The Egyptian Startup Ecosystem Report 2021 provides insights into the growth and development of the startup ecosystem in Egypt. The report highlights key trends and challenges facing Egyptian startups, as well as the opportunities that exist for them. It also covers the impact of COVID-19 on the ecosystem, the role of government and investors, and the state of funding in the country.
The Key Takeaways
Egypt's startup ecosystem is growing rapidly, with over 200 new startups established in 2020, despite the challenges posed by the COVID-19 pandemic.
Fintech remains the leading sector for startups in Egypt, followed by e-commerce, healthtech, and agritech.
The Egyptian government has launched various initiatives to support startups, including tax incentives, funding opportunities, and incubator programs.
Access to funding remains a significant challenge for startups in Egypt, but the availability of venture capital is increasing, with over $190 million invested in Egyptian startups in 2020.
The future looks promising for Egypt's startup ecosystem, with continued government support, increased access to funding, and a growing pool of skilled talent, positioning Egypt as a hub for innovation and entrepreneurship in the MENA region.
Key Figures
12,913 individuals employed by Egyptian tech startups
At least US$791,072,500 has been raised by at least 318 Egyptian tech startups across 447 individual rounds since January 2015
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