Egypt has been experiencing a rise in startup investments in the last few years, driven by Egypt Vision 2030 which aims to boost private investments into small- and medium-sized enterprises (SMEs).
The most populous Arab nation hosts 128 active startups and 34 inactive startups that stopped operations between 2013 and 2018, according to the fourth edition of “State of Digital Investments in MENA 2013–2018” report developed by Arabnet in partnership with the Mohammed Bin Rashid Establishment for SME Development (Dubai SME).
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Launched during Arabnet Beirut X, the report analyzes MENA technology investors and investments over the period between 2013 and 2018.
According to the report, female founders of startups in Egypt account for 12% of the total 227 founders.
The North African nation came in the second place in terms of the number of investment deals in 2017 and 2018, with 51 and 40, respectively.
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Over the period between 2013 and 2018, the number of investment deals totalled 214.
Despite a drop in the number of deals from 2017 to 2018, the value of deals hiked to $66 million in 2018 from $16 million a year earlier on the back of several significant investments, including Swvl at $30 million and Vezeeta at $12 million.
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Moreover, initiatives such as the World Bank’s $200 million investment project which targets SMEs as well as huge investments into Egyptian startups are expected to promote the overall ecosystem in Egypt.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based Lawyer with special focus on Business Law, Intellectual Property Rights, Entertainment and Technology Law. He is also an award-winning writer. Working for notable organizations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution, and data analytics both in Nigeria and across the world