Oasis500

Whether in Beirut, Cairo, Dubai, Riyadh or even Gaza City, small technology firms are multiplying, creating a sort of “start-up spring”. …
Although the Arab world is behind other regions in internet use (see chart), it is catching up fast, along with smartphone penetration and e-commerce. What is more, cultural and linguistic barriers provide some protection against foreign internet giants.
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There is plenty of money sloshing about, but investors prefer safe, tangible bets such as property and factories over putting their cash into high-risk start-ups. “Venture capital is an animal people here can’t quite understand,” explains an American executive who is raising a fund in Dubai. “Investors often ask: ‘What do you mean, you can lose all the money?’”