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Successful scale-ups in the MENA region are generating on average 3.4x more revenues and 8x more jobs than other SMEs, according to new research co-authored by Strategy& and Endeavor. Released this December at Area 2071, an initiative of the Dubai Future Foundation, the study, “Scaling Up MENA SMES: How a handful of firms can fast-forward economic growth,” highlights how scale-ups positively impact economic growth in MENA and identifies priorities policymakers can use to improve their local ecosystems.
The report uses a scale-up readiness index developed through interviews and research to assesses the maturity of the scale-up ecosystems in Egypt, Jordan, Lebanon, Saudi Arabia, and the UAE, and highlights opportunities for growth in those markets across four areas: business fundamentals, business propellers, demand creators, and country readiness.
“Scale-ups can be of any age sector and are often led by visionary leaders,” said Reem Goussous, Managing Director of Endeavor Jordan. “We at Endeavor also emphasize the entrepreneur’s propensity to give back to the ecosystem by mentoring, inspiring, financing, and launching new ventures. This has the potential to create a multiplier effect in the entrepreneurship ecosystem and further drive employment and GDP growth.”
The report outlines seven key areas that all MENA countries should focus on to support the scale-ups ecosystem:
Read the full report here.
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