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MENA Startups Raise $2.3 Billion In 2024, UAE Leads With $1.1 Billion

by THEFUTURE.TEAM
January 31, 2025

The startup ecosystem in the Middle East and North Africa (MENA) region demonstrated notable resilience in 2024, despite a 42% year-on-year decline in overall funding, according to the latest report from Wamda. MENA startups secured $2.3 billion in investments, with the UAE leading the way, raising $1.1 billion across 207 startups. The region also saw an increase in deal volumes and sectoral diversity, highlighting the maturing nature of the ecosystem.

Key Facts

  • Despite a significant drop in total funding, deal volumes rose by 3.5%, with 610 deals closed in 2024.
  • Saudi Arabia followed the UAE, raising $700 million across 186 deals, while Egypt secured $334 million in 84 deals.
  • Oman made a notable leap, climbing from 10th place in 2023 to 4th in 2024 with $41.5 million raised.
  • GCC countries led the funding with Oman, Bahrain, and Kuwait securing investments in smaller yet growing startup ecosystems.

GCC Leads The Way

The Gulf Cooperation Council (GCC) countries emerged as the highest-funded in the region. Oman saw significant growth, while Bahrain and Kuwait secured $29 million and $22 million, respectively. Smaller ecosystems like Jordan, Qatar, and Lebanon also showed promising development, with Jordan raising $15 million, marking a notable increase from $9 million in 2023.

Sectoral Insights In The UAE

In the UAE, three sectors dominated funding: fintech, Web 3.0, and proptech. Fintech led with $265 million raised across 47 transactions, followed closely by Web 3.0 startups with $255 million raised in 19 deals. Proptech attracted $197 million across 13 transactions. The UAE’s growing interest in these sectors aligns with the country’s global appeal, diverse population, and wealth.

Fintech Dominates Regionally

Fintech remained the most funded sector in MENA, securing 30% of the total investment, amounting to $700 million. In Egypt and the UAE, fintech led the charge, while in Saudi Arabia, software-as-a-service (SaaS) startups attracted the most attention. Web 3.0 and e-commerce startups followed closely, with $256.8 million and $253 million raised, respectively.

Early-Stage Startups Lead Investments

Early-stage startups dominated investments in 2024, attracting over $1.2 billion across 300 startups from pre-seed to Series A stages. Later-stage startups saw $332 million in funding across 10 deals, while only two startups secured pre-IPO funding, raising $143.3 million.

Investor Shifts To B2B Model

A significant shift in investor appetite was observed, with a preference for B2B models. B2B startups raised $1.2 billion across 325 companies, while B2C startups secured $717 million. Startups operating in both B2B and B2C models, as well as direct-to-consumer (D2C) startups, received the remaining investments.

Challenges And Opportunities

The MENA region’s startup ecosystem faces challenges, particularly with the decline in funding for foodtech and the underrepresentation of female-founded startups, which raised just $27.6 million, although this marked an improvement from 2023. However, the growing diversity in sectors and investor interest in B2B models present opportunities for continued growth.

Apple Launches Manufacturing Academy In Detroit To Train Next-Generation U.S. Manufacturers

by THEFUTURE.TEAM
July 29, 2025

Apple’s Strategic Investment In U.S. Manufacturing

In a bold move to expand its domestic manufacturing capabilities pursuant to growing political and economic pressures, Apple Inc. has inaugurated a state-of-the-art manufacturing initiative in downtown Detroit. The Apple Manufacturing Academy, administered by Michigan State University, is set to equip small and medium-sized businesses with cutting‐edge skills in manufacturing and artificial intelligence.

Advancing U.S. Industrial Capabilities

Under the leadership of newly designated COO Sabih Khan, Apple’s initiative is designed to train the next generation of American manufacturers. The academy will host hands‐on workshops led by Apple engineers, bridging the gap between advanced technology and traditional manufacturing. This move not only underscores Apple’s commitment to domestic investment but also seeks to unlock significant opportunities for U.S. businesses amidst the evolving global economic landscape.

A Balancing Act Amid Political Pressures

The academy’s launch comes at a time when President Donald Trump has been vocal about his expectations for U.S. job creation and domestic production. While Trump has publicly encouraged Apple to relocate iPhone assembly to the United States—a strategy that experts argue would be both costly and time-intensive—the tech giant has made substantial investments in American operations. Previously, Apple pledged to invest over $500 billion in U.S. projects, including assembling AI servers in Houston and sourcing chips from TSMC’s Arizona facility.

Strengthening Industry Partnerships

The Detroit program builds on Apple’s successful model of global developer academies, a testament to its strategy of forging robust relationships with local governments and fostering innovation. The sole U.S. developer academy, also positioned in Detroit in partnership with Michigan State University, has already demonstrated promising outcomes with an annual intake of approximately 200 students.

A Forward-Looking Vision

By introducing the Apple Manufacturing Academy, Apple extends its influence beyond hardware production to actively nurture the U.S. manufacturing ecosystem. In addition to in-person training, the program will soon offer virtual courses and consulting services, ensuring that a wide range of enterprises can benefit from smart manufacturing practices. This initiative not only reflects Apple’s global stature as a technology leader but also reinforces its strategic alignment with national economic priorities.

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