Startups in the Middle East and North Africa are typically looking for less than half a million dollars in funding, according to a report by MAGNiTT.
MAGNiTT is the largest online community in MENA for startups, with more than 2,000 startups using the site. The platform connects entrepreneurs with ecosystem stakeholders, funders, mentors, support services and talent. The report utilized data compiled from MAGNiTT's users.
Regionally, the UAE is the hotspot for startups, with 42 percent of the site's registered startups based in the country. Following the UAE are Egypt (12 percent), Lebanon (9 percent) and Jordan (8 percent).
Saudi Arabia only accounts for 5 percent of the platforms registered startups, but MAGNiTT acknowledges that it needs to work on growing its network in more Arabic-centric countries throughout the region.
This infographic reveals compelling information about the MENA startup scene and serves as an easy, go-to source of information for investors, entrepreneurs and regional talent.