Funding is really lacking in our region, something is clearly broken.
And the signs are examples like $100k in Lebanon. Such an amazing country full of talented people that can teach many of us on marketing, sales and product.
Yet it lacks the funding it needs to keep and nurture its people.
The region needs new models of funding.
We are not just different states where people have access or can change their state like in the US.
Each country is unique with its own set of restrictions and problems.
Which mostly, just pushes the best founders to change the whole region in order to have a chance at success.
And slows down the compounding effect of learning through failing, where each team that pushes the edge hands it over to the next one.
Without that momentum we will still keep on taking small bets separately.
Just to compare, a VC fund in Silicon Valley invest in a team comprised of a Californian, a Texan, an Indian, an Egyptian, a Lebanese, etc.
Thanks for the nudge Abdul Majeed Shoman Jr.
In H1 2024, UAE startups led with $455.5M in funding, down from $604M last year. KSA followed with $300M, down from $554M.
Egypt’s economic crisis caused an 80% drop in startup funding to $83M, while Morocco saw growth with $12.5M for 6 startups.
For insights into H1 2024 developments, read the full report Wamda at https://bit.ly/3VY0B7g
#Startups #Investments #Funding #Mena
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1moInteresting Tambi Jalouqa I agree that DFIs might not be best suited for the high-risk nature of VC due to a lack of expertise, misalignment with their development-focused missions. Add to that potential conflicts with their more conservative risk profiles. And they can still support the growth of innovative companies indirectly while leveraging the expertise of specialized VC managers.