Iraq trails region in startup funding with just $100K in May

Shafaq News - Baghdad
Iraq secured only $100,000 in startup investment last month, ranking last in the Middle East and North Africa, according to Wamda Research Lab.
Startups across the region raised $289M in May through 44 deals, marking a 25% monthly increase and a 2% gain from the same period last year.
Egypt led with $125M, followed by the United Arab Emirates at $86.7M and Saudi Arabia with $68.8M. Qatar and Tunisia each drew $1M, while Oman recorded $250,000.
Analysts link Iraq’s limited share to its underdeveloped private sector, where a state-led, oil-reliant economy offers little space for entrepreneurial activity.