Best Countries in the MENA Region to Launch a Startup in 2024
The MENA region is becoming a hotbed for startup innovation, supported by government reforms, rapidly advancing digital infrastructure, and increased access to venture capital. In 2024, several countries in the Middle East and North Africa are emerging as prime locations for launching a startup. Let’s explore the best options based on various reports and trends. United Arab Emirates (UAE) To begin with, the UAE continues to be a major hub for startups in the MENA region. With cities like Dubai and Abu Dhabi leading the charge, the country offers an ...
Falcon Gate Ventures: A $100 Million Fund to Propel Web3
Singapore-based Gate Ventures, the venture capital arm of Gate.io, and the Blockchain Centre in Abu Dhabi have launched Falcon Gate Ventures, a $100 million fund aimed at accelerating Web3 innovation. This collaboration is set to transform decentralized infrastructure and applications worldwide. A Strategic Partnership for Global Impact Falcon Gate Ventures represents a significant alliance between two industry leaders. it offers deep expertise in blockchain, while the Blockchain Centre excels in Web3 technologies. Consequently, this partnership will scale blockchain projects across key regions, including the USA, Asia, Europe, and MENA. Key Pillars ...
Startup Funding in MENA Region: A Record-Breaking July 2024
Startup funding in the Middle East and North Africa (MENA) region witnessed a remarkable surge in July 2024. Notably, investments soared to USD 355 million, reflecting a dramatic 206% increase from the previous month and a 260% rise compared to July 2023. Consequently, this unprecedented growth highlights the burgeoning opportunities within the MENA startup ecosystem. Key Highlights Egypt Takes the Lead Firstly, Egypt emerged as the standout performer in July, securing USD 185 million across seven deals. This impressive figure not only eclipsed the USD 15 million raised in the ...
GCC Debt Capital Market (DCM) Sees Robust Growth in 2024
The GCC region's Debt Capital Market (DCM) grew by 7% year-on-year, reaching $940 billion in outstanding debt by the end of Q1 2024. Saudi Arabia and the UAE are major contributors, holding 43% and 30% of the total DCM, respectively. Significant Growth and Sukuk Dominance Fitch Ratings, covering over 70% of GCC US dollar sukuk, reported that sukuk made up 40% of the DCM debt by the end of Q1 2024. In comparison, the remaining debt consisted of bonds. Furthermore, Fitch predicts that government debt issuances will likely increase due ...
MENA Sukuk Market Soars 48% to $6.2 Billion
The Islamic finance sector in the Middle East and North Africa (MENA) is experiencing a surge in activity. Fueled by a growing appetite for ethical investments, Sukuk issuance skyrocketed by 48% in the first half of 2024, reaching a staggering $6.2 billion. This significant rise is driven by a focus on green and social projects, reflecting a broader global shift towards sustainable finance ...
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