Impact of COVID-19 on the tech entrepreneurship ecosystem in MENA
As the COVID-19 outbreak continues to impact the way we live, work, and operate, very few start-ups across the Middle East and North Africa (MENA) region have managed to escape the repercussions of this pandemic. Some sectors have witnessed a surge in demand, while others seem to be struggling.
A report developed by Wamda and Arabnet identifies how COVID-19 impacts the region’s entrepreneurship sector and the measures that can be taken to alleviate the financial stress on start-ups.
Start-ups based in the United Arab Emirates (UAE) represent the largest contingent of the survey, with close to a quarter (24.7%) of respondents based in the Emirates, followed by Lebanon, Saudi Arabia, and Egypt. Software as a Service (SaaS), e-commerce, and financial technology (fintech) are the most represented sectors. E-grocery or foodtech, education technology (edtech), health technology (healthtech), and on-demand services are also well represented – a reflection of a diversified ecosystem.