem.
Mature sectors like commerce and fintech are particularly prominent, with over 1,000 startups in commerce and nearly 600 in fintech. In contrast, emerging areas such as sustainability and biotechnology remain in their early stages, presenting substantial opportunities for new entrants. The relatively small number of startups in these nascent sectors, coupled with their strong potential for attracting investment, suggests these sectors have room for more competition.
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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.
