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Biban 2023 Powers the Future of Saudi Entrepreneurship

Organized by the Small and Medium Enterprises General Authority of the Kingdom of Saudi Arabia (Monsha'at), the event has set a new benchmark for partnerships, with a diverse range of collaborations and initiatives being launched to empower entrepreneurs.

The fifth and final day of the forum brought more regional and global organizations together to usher in a new era of Saudi entrepreneurship — in line with Vision 2030 — powered by state-of-the-art programs, innovation, and effective joint working.

Notable highlights throughout the event included agreements made by the Saudi Development Bank to support entrepreneurs and SMEs with $6.4 billion, the Small & Medium Enterprises Bank to provide support estimated at $2.8 billion, and the Kafalah Program — with a $1.5 billion agreement with diverse entities.

Monsha’at also announced an MoU with Huawei Tech Investment Saudi Arabia Limited to enhance the digital transformation of the Kingdom’s SMEs, in addition to launching a partnership with Saudi Cloud Computing Company (SCCC) Alibaba Cloud. MoUs were also signed with the Ministry of Energy and Nine66 — a Savvy Games Group company.

Another major announcement at Biban 2023 arrived with the confirmation that local sellers in Saudi Arabia will gain access to Amazon’s global market in the US, Europe, and Asia.

Creating an enabling environment for global leaders, experts, and industry professionals, Biban 2023 was a diverse showcase of entrepreneurial excellence.

Biban 2023 also hosted the final round of this year’s Entrepreneurship World Cup: a startup pitch competition and support program, co-hosted by the Global Entrepreneurship Network (GEN) and Monsha’at.

White Helmet, a Saudi-based company that provides a platform to manage and monitor construction operations remotely — from anywhere and at any time — was announced, on Day 4 of the Biban forum, as the winner of the EWC grand prize: a US$300,000 share of the $1 million prize pot.

In 2nd place was NDR Medical from Singapore, receiving a US$20,000 prize, with third place going to Hera Health from the US with a $150,000 prize.

Source: BusinessWire India

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