Einar H. Dyvik
Research expert covering Nordics and global data for society, economy, and politics
Tech startups in Egypt - statistics & facts
Egypt has rapidly emerged as one of the leading hubs for tech startups on the African continent. From e-commerce to healthtech and fintech, the country is attracting increasing investor attention thanks to its large consumer market, strategic geographic location, and growing pool of tech-savvy entrepreneurs. As of 2024, Egypt ranked second in Africa by number of tech startups, with over 2,000 ventures operating across various sectors. In terms of funding, Egyptian startups raised a total of 312 million U.S. dollars in 2024, making the country one of the top three destinations for tech investment in the region. This growth comes amid broader economic challenges, including inflation and currency instability, which have tested the business environment in recent years. But what’s behind Egypt’s ascent, and how resilient is its startup ecosystem in the face of economic uncertainty?
