Effects of COVID-19 for MENA start-ups revealed

iStock [illustration]

March saw the beginning of the potential effect that the Coronavirus pandemic will have on tech startups, including them delaying announcements.

That's according to startup data platform MAGNiTT, which found that there was a 67 per cent year-on-year drop in transactions last month.

Their Founder and CEO Philip Bahoshy says startups and investors are re-evaluating their position in this new environment.

More from Business

Coming Up on Dubai Eye

  • Motor Mania

    10:00am - Noon

  • The Best of Dubai Eye 103.8

    Noon - 7:00pm

    Hear the highlights from the week gone by on Dubai Eye 103.8. Listen again to the best interviews, advice and the top stories that has gripped our conversation this week.

BUSINESS BREAKFAST LATEST

On Dubai Eye

  • Flying Taxis

    It sounds like an episode of The Jetsons, but the sight of flying taxis whizzing around our cities could be much closer than you think.

  • Tough penalties for deliberate tax evasion

    The UAE has said that tougher penalties will come into force from 1st August for not keeping proper corporate tax records.