By Lucidity Insights Research Team • March 20, 2024
Investing in Egypt’s Startup Ecosystem in 2024
In 2023, despite a stellar 2022, Egypt's startup ecosystem faced setbacks. Challenges including the global VC winter, inflation, and currency devaluation emerged, yet optimism persists for 2024 investments.
Micro, Small, and Medium Enterprises (MSMEs) contribute over 40% to Egypt’s economy and account for over 75% of the country’s total employment. Entrepreneurship plays a critical role in Egypt’s future growth. 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.
To discover more about Egypt's resilient tech ecosystem, read or download the Special Report: 'Investing in Egypt’s Startup Ecosystem’.
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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.
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