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Monsha’at: Biban 2024 accelerates transformation of Saudi entrepreneurship with over SAR 10.6 billion worth of agreements

RIYADH, Saudi Arabia, Nov. 09, 2024 (GLOBE NEWSWIRE) — The Small and Medium Enterprises General Authority of the Kingdom of Saudi Arabia, Monsha’at, has taken another important step towards reshaping the Saudi entrepreneurship landscape, following the announcement of 16 agreements worth more than SAR 10.6 billion on the fourth day of Biban24.

Extending its ongoing efforts to empower Saudi entrepreneurs and bolster the Kingdom’s SME infrastructure, Monsha’at also officially announced a wide selection of agreements to allocate substantial financial portfolios to financing Saudi Arabia’s rapidly growing community of entrepreneurs. This includes a portfolio worth SAR 3.1 billion, in collaboration with Tayseer Finance; as well as a portfolio valued at SAR 2 billion with Lendo Company. Monsha’at also announced a SAR 1 billion portfolio with Tarmeez Capital. These agreements are fully geared towards providing SMEs with steppingstones to success and facilitating more seamless and ready access to vital tools and resources.

The National Commercial Bank (NCB) also announced the launch of 15 new branches specialized in supporting SMEs. Additionally, Arab Bank launched the “anb digital”, a platform created to enable SMEs to submit financing applications, receive preliminary approvals, and sign contracts electronically.

The fourth day of Biban24 — the Kingdom’s flagship SME forum — also placed an emphasis on upskilling and capacity building, with a range of seminars and workshops being hosted. Covering a diversity of subjects and areas of interest, these workshops and seminars were held to empower participants, attendees and entrepreneurs from the region and beyond with access to all–important insights, resources and connections.

Organized by Monsha’at, the Small and Medium Enterprises General Authority of the Kingdom of Saudi Arabia, the event is being hosted at the Riyadh Front Exhibition & Conference Center. Held under the theme of Global Destination for Opportunities, the gathering is focused on driving the growth and development of the Saudi entrepreneurial ecosystem for local and international entrepreneurs.

In line with this goal — and the objectives of Vision 2030 — the forum will immerse visitors and attendees in an enabling atmosphere conducive to innovation, with participants being invited to explore 9 key areas, or “Doors”. These include the “Enablement”, “Fast–growing Enterprises”, “Funding and Investment”, “Startup”, “Innovation”, “E–commerce”, “Start”, “Franchise”, and “Market” Doors.

These Doors are specialized areas where businesses and entrepreneurs will be given the opportunity to explore how to reach the next level and fulfil their business potential.

https://bibanglobal.sa/

Contact:
Tarek Chahine
[email protected]


GLOBENEWSWIRE (Distribution ID 1001012340)

Monsha’at: 23 agreements worth over SAR 580 million signed on Day 3 of Biban 2024

RIYADH, Saudi Arabia, Nov. 08, 2024 (GLOBE NEWSWIRE) — On the third day of the Biban24, organized by the Small and Medium Enterprises General Authority (Monsha'at) under the theme “A Global Destination for Opportunities,” over 23 agreements were signed, along with several project launches valued at more than 580 million SAR. Taking place at the Riyadh Front Exhibition & Conference Center, Biban 2024 aims to drive the growth and development of the Saudi entrepreneurial ecosystem, fostering collaboration among local and international entrepreneurs.

Emphasizing its commitment to advancing entrepreneurship in the Saudi tourism sector, The Tourism Development Fund (TDF) has announced the signing of several landmark agreements with a range of financial institutions — including Arab National Bank, Raedah Finance, Tawkeel Finance, Murabaha Marena, Al Jabr Finance, Taseer Arabia, and Manafea Finance — at Biban24.

In line with Vision 2030, these agreements are fully geared towards strengthening small and medium–sized enterprises in the tourism sector and supporting projects that contribute to the development of local tourism.

Reaffirming its commitment to powering the future of the Kingdom’s SME sector, Monsha’at also signed a strategic agreement with Microsoft Saudi Arabia to equip entrepreneurs with the tools to realize their potential by providing greater access to vital technical and technological guidance, as well as cloud services through the Founder Hub platform.

At the event, Microsoft Saudi Arabia also announced an Entrepreneurship Competition to support the entrepreneurial sector and encourage the growth of SMEs.

Day 3 of Biban 2024 also saw Monsha’at partner with Oracle to enhance incubator and accelerator programs in the Kingdom and beyond. The partnership will leverage Monsha’at and Oracle’s resources to offer cloud services, data analytics tools, and AI solutions to support startups and SMEs.

This included the announcement of Monsha’at’s partnership with Zoom to offer discounted and comprehensive virtual meeting solutions. Google also officially announced a strategic agreement with Monsha’at to launch the Digital Marketing Enablement Initiative.

The final rounds of the Entrepreneurship World Cup also picked up pace, with over 100 finalists taking part in the finals of the annual startup pitch competition.

https://bibanglobal.sa/  

Contact:
Tarek Chahine
[email protected]


GLOBENEWSWIRE (Distribution ID 1001012167)

Monsha’at: Day 2 of Biban 2024 raises the bar for Saudi entrepreneurship with over 1.35bn Saudi Riyals worth of agreements launched

RIYADH, Saudi Arabia, Nov. 07, 2024 (GLOBE NEWSWIRE) — 20 agreements worth more than 1.35bn Saudi Riyals were signed on the second day of Biban24 forum. In line with Vision 2030, these partnerships and agreements were launched to empower Saudi Arabia’s thriving community of entrepreneurs and advance entrepreneurship in the Kingdom and beyond.

Day 2 of the immersive Biban gathering called attention to Saudi Arabia’s growth as a global investment hub, with the Social Development Bank’s (SDB) announcement of several key agreements with leading local and regional entities among some of the highlights of another eventful day at the forum.

SDB signed partnership and strategic agreements with leading bodies and organizations such as the Ministry of Industry, the Ministry of Health, and Albilad Bank. SDB will work closely with these entities to empower and finance entrepreneurs in the industrial, health, and technological sectors. SDB will also collaborate with each partner to provide access to electronic payment services to achieve financial sustainability for associations and support freelancers.

The innovation has never been more essential to overcoming the unique set of challenges SMEs and entrepreneurs across the world face. Fostering an enabling environment in which investors, businesses and entrepreneurs are empowered to innovate and pioneer truly groundbreaking enterprises, partnership and agreements is key to unlocking potential – the potential of up–and–coming startups, the region, and the global SME ecosystem as a whole. Biban24 is fully geared towards doing just that, providing meaningful steppingstones to lasting success.

The largest event of its kind in the Kingdom, Biban24 — the flagship startup and SME forum — held from 5 to 9 November 2024 at the Riyadh Front Exhibition & Conference Center.

Organized by Monsha’at, the Small and Medium Enterprises General Authority of the Kingdom of Saudi Arabia, this year’s gathering will be hosted under the theme of Global Destination for Opportunities.

https://bibanglobal.sa/  

Contact:
Tarek Chahine
[email protected]


GLOBENEWSWIRE (Distribution ID 1001011948)