Good news, boys and girls, our beloved Egypt has been labelled as the Fastest Growing Startup Ecosystem; Egypt was also named the second Largest Startup Ecosystem after the UAE, according to MAGNiTT’s 2018 MENA Venture Investment Report.
In 2018, Egypt’s total share of seed funding agreements increased by 7%, representing 22% of all MENA deals. Egypt was followed by Lebanon whose market share is 10%, Jordan (8%), and Saudi Arabia (7%).
Algebra Ventures Managing Partner, Ziad Mokhtar, stated to Enterprise magazine that “Egypt is seeing a second wave of entrepreneurs and investors that are more mature and experienced. The population is also starting to embrace technology for everyday activities.”
Well, isn’t that great to hear?!
By Dina Khafagy