Investing into Digital Entrepreneurship in the Middle East
07 Feb 2020The Middle East and North Africa region has been a gold rush for entrepreneurs ever since they
opened their doors to investors. Public and private investors have shown a keen interest in opening
doors for new ideas to thrive in the region. Government support and ease of entry and exit norms
The Middle East and North Africa region has been a gold rush for entrepreneurs ever since they opened their doors to investors. Public and private investors have shown a keen interest in opening doors for new ideas to thrive in the region. Government support and ease of entry and exit norms have given entrepreneurs the needs support to join the start-up eco-system in the region. One of the biggest sectors into which investors have been keen to pour in their funds has been the Digital Entrepreneurship sector that has seen burgeoning growth in the recent years. The UAE, Saudi Arabia and Qatar lead the regions adoption of digital technology, but other nations are already catching up with an increase in the smartphone subscriptions that are internet enabled. There has been an explosion of public and private support networks for digital entrepreneurialism in the region, such as through the establishment of structured incubator and accelerator programs
E-commerce, digital music, fintech, travel services and logistics have emerged as the most valuable industries in the digital space. E-commerce has a growing buyer audience and a rather mature audience who have been used to international retailers but there is still space to develop newer systems that would suit the buying patterns of the Middle East customer profile. There is still scope for integrated market spaces as the current systems are still nascent and haven’t reached a level of maturity as yet. Local grown music streaming sites are seeing bigger growth in the region in comparison to the global players such as Spotify. The most popular one being Anghami, from Lebanon.
Package delivery services are fast gaining popularity as they are driven by GPS for more accurate location. As the e-commerce industry grows, this industry will also see a complementary growth effect. Fintech companies are seeing a wider acceptance with high adoption rates. Online payments have been booming since the increase in e-commerce with new multi-channel payment platforms fast gaining popularity. The Fintech firms are adapting to regional requirements faster than their international counterparts thus establishing their stronghold in the region.
Travel search engines are fast becoming competitive. Wego has dominated the market with its strong local preferences focus and mobile friendly application. The growing acceptance of travel search engines has also brought in global players such as Expedia and Priceline to the region.
Investor confidence has been at an all time high when it comes to digital market investments in the region. While the digital economy of the region has brought in new investors, the region has immense potential as it has not matured as yet. The demographic is still young and slowly becoming tech savvy. The penetration of internet-enabled mobile phones is increasing every year and investors are confidence that even region-specific digital products can flourish in the current market.
The region is perfectly poised for growth and disruption with the evolution of technology and this might just be the right time for entrepreneurs to look toward the Middle East.
have given entrepreneurs the needs support to join the start-up eco-system in the region. One of
the biggest sectors into which investors have been keen to pour in their funds has been the Digital
Entrepreneurship sector that has seen burgeoning growth in the recent years. The UAE, Saudi Arabia
and Qatar lead the regions adoption of digital technology, but other nations are already catching up
with an increase in the smartphone subscriptions that are internet enabled. There has been an
explosion of public and private support networks for digital entrepreneurialism in the region, such as
through the establishment of structured incubator and accelerator programs
E-commerce, digital music, fintech, travel services and logistics have emerged as the most valuable
industries in the digital space. E-commerce has a growing buyer audience and a rather mature
audience who have been used to international retailers but there is still space to develop newer
systems that would suit the buying patterns of the Middle East customer profile. There is still scope
for integrated market spaces as the current systems are still nascent and haven’t reached a level of
maturity as yet. Local grown music streaming sites are seeing bigger growth in the region in
comparison to the global players such as Spotify. The most popular one being Anghami, from
Lebanon.
Package delivery services are fast gaining popularity as they are driven by GPS for more accurate
location. As the e-commerce industry grows, this industry will also see a complementary growth
effect. Fintech companies are seeing a wider acceptance with high adoption rates. Online payments
have been booming since the increase in e-commerce with new multi-channel payment platforms
fast gaining popularity. The Fintech firms are adapting to regional requirements faster than their
international counterparts thus establishing their stronghold in the region.
Travel search engines are fast becoming competitive. Wego has dominated the market with its
strong local preferences focus and mobile friendly application. The growing acceptance of travel
search engines has also brought in global players such as Expedia and Priceline to the region.
Investor confidence has been at an all time high when it comes to digital market investments in the
region. While the digital economy of the region has brought in new investors, the region has
immense potential as it has not matured as yet. The demographic is still young and slowly becoming
tech savvy. The penetration of internet-enabled mobile phones is increasing every year and
investors are confidence that even region-specific digital products can flourish in the current market.
The region is perfectly poised for growth and disruption with the evolution of technology and this
might just be the right time for entrepreneurs to look toward the Middle East.
What people say
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