Reports (2)
Startups in the Middle East and North Africa raised $36 million in June 2023
18 Jul 2023 Written by Admin SAEOnce again, the funding raised by startups in the Middle East and North Africa has dropped to a meager amount. In June 2023, the total funding amounted to only $35.6 million, distributed across 45 deals, with 17 of them being grants.
Despite the significant decline in startup funding in June 2023, as well as in April 2023, startups in the region raised over $1.6 billion during the first half of the current year.
Distribution of startup funding by country
Saudi Arabian startups took the first position in terms of funding value, with a total of over $25 million raised across 12 deals. Emirati startups ranked second with a total funding of $6 million distributed across 20 deals.
Egyptian startups secured the third position with approximately $5 million raised across 5 deals, of which $3.5 million came from a funding deal for the logistics platform Trella in the Egyptian trucking market. Moroccan, Omani, and Tunisian startups followed in subsequent positions with a total funding amount of less than half a million dollars. At the same time, startups from other countries were absent from the funding list for June 2023.
Distribution of startup funding by sectors
In terms of sector-wise distribution of funding in June 2023, the food tech sector occupied the first position with around $20 million raised across 4 deals, representing 56% of the total funding. The logistics services sector followed with approximately $4 million raised across 4 deals. In the third position, we find the gaming sector with around $3.4 million raised across only 2 deals.
Regarding the sectors that received the highest number of deals, the fintech sector ranked first with 7 deals, totaling $3.3 million in funding.
World Bank Report Highlights New Linkages between Sustainable High Growth and Job Creation
05 Dec 2018 Written by Admin SAEHigh-growth firms in emerging economies account for more than 50% of all new jobs and sales despite making up less than 20% of all firms in manufacturing and services. These firms create a domino effect on others through increased demand and/or offering improved access to inputs.
A new World Bank Group report, “High-Growth Firms: Facts, Fiction, and Policy Options for Emerging Economies “acknowledges that the extraordinary capabilities of high-growth firms have attracted the interest of policy makers who are keen to figure out how to encourage the establishment of more of these high-performing firms to boost economic performance. The report is based on a detailed analysis of firm dynamics in Brazil, Côte d’Ivoire, Ethiopia, Hungary, India, Indonesia, Mexico, South Africa, Thailand, Tunisia, and Turkey. According to the report’s analysis, the link between productivity and high growth is often weak; as firms may grow for a variety of reasons beyond technical efficiency. (read more)
