Kuwait’s Struggle to Keep Pace with Dynamic Neighbors

Kuwait’s Struggle to Keep Pace with Dynamic Neighbors

KUWAIT CITY, Nov 27: Prior to the “Corona” pandemic, Kuwait stood at the forefront of establishing startups and small projects, attracting global investors. However, in 2022, Kuwaiti “Startups” faced a decline in attracting investment capital across all sectors, with its share amounting to only $25.7 million out of the three billion dollars raised by startups …

<p>The post Kuwait’s Struggle to Keep Pace with Dynamic Neighbors first appeared on ARAB TIMES - KUWAIT NEWS.</p>KUWAIT CITY, Nov 27: Prior to the “Corona” pandemic, Kuwait stood at the forefront of establishing startups and small projects, attracting global investors. However, in 2022, Kuwaiti “Startups” faced a decline in attracting investment capital across all sectors, with its share amounting to only $25.7 million out of the three billion dollars raised by startups in the Middle East and North Africa region. This marked a significant decrease of $16 million, or 38.3%, compared to the $41.7 million raised in 2021. A report from the Wamda platform, specializing in emerging business incubators in the Middle East, revealed that Qatar and Bahrain surpassed Kuwait in fundraising during the year. Qatar secured $36.7 million, and Bahrain raised $124.7 million, while Kuwaiti startups only managed to raise $5 million. This decline