Welcome to the wild world of startups in the Middle East and North Africa (MENA). The region is experiencing an entrepreneurial renaissance, as supportive government policies, more open economic landscapes, and innovative ideas encourage people to take up the reins and build their own businesses.

In the first quarter of 2023, startups in the MENA raised $1.1 billion, according to a report by Wamda. Predictably, Saudi Arabia, the UAE, and Egypt were leaders in the region. However, MENA has felt the ripple effects of a global capital crunch, with investors scrutinizing startups (and their founders) more closely before committing to an investment. The quarter also demonstrated a trend away from investing in later stages, with early-stage startups accounting for the bulk of investments.

This list represents the startup ecosystem in the region this year, reflecting key market trends: Fintech startups are in abundance, as entrepreneurs see the value in banking the unbanked, and providing people in the region with new ways to pay, including digital banking and buy now, pay later applications. Meanwhile, agritech is sprouting up with a dual purpose – providing food in areas with scarce supplies of freshwater, and doing so sustainably. While we only count two agritech startups on our list this year, they are well into their growth stages and receiving plenty of interest globally. Notably absent from the list are AI companies, likely as the technology is nascent and just hitting peak popularity, thanks to the ongoing generative AI gold rush, but we expect to see more AI startups in the future.

The WIRED Middle East editorial team formulated this list based on four key criteria: total financing received in equity and debt; the current and potential impact of the startup on its vertical in the region; its regional presence; and its progress. The latter refers to how advanced the startup is in its ecosystem, including regulatory approvals, major partnerships, or expansion plans. The list is not presented in a particular order, and is split by sector.