How MENA studios can attract funding in 2026

• Jetapult is actively scouting MENA, with Saudi Arabia emerging as a key monetisation market.
• Exel by Merak will back selected studios with $300,000 alongside mentorship and industry support.
• Supercell plans to launch a non-dilutive grants programme for African game developers in 2026.

As global investors sharpen their focus on emerging markets, the Middle East and Africa continue to attract growing interest as a game development hub. Which is why we're running the Dubai GameExpo Summit powered by PGC on May 20th to 21st and will return to Jordan later this year.

From Saudi Arabia’s push toward stronger monetisation markets to a rising wave of mobile-first studios, the opportunity is clear. But with capital becoming more selective, securing funding this year will require more than creative ambition alone.

Based on conversations with GEM Capital, Jetapult, and Merak Capital, a clear picture is emerging of what investors want, where studios stumble, and how founders can better position themselves for funding.

What investors are really looking for

Across all three firms, one theme stands out above all else: teams matter more than ideas.

According to GEM Capital MD Roman Gurskiy, strong founding teams with deep industry experience and a proven track record are a baseline requirement.

“The startup must demonstrate a scalable product with significant market potential and a robust business model capable of achieving 10x growth in five years,” he explained.

Jetapult shared a similar focus on execution ready teams, but with a sharper lens on mobile. CEO and co-founder Sharan Tulsiani said the firm is focused on mobile-first studios operating in the casual+ space, spanning hybrid casual through to midcore "with strong scaling capabilities."

Beyond genre, Jetapult looks for teams that deeply understand player behaviour, retention dynamics, and live operations. Tulsiani mentioned openness to lean, AI-augmented workflows as a growing advantage.

Merak Capital applies a similar lens through its Exel by Merak accelerator. During a conversation with VP of innovation platform Faisal Sedrani, the firm blends qualitative and quantitative measures when selecting startups.

"We assess team strength, market potential, scalability, and technical execution," said Sedrani. "We also consider how founders approach monetisation and long-term sustainability, not just the product itself."

Building games investors want to back

When it comes to attracting funding, investors agree that MENA studios need to think beyond regional success. 

Gurskiy believes studios should aim to build games with both local relevance and global appeal, demonstrate financial discipline with clear monetisation and user acquisition strategies.

He also encouraged founders to engage more actively with accelerators, regional events, and early-stage funding programmes to strengthen their visibility and networks. Jetapult echoes this view, but places particular emphasis on cultural authenticity paired with commercial clarity. 

“Authentic, scalable content is becoming a major draw for international investors,” said Tulsiani. “At the same time, studios that show commercial clarity stand out.”

From Merak’s perspective, the Exel accelerator’s $300,000 catalytic funding is designed to push founders to think beyond the product and toward long term business viability. Sedrani noted that investors want to see how a game fits into a wider market strategy, not just whether it is creatively strong. 

"Investors want to know how the game aligns with market demand, how it will attract and retain users, and how the business will generate revenue," said Sedrani. 

Mistakes that hold studios back

Despite rising interest in the region, founders continue to make familiar mistakes when pitching. For GEM Capital, one of the most common issues founders make is overemphasising creative vision without outlining a clear path to profitability. 

“Founders often present ambitious gameplay ideas but lack a clear path to profitability or scalability,” said Gurskiy. “Creativity is key to success, but studios must also be business-oriented."

Jetapult sees a similar pattern. Tulsiani noted that many founders focus heavily on vision while failing to present a grounded, executable plan. At the same time, he urged global investors to move away from treating MENA as a single market, shedding light on the region’s multiple high ARPU territories and diverse player bases.

Merak encounters the same challenge at the accelerator level. Sedrani explained that founders often pitch the game without connecting it to user acquisition, retention, or revenue generation. 

"Creativity matters, but without a clear go-to-market and monetisation plan, it’s challenging to convince investors," said Sedrani.

Funding sources to watch

Many investors are looking to back teams this year, and one of them is Jetapult. While the company's only MENA investment so far is in UMX Studio, the firm is actively scouting the region, with Saudi Arabia standing out as a key market due to its monetisation potential.

Exel by Merak selected 19 startups for its second cohort, spanning mobile, PC, and console. Cohort 2 will conclude in February 2026, and applications for Cohort 3 are set to open in April 2026. If selected, each studio will receive $300,000 alongside mentorship and industry support afterwards. 

Supercell also revealed plans to launch a new grants programme for African game developers in 2026, offering non-dilutive funding ranging from $20,000 to $200,000. The initiative will support selected studios without requiring equity or IP ownership.

Learn more about the global games industry and find investment opportunities at Pocket Gamer Connects London on January 19th to 20th.

For opportunities closer to the MENA region, join us at the Dubai GameExpo Summit powered by PGC on May 20th to 21st and will return to Jordan later this year.