Startups grow in MENA
In addition to being a source of innovation, startups are also credited for job creation and economic growth. In the first 10 months of 2021, startups in the Middle East and North Africa (MENA) region raised almost US$ 2 billion in investment funding, despite the economic impact of the pandemic.
Between 2010 and 2020, the MENA region witnessed a whopping 47% annual growth in total funding and 60% annual growth in the number of deals.
Driving this growth are the favourable demographics and regulatory environments in the MENA region. Over half of the population is under 25 and tech-savvy. Governments in the region are also introducing reforms and programmes to attract regional and international investment.
How can MENA governments continue to attract more startups and investments to the region?
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