By Conrad Onyango – bird NewsroomSeemingly from nowhere, Egypt is suddenly on the radar as a key African startup funding destination, highlighting the prospects for continental growth of the nascent sector. A new report tracking the North African country startup scene says Egypt now rivals – and even surpasses – more established startup ecosystems like South Africa, Nigeria and Kenya for levels of entrepreneurial innovation and investment. Since January 2015, more than $791m has been raised by some 318 tech startups across 447 individual rounds. Every year Egypt has been adding 114 tech startups to its ecosystem from a paltry ten in 2015. With more and more funding flowing into African startups the game is well and truly on.

Source: The North Africa Journal November 24, 2021 08:27 UTC