Startup Tunisia annual report shows 247 labelled startups generated a cumulative turnover of 71.9 million dinars (MD) in 2020.
The bulk of labelled startups, i.e. 80%, which were operating for less than 2 years in 2020 were not able to generate a substantial turnover.
Regardless of the date upon which the label was granted, labelled startups operating for over one year saw their turnover increase 7.6% in 2020.
More than half of startups achieved a turnover of less than 50,000 dinars, while one startup out of 4 (25%) generated revenues of 100,000 to 500,000 dinars.
The report also revealed that sectors posting growth in 2020 are mainly e-commerce (11.7MD), followed by education technology (8.8MD), FinTech (8.8MD), AI (7MD) and Business Software (6.9MD).
About half of the export turnover of labelled startups was achieved in Europe (45.7%).
Last year saw the export turnover to sub-Saharan Africa grew 7 points, while posting a downward trend with Asia (-3 points) and North America (-3).