UAE leads in demand for morestartup funding
The UAE has proved to remain the most active ecosystem in 2018 and this has been affirmed by Magnitt's 2018Mena Venture Investment Report. The UAE has maintained its dominance thanks to continued government support, corporate venture interest and growing investor appetite for startups. The report states that 30 per cent of all transactions were made in to UAE-headquartered startups in 2018, while it also accounted for 70 per cent of total funding. Egypt was the fastest growing ecosystem in 2018 - receiving the 2nd highest number of deals at 22 per cent of all deals, up 7 per cent from 2017. Lebanon, ranked third by number of transactions with 10 per cent, saw the highest fall in deal flow compared to 2017, with a 4 per cent drop. MAGNiTT, Mena's leading data platform tracking the region's startup ecosystem, today released their annual 2018 Mena Venture Investment Report, which provides an in depth analysis of startupfunding across the Mena. The report highlights strong growth with a record number of transactions and an increase in total funding across Mena-based startups, up 31 per cent from 2017.
Tags : INTERNATIONAL