In light of the Global Entrepreneurship Congress taking place in Saudi Arabia, MAGNiTT Founder & CEO Philip Bahoshy sat with Arab News to give a lay of the landscape in Emerging Venture Markets.
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VC ecosystems in Emerging Venture Markets have been on a path of gradual growth reflected in an exceptional year of funding over 2021. Observing a 138% YoY growth, the MENA region was able to cross the $2Bn mark for the first time in 2021, foreshadowing a new level of investment in this VC ecosystem. While the UAE, Egypt, and KSA acted as the main hubs for innovation and investor attraction, almost all main Emerging Venture Markets have also observed unprecedented growth in transactions and influx of capital over the past year.
While these numbers are directly linked to global and regional investors the likes of Tiger Global, Sequoia Capital, 500 Global, Global Founders Capital, Flat6Labs, and Global Ventures, to name a few, as well as startups like Halan, Unifonic, Kitopi, Tabby, and iMile with specialized skill and Tech ingenuity, this growth was a result of ecosystem symbiosis. With corporate, government, and startup collaboration through public funds, regulatory sandboxes, or even tax exemption programs- ecosystems in Emerging Venture Markets are finally able to unlock and optimize their potential. “What we are seeing is governments at every level, focusing on making it easier for startups to access markets, get talent and funding. The data shows that each of these geographies observed an increased level of investment and deal flow” Philip highlighted in conversation with Arab News. “If you’re an entrepreneur looking to raise funds, there has been no better time to go and pitch to regional investors, join accelerator programs, and benefit from government initiatives that are there,” Bahoshy concluded.
We bring you a snippet conversation between MAGNiTT’s Founder & CEO Philip Bahoshy and Arab News on the state of funding in Emerging Venture Markets :
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