TL;DR Libya has about 7.5 million people, one of the higher incomes in North Africa and an economy that rests almost entirely on oil. Half of young job seekers can't find work. The ideas that fit service oil, power and water infrastructure, train young technicians, or make trade and everyday services run more smoothly.

The market in numbers

  • Population: about 7.5 million in 2025[1].
  • GDP per capita: about US$6,450 in 2025[2].
  • Internet use: about 82% of people were online in 2024[3].
  • Oil: oil rents were about 56% of GDP in 2021, the latest year the World Bank reports[4].
  • Youth unemployment: about 50.1% of people aged 15–24 in the labour force in 2025 (modelled ILO estimate)[5].
  • Currency: the Libyan dinar (LYD).

What founders here actually have to work with

Oil is the whole story at the top level. Rents alone were more than half of GDP in 2021[4], so the biggest, most reliable buyers are oil companies, their contractors and the utilities that keep the cities running. If you can inspect, repair or maintain something they own, you have a customer.

Below that, the picture is a young population and a youth jobless rate around 50%[5]. That's painful, and it's also why skills and certification ideas make sense here. Employers need technicians, and young people need a credible way to prove they can do the work.

Most people are online[3], so phone-first services can reach them. Power supply has been unreliable in some periods [Requires validation], which makes backup power a real need rather than a luxury.

Getting money in and out can be slow, with imports and foreign payments running through the banking system and its letters of credit [Requires validation]. Ideas that depend on local labour and local buyers carry less of that risk.

Ideas that fit Libya

These were all researched for India. The rupee figures and Indian rules don't carry over, so treat each as a starting brief for Libya.

Oil, ports and plants

  • Furnacewing: Caged drones that inspect boilers, stacks and tanks during shutdowns fit refineries and power stations. Shutdowns are short, so fast reports are the product.
  • Pilesight: Yearly underwater surveys of jetty piles suit oil terminals and small ports along the coast. Start with one terminal operator.
  • Intakeview: Scheduled checks of seawater intake pipes fit coastal power and desalination plants [Requires validation]. Find out who maintains them today.
  • Limeknit: Bacterial crack sealing for leaking concrete water tanks fits ageing water infrastructure. Prove it on one tank before you pitch a utility.

Power and water

  • Islehold: Keeping a building's solar running alongside its diesel generator during cuts fits apartment blocks and offices. Sell it as fewer generator hours.
  • Anchorwatt: Solar and batteries at phone towers, with spare power sold nearby, suits areas where the grid is patchy. Talk to the mobile operators first.
  • Humcheck: Clamp-on sensors that warn before pumps and generators fail are cheap to pilot. Buildings that lean on backup power need them most.
  • Saltfree: Solar units that clean brackish groundwater suit inland towns. Design for heat, sand and local repair.
  • Heatmeter: Heat meters and work-rest schedules suit building and oilfield crews working through summer. Sell it to contractors as a safety record.

Skills and work

  • Weldready: Simulator practice and remote test review help welders pass trade tests. Oil and construction contractors are the paying buyers.
  • Hotworksim: VR safety induction for hot work fits oilfield and plant contractors. Build it in Arabic and match it to the operators' own permit rules.
  • Taskfilm: Phone-filmed practical tests let a young technician prove a skill to an employer. It's cheap to run and easy to explain.

Trade and everyday services

  • Presentwell: Checking trade documents against a letter of credit before they reach the bank fits importers who pay that way [Requires validation]. Rework it for import documents, not exports.
  • Netmatched: Matching each online order to its courier and cash payment fits sellers who deal in cash on delivery [Requires validation]. Work with local courier firms first.
  • Reissuely: Families who've lost documents need help getting them reissued. You'd rebuild the whole thing around Libya's civil registry processes [Requires validation].

Rules to check before you start

Company formation and the commercial register sit with the Ministry of Economy and Trade, whose site lists commercial register and company services, including the documents for joint-stock companies and foreign branches[6]. The central bank is the Central Bank of Libya, which matters for foreign currency and letters of credit[7]. The tax authority and sector rules for oil, health and drones need checking [Requires validation].

This is a starting list, not legal advice. Check with a local lawyer or the agency itself.

Questions founders ask

Skills and testing services need the least capital. Taskfilm and a small Weldready-style training desk can start with phones and a workshop, and contractors already pay for trained people.

Do foreigners need a local partner to start a company in Libya?

I couldn't confirm the current rule from an official source. The Ministry of Economy and Trade lists separate services for foreign branches and joint companies[6], so check with the ministry and a local lawyer before you commit.

Can a startup sell to the oil sector?

Yes, mostly as a subcontractor. Start with inspection, maintenance or training for one contractor, prove reliability, and let that reference open the next door.

Talk to Yash

In Libya the buyers with budgets are clear, and the work is getting in front of them with a service they trust. I'm happy to help you shape that pitch. If you need a hand, you know where to find me.

Talk to Yash →

Sources

  1. World Bank, "Population, total: Libya", 2025. https://api.worldbank.org/v2/country/LBY/indicator/SP.POP.TOTL?format=json&mrv=1
  2. World Bank, "GDP per capita (current US$): Libya", 2025. https://api.worldbank.org/v2/country/LBY/indicator/NY.GDP.PCAP.CD?format=json&mrv=1
  3. World Bank (ITU data), "Individuals using the Internet (% of population): Libya", 2024. https://api.worldbank.org/v2/country/LBY/indicator/IT.NET.USER.ZS?format=json&mrv=1
  4. World Bank, "Oil rents (% of GDP): Libya", 2021. https://api.worldbank.org/v2/country/LBY/indicator/NY.GDP.PETR.RT.ZS?format=json&mrv=1
  5. World Bank (ILO modelled estimate), "Unemployment, youth total (% of labor force ages 15-24): Libya", 2025. https://api.worldbank.org/v2/country/LBY/indicator/SL.UEM.1524.ZS?format=json&mrv=1
  6. Ministry of Economy and Trade of Libya, home page, 2026. https://www.economy.gov.ly/
  7. Central Bank of Libya, home page, 2026. https://cbl.gov.ly/

For illustration only. Names are fictional and ideas hypothetical; sourced facts are real but may be out of date. Nothing here is legal, financial or professional advice, and Yash Khatri is not personally liable for any use of it. Read the full disclaimer.