Explosive Growth In MENA’s Startup Ecosystem

by News Editor

March 5, 2025

February marked a groundbreaking month for MENA’s startup landscape, with an impressive $494 million raised across 58 deals—almost five times more than last year’s total for the same month. While Saudi Arabia dominated with $250.3 million accrued over 25 deals, the UAE and Egypt followed suit with $203.5 million and $27.5 million respectively.

Debt Financing Dips In February

Unlike January, where debt financing took the bulk of investments, February saw it drop to just 15% of total funding. The exclusion of debt reveals a staggering 371% increase in investment activity, highlighting a promising shift in financial dynamics.

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Industry Leaders And Rising Sectors

Fintech emerged as the leading sector, delivering $274 million over 15 deals. Insurtech and logistics took the next spots, with $55 million and $28.5 million respectively. This upswing showcases both sustained interest and escalating financial backing for key tech industries.

Regional Contributions and Gender Disparities

B2B models attracted the most attention in February, garnering $191.6 million through 33 transactions. However, gender disparities remain, as startups led by male founders bagged 87% of the total investment. Despite the progress, this underlines the need for more equitable funding allocations.

For further insights into startup ecosystems, explore how Cyprus is setting new records in global startup growth.

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University Of Cyprus To Add 890 Temporary Parking Spaces

by News Editor

August 5, 2026

The University of Cyprus is creating three temporary parking areas on its campus, adding 890 spaces in an effort to address a longstanding parking shortage affecting students’ daily routines.

New Parking Areas To Ease Campus Congestion

Parking has been one of the university’s main day-to-day challenges for years, with students often arriving well in advance to secure a space. Poorly organised parking areas have also contributed to traffic congestion during peak hours and, in some cases, damage to vehicles.

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According to Philenews, the project will cover three locations across the campus. One parking area will be created between the Library and the Senate building, another between Teaching Space 2 (ΧΩΔ 2) and the Sports Centre, while the third will be located east of the Sports Centre entrance, near the sports facilities. The latter has not previously been accessible to students and will now be adapted for parking.

Work To Be Completed By September

The €250,000 project, funded through the university’s budget, will include compacted gravel surfacing to create smoother and more functional parking areas, as well as drainage works designed to reduce mud, dust and uneven ground.

Two of the three parking areas are expected to be completed before the start of the new academic year, with the remaining site scheduled for completion by the end of September.

Although the spaces are intended as a temporary solution, they are expected to remain in use for at least two years, as any future redevelopment of the sites would require a planning process of similar length.

Permanent Parking Plans Also Underway

In the longer term, the university may repurpose the sites for new buildings or green and recreational spaces. It said future construction work is not expected to significantly affect student parking, as projects will not be carried out simultaneously across all three locations.

The university is also moving forward with plans to create 110 permanent parking spaces, with a tender expected to be issued in September. In addition, the existing 140 parking spaces are set to be reinforced, covered and equipped with solar panels.

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