Riyadh - Sharikat Mubasher: The startup ecosystem in the Middle East and North Africa (MENA) region witnessed rapid growth in September, with Saudi Arabia and the UAE dominating the landscape in terms of both fund amounts and the number of startups.
Around 60 startups in the region raised a total of $328.3 million in funding from 36 investors, reflecting the robustness and vitality of the entrepreneurial ecosystem in the region.
Saudi Arabia seized over half of the MENA startup funding with $165.34 million, followed by the UAE with $114.32 million and Egypt with $25 million, a recent report by Rasmal revealed.
Regarding the number of startups, the UAE came on the top with 28 startups, trailed by Saudi Arabia with 13 startups and Egypt with eight startups.
The Kingdom’s large share of MENA startup funding reflects the country's commitment to developing its tech and innovation sectors as part of its Vision 2030 goals.
Moreover, the increase in the number of Saudi startups underpins the government’s investments in digital infrastructure and entrepreneurship, particularly in key cities like Riyadh and Jeddah.
