The city of Misrata has a growing technology start-up ecosystem thanks to the emergence of ICT as a catalyst for business growth and entrepreneurship in the area. A number of technology companies and service providers have been established in Misrata in recent years, offering a variety of services and contributing to the digital transformation of other companies and industries that are based in the city. Additionally, ties to Tripoli provide entrepreneurs with supplemental resources.
In March 2023 the University of Tripoli hosted a start-up accelerator competition as part of a broader programme aimed at creating 150 new technology companies across the country by 2025. These firms are contributing to job creation, economic diversification, the development of a knowledge-based economy, as well as the improvement in the quality of life in Misrata and Libya.
In June 2022 a number of Libyan tech start-ups and business incubators attended a conference in Paris, fostering knowledge exchange and networking with potential investors and business partners. The emergence of the start-up ecosystem in Misrata is beginning to provide a more conducive environment for entrepreneurial ventures, which benefit from local knowledge and experience. Efforts to create the infrastructure start-ups require, as well as mentorship, networking opportunities and funding access are under way. More recently, in May 2023, 50 companies participated in an eight-week accelerator programme to receive skills training to improve and expand their businesses. The participants represented various economic sectors from technology and digital services to agriculture, education and manufacturing.
Moreover, businesses in the manufacturing, agriculture and tourism sectors have embraced digital transformation, integrating ICT tools and technologies to streamline operations, enhance efficiency and expand their customer base. E-commerce platforms and digital marketing strategies have opened new avenues for businesses, enabling them to reach customers beyond traditional boundaries. The demand for online shopping accelerated during the Covid-19 pandemic, acting as a catalyst for businesses to adopt digital solutions.