Saudi-based VMS venture studio backs two Egyptian startups

Key Takeaways

The Middle East and North Africa (MENA) region is emerging as a technology company hotspot, with several factors driving its increasing appeal as a launchpad for startups. Local governments in the region are actively supporting the growth of the startup ecosystem through initiatives like incubation programs, accelerators, and government funding. This support paves the way for easier access to capital and essential resources for entrepreneurs, as global investors increasingly express interest in the region. E-commerce, financial technology, and supply chain management are among the thriving industries that have emerged in response to the proliferation of digital firms in the MENA region. These sectors stand to benefit significantly from further developments, potentially driving economic expansion. However, it's important to acknowledge that there is still a considerable distance to cover before the ecosystem reaches the level of maturity observed in other global tech hubs. Over the past few years, the MENA region has experienced notable growth, and we anticipate that this trend will persist in the foreseeable future.