How is start-up ecosystem functioning in the MENA region?

Here is a snapshot:

• 2018 saw a record number of 366 startup deals take place across MENA, amounting to $893m of total investment
• When excluding the $200m fundraise by UAE-based ride-hailing app Careem, 2018 saw a record amount of total funding in regional startups, up 31% from 2017
• The UAE remained the most active ecosystem with 30% of all deals, followed by Egypt, which was the fastest growing startup ecosystem
• FinTech overtook E-commerce as the most active industry by number of deals
• 155+ institutions invested in MENA startups in 2018, 30% from outside the region and 47% had not previously invested in the region.