By Sam Mahdavi / MAGNiTT - Image Credit: MAGNiTT
MAGNiTT is excited to be attending one of the Middle Easts largest Entrepreneurship events at the Step Conference 2018 this year. Are you going to be there?
Always a great opportunity for Startups and their founders to connect with Investors and Venture Capitalist funds from across the Middle East region.
Last year according to the MAGNiTT 2017 State of Funding report 282 deals were disclosed with total funding of USD 579 Million dollars of investment. The STEP conference is always a great place for match making between founders and investors.
MAGNiTT wanted to share some statistics and figures about the startups showcasing at the largest experiential technology festival in the MENA:
It comes as no surprise that United Arab Emirates (UAE) based startups are outnumbering the rest, with 63% of the startups being based here, followed by startups from Egypt and Saudi Arabia, each accounting for 7%. There will be a total of 19 countries represented at the event, from all around the world.
Of the 20 different industries that will be represented at STEP, 22% of all startups are either in the field of Technology or E-Commerce, making them the most common industries, followed by HR & Professional Services which account for 7%.
On the other hand, industries such as Virtual Reality and Augmented Reality, Fashion and Multimedia will be the least well represented.
Of all the showcasing startups this year 22% have previously disclosed funding rounds according to MAGNiTT, while half of these startups have last raised a SEED funding round, the other half have raised an Angel round.
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Make sure to tune in March 28-29th at Dubai Internet City and meet your favorite startups!