MENA region’s entrepreneurial ecosystem looks set to rapidly flourish

The MENA region’s entrepreneurial ecosystem looks set to rapidly flourish, with key investments from major international players and a move towards a more diversified product offerings, according to Forbes Middle East. Some 3,000 new startups were reportedly launched during the previous year, garnering around USD 870 mn in new investments, according to TechCrunch. Among the key M&As driving growth is Amazon’s acquisition of Souq.com for USD 800 mn, in addition to the acquisition of food delivery service Talabat by Germany’s Delivery Hero’s. Egypt and the UAE are taking the lead on this, with the latter holding 50% of the region’s top-funded startups. Changing attitudes are also helping push this proliferation further. 73% of Egyptians find entrepreneurship a top career choice, according to the Global Entrepreneurship Monitor Report 2017.