Global economic volatility and recession risk test the business resilience of startups. But for firms in emerging markets across Africa and the Middle East, the macroeconomic impact on business growth and investment so far seems less severe. In fact, while startups in those regions have not completely evaded the current macroeconomic volatility, Said Murad, partner at UAE-based venture capital (VC) firm Global Ventures, says, “It’s not been at the same magnitude as what we’ve seen in other markets, such as the U.S., for example.”