No. of Deals Made
6% decrease in Deal Activity compared to 2023.
MENA Startup Funding at a Glance
$1.3B
Total Funding in 2024 (First 9 Months)
-13%
Year-over-Year Change (Decline)
Did you know? Saudi Arabia alone accounts for over 39% of MENA’s total startup funding, leading the charge in regional innovation.
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MENA Top Countries Driving Growth
Saudi Arabia
39% of total MENA funding
UAE
38% of all deals
(+12% YoY growth)
Egypt
36% YoY increase in non-MEGA funding
While the UAE remains a strong player in the MENA startup ecosystem, often leading in the number of deals, Saudi Arabia has consistently outpaced it in terms of total funding throughout 2024
The UAE continues to attract the highest deal volume in MENA, with 12% YoY growth—proving its position as one of the global startup hubs.
Investor Trends: Who’s Betting on MENA?
386
No. of unique investors (+34% YoY)
31%
Of total capital came from international investors.
Emerging Opportunities: A Global Focus on Early-Stage Growth
Growing interest from international investors, particularly from the US and UK
Increasing focus on early-stage deals by international investors
Continued resilience in non-MEGA deal funding despite overall market challenges
The Road Ahead: Tech IPOs, Innovation, and Sector Growth
Potential rise in tech IPOs, particularly in Saudi Arabia, with more than 13 startups expected to go public in the next two years
Increasing demand for innovative financial services, with digital payment solutions, peer-to-peer lending platforms, and blockchain-based initiatives gaining traction
Optimism for growth in sectors like AI, where demand surpasses competition
Source: Gulf Business, Wamda, Lucidity Insights
Emerging Trends in MENA's Startup Landscape
Rise of Digital Transformation
The MENA region is experiencing an unprecedented surge in digital transformation, accelerated by the COVID-19 pandemic. Startups are at the forefront of this change, leveraging technology to innovate and capture market share across various sectors.
Focus on Sustainability and Social Impact
There's a growing trend towards sustainability and social impact in the MENA startup ecosystem. New ventures are increasingly incorporating environmentally friendly practices and addressing social challenges in their business models.
Growth of Women Entrepreneurs
The MENA region is witnessing a significant rise in women-led startups. Despite challenges, female entrepreneurs are gaining momentum, supported by networks and resources tailored to their needs.
MENA Startups Go Public: A Year of Transformational IPOs
Talabat
A pioneer in the food delivery space, Talabat's success underscores the growing dominance of tech-driven platforms in transforming how consumers engage with F&B services across MENA.
Anghami
As the first Arab tech company to list on NASDAQ, Anghami’s journey as the MENA region’s leading music streaming platform proves the potential of homegrown tech startups to scale globally.
Parkin
A smart parking solutions provider, Parkin’s IPO reflects the growing demand for urban mobility innovation and smart city infrastructure across the region.
Dubai leads the region in startup funding, driven by its business-friendly environment, world-class infrastructure, and incentives like free zones and access to capital.
Fun Facts About MENA’s Startup Scene
Saudi Arabia Leads MENA in Startup Funding for 2024
KSA secured 39% of total MENA funding in 2024, maintaining its position as the region’s startup hub.
Economic Technology Potential
Artificial intelligence could generate up to $320 billion by 2030 in the region, with transformative applications in healthcare, food security, and productivity
Egypt Emerges as a Talent Hub for Startups
Egypt witnessed a 20% increase in tech talent hires in 2024, driven by local startup growth and global companies outsourcing to the region.
The Rise of B2B Startups: Key Drivers Shaping 2024
AI and Automation
B2B startups leveraged AI for lead generation, customer segmentation, content creation, and campaign optimization, enhancing efficiency and decision-making
Video Marketing
Videos became crucial for showcasing products, explaining complex concepts, and building trust through demos, webinars, and testimonials
Personalization
B2B companies focused on hyper-personalization, using AI-driven tools and advanced analytics to create tailored interactions
Omnichannel Presence
B2B buyers used an average of 10.2 interaction channels during their purchasing journey, pushing startups to adopt comprehensive omnichannel strategies
Digital Transformation
83% of B2B firms planned to increase digital spending in 2024, with CEOs becoming more supportive of digital initiatives
Focus on Security
B2B startups invested heavily in eCommerce security, implementing AI-powered fraud detection and secure payment processing
Sustainability
Companies integrated sustainable practices into their operations, recognizing it as a crucial driver of long-term growth
Cross-functional Collaboration
B2B organizations prioritized alignment across departments to maximize the potential of digital investments
Data-Driven Strategies
B2B marketers leveraged data insights and first-party data to create personalized experiences and enhance lead conversion
Source: Copy, 42dm, Commerce Tools
Startups Shaping the MENA Region
Get to know the innovative startups making an impact across the region.
MENA Startups by Sector
Get to know the innovative startups making an impact across the region.
Top Funding Sources in the MENA Region
Discover the leading investors fueling innovation across the region.
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