Startup Funding in the MENA Region

his year’s 50 Most-Funded Startups In MENA have raised nearly $3 billion in total funding, with the top 10 alone amassing $1.9 billion.

The U.A.E. dominates the list, with 22 startups securing nearly $1.8 billion combined—over 60% of the list’s total funding. It is followed by Saudi Arabia, which is home to 12 startups that raised a total of $520.4 million, while Egypt’s seven entries raised a total of $248.6 million.

Fintech and e-commerce are the most represented sectors, with 13 and 11 entries, but food-tech firms have raised the most money, with $874.9 million in total funding. This is largely thanks to cloud-kitchen operator, Kitopi, which tops this year’s ranking after bagging $804 million. Agri-tech business Pure Harvest Smart Farms is second with $272 million in total funding. Subscription video-on-demand service STARZPLAY and Fintech platform tabby came third and fourth, with $150 million and $130 million, respectively.

Buy-now-pay-later platform Tamara is the highest funded in Saudi Arabia having raised $116 million, while e-commerce player MaxAB is Egypt’s most funded startup with $62.5 million in total funding. The 2022 list includes 30 newcomers, such as North African ride-hailing and delivery startup Yassir and fintech firm PostPay.

Arab sovereign wealth funds had a healthy investor appetite in 2021. Sanabil Investments, wholly owned by the Saudi sovereign wealth fund (PIF), poured capital into Sary and Foodics, whereas the U.A.E.’s Mubadala Investment company backed tabby and Sarwa.

Mergers and acquisitions also heated up in 2021. Swvl agreed to merge with U.S.-based SPAC Queen’s Gambit Growth Capital, making it a publicly-listed company and the first $1.5 billion unicorn from the Middle East to be listed on Nasdaq. Egypt-based Fintech Halan raised $120 million in 2021, entering into a share swap agreement with MNT BV, a Netherlands corporation. And U.S. operator of delivery kitchens, logistics, and proximity hubs, REEF Technology Inc, acquired the U.A.E.’s cloud kitchen startup iKcon for an undisclosed amount.

According to the Global Startup Ecosystem Report 2021, the MENA region had four emerging ecosystems in the world’s top 100 emerging ecosystems in 2021—including Dubai, Cairo, Riyadh, and Abu Dhabi. The study indicates that the total number of late-stage funding rounds in MENA almost doubled in the last five years, while the total late-stage funding amount has also doubled.

Top 10 Book For Entrepreneurs

The best entrepreneur books are extremely popular for self-education. Working a traditional 9 to 5 job is not as common as it once was. Millions of people are carving out their own path and making money on their own terms. Becoming an entrepreneur takes massive amounts of determination. Many people have proven that putting in hard work, in the beginning, can lead to a life of leisure in the future. Reach your dreams of creating a business faster by learning from the experts. We’ve put together a list of the best entrepreneur books to buy today.

The $100 Startup by Chris Guillebeau

Creating a new life for yourself through entrepreneurship is a real possibility. Chris Guillebeau maps out the path of an entrepreneur so you can transform from a person with a passion into a person with a sustainable income based on that passion. Chris goes over 50 very interesting case studies of entrepreneurs who have created sustainable businesses with extremely low start-up costs often of $100 or less.

So many books have been written for entrepreneurs. This one really stands out because of the specific actionable information. It does not require any special training and it is a low financial risk. You will learn the inner workings of different businesses, which are very eye-opening. Guillebeau also provides convenient checklists to go through alongside concrete examples. You will be inspired to stop procrastinating and start now.

This book is not about making millions. It is about learning how to take the helpful and useful information you currently know and transform it into an income stream. Chris Guillebeau proves you do not need any special skills or a business background. He says all you need is a product or service, a group of people willing to buy it and a means to get paid.

Crushing It! by Gary Vaynerchuk

Building a brand is crucial for entrepreneurs. Gary Vaynerchuk is a master of social media and brand building. It does not matter what industry you work in, building business and influence is a game changer. Learn how to navigate all the best social media platforms, including Facebook, Instagram, Snapchat, Twitter, Pinterest and more. Plus, learn how to have a breakout podcast on iTunes, Spotify and iHeartRadio.

Using social media is the fastest way to make your business explode with sales. Learning so many different platforms can be exhausting. Learning how to use them effectively and knowing which ones to utilize in your business will get you ahead of the game. It is time to embrace social media and Gary is the author who explains it all.

Vaynerchuk is the CEO of VaynerX, a huge media holding agency. He is considered to be one of the world’s leading marketing experts. And here he gives his most innovative tips and strategies proven to help entrepreneurs excel at creating a vibrant personal brand.

The Millionaire Fastlane by MJ DeMarco

In order to earn a lot of money, you need to impact a lot of people. MJ DeMarco walks you through the road he took to becoming a millionaire and it all started with seeing a Lamborghini for the first time. His storytelling is excellent and really explains the shift in mindset you need in order to become a millionaire.

The idea here is not to come up with a 100 percent new and unique idea. It is to take what is already out there and improve upon it. Make it better. MJ lays out different ways for an entrepreneur to impact the masses. Help a million people and get into the Millionaire Fastlane. This book will help shift the way you think, creating the mindset of a true entrepreneur.

Reading MJ’s story will leave you feeling excited about the future. He also has an online forum for entrepreneurs to get even more inspiration and encouragement to build an amazing business.

The Introvert Entrepreneur by Beth Buelow

Does being around lots of people drain your energy? Do you enjoy solitude? Do people often describe you as quiet and hard to get to know? Most likely you are an introvert. Can an introvert build a thriving business or is that just for extroverts? Beth Bulow understands how introverts feel and believe introverts make fabulous entrepreneurs.

Learn how to tap into your best personality traits with the help of a mentor who speaks your language. With Beth Bulow’s guidance, introverts can build thriving businesses without pretending they are someone they are not. Get step-by-step actionable advice to help you reach your dream.

The Power of Broke

Starting a business can seem overwhelming and downright impossible if you are broke. But if you are looking through the eyes of Daymond John, broke means being pushed towards greatness. Lots of people don’t have the desire to work hard, they are comfortable. A burning feeling to change your life is often required to overcome the difficulty entrepreneurs face. Some of the most creative and relate-able entrepreneurs start out poor.

Daymond, one of the sharks on Shark Tank, and the creator of FUBU was able to create his six-billion-dollar empire with just $40! He is proof that desperation breeds innovation. Learn how many entrepreneurs harnessed the power of desperation and create something from nothing.

Now more than ever, becoming an entrepreneur is very accessible. With the power of the Internet and the ability to connect with customers, entrepreneurship is based more on creativity and not money. Get inspired by a highly respected entrepreneur in The Power of Broke.

Million Dollar Women by Julia Pimsleur

Transforming a small business into a powerhouse business does not happen overnight. Julia Pimsleur is a scaling coach for women. It is a known fact female entrepreneurs rarely make it to the big time. Only three percent earn one million in revenue or more. Julie provides a path for women to follow in order scale their business to the masses.

If you want to learn how to raise capital from investors, develop strong networks, as well as how to build a multi-million dollar company from scratch, Million Dollar Women is a great place to start. Read through interviews of women who have tons of experience. Get detailed expert advice on how to pursue your dreams.

 Will It Fly by Pat Flynn

Do you have a fabulous idea for starting a business? Pat Flynn sets you up with exactly what you need in order to test your idea before spending countless hours and money trying to make it work. Learn how to pre-launch a product, so you do not create a product until you know for sure it will sell. Doing a little work up front can save you big time!

Every entrepreneur just getting started with a new idea should run it through Pat’s Will It Fly test. Pat has been helping entrepreneurs for over a decade. He is well known for being transparent about his income and teaching others how to create multiple streams of revenue through his website Smart Passive Income.

Best for Kids: Kidpreneurs by Adam Toren and Matthew Toren

Entrepreneurship does not have an ideal person. Anyone can make a great entrepreneur and that includes kids. The workforce is rapidly changing. There are more entrepreneurs than ever before. Teaching kids how to create their own successful business will empower them to succeed in the future.

If you have a child eager to learn how to start a business, Kidpreneurs is a great way to help them get started. Choosing the right business is the first step. The book suggests fun businesses for kids such as dog walking, lemonade stands, lawn mowing businesses and more.

Kidpreneurs is laid out to be easy for kids to understand. It is packed with great illustrations and step-by-step instructions. It helps prepares kids by offering a section to lay out their business plan and includes quizzes to ensure they are following along. It is perfect for creative young minds.