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Infographic: MAGNiTT's State Of MENA Startups 2016 MAGNiTT, a UAE-based online community connecting startups, investors and support services, has released an infographic representing key statistics and features related to MENA entrepreneurship community.

By Sindhu Hariharan

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur Middle East, an international franchise of Entrepreneur Media.

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MAGNiTT, a MENA-centric online community connecting startups, investors and support services, has released an infographic representing key statistics and features related to MENA entrepreneurship community. With just over a year since its launch, MAGNiTT (a startup itself) reveals that there are more than 2,000 startups registered on its platform with 55% of the startups stating that they are in the initial stages of their lifecycle- in either "exploration," "development," "testing" or "launch" stages. Interestingly, while 62% of the enterprises indicate that they generate revenue, the stats reinforce a hurdle faced by most entrepreneurs in scaling up- seed funding. MAGNiTT data raises the oft-cited issue of inadequate angel investors in the system as 47% of registered startups admit to needing less than US$250,000 in funding- an amount low from a venture capitalist viewpoint, but more suitable for the angel investor. Perhaps in a reflection of ecosystem growth and maturity, the infographic reveals that startups based in the UAE are major adopters of MAGNiTT's services (42%), with Egypt, Lebanon, and Jordan enterprises following the Emirate at 12%, 9%, and 8% respectively. MAGNiTT's service, however, does not seem to have had the same adoption in Saudi Arabia (the largest in terms of population). KSA-based startups constitute just 5% of the MAGNiTT family.

To understand more about the trends around industry breakdown, priorities of MENA entrepreneurs, composition of the MAGNiTT ecosystem, and more, check out the infographic below.

Related: A Startup For Startups: Philip Bahoshy Wants MAGNiTT Create A Tighter Knit MENA-Wide Entrepreneurial Ecosystem

Sindhu Hariharan

Former Features Editor, Entrepreneur Middle East

Sindhu Hariharan is the Features Editor at Entrepreneur Middle East.  She is a financial consultant turned business journalist with a FOMO when it comes to everything technology.

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