The Small and Medium Enterprises General Authority “Monsha’at” explained that the Innovation Door at the Biban 24 forum comprises four main zones aimed at strengthening the creative side of entrepreneurs and SME owners.
The Innovation Door at the Biban 24 forum, held under the theme A Global Destination for Opportunities at the Riyadh Front Exhibition and Conference Center from November 5 to 9, seeks to enable SMEs to adopt innovative solutions, inject more innovative projects into the local and international markets, and stimulate the generation of innovative business ideas that contribute to developing the innovation ecosystem.
The Innovation Door introduces the innovation ecosystem through a set of initiatives and services, and contributes to building sustainable working relationships between innovative entrepreneurs and innovative SMEs on one side and the entities able to provide opportunities that support innovation on the other, with the aim of accelerating the entry of more commercial innovations into the market.
The Innovation Door comprises four zones: the Innovation Ecosystem Entities zone, which hosts four leading entities in the field of innovation support, and the Innovation Labs zone, which includes three labs equipped with prototyping devices and model-building tools to enable entrepreneurs to turn their ideas into prototypes.
The Innovative Products Zone gives entrepreneurs the opportunity to showcase their interactive and tangible projects, while the Stage and Competitions Zone gives innovators the opportunity to present their projects to visitors and potential investors, with each project given 20 minutes to introduce its products and 10 minutes to answer questions from the audience. The zone also includes hackathons and interactive competitions to promote innovation and participation.
The Biban 24 forum aims to strengthen the culture of entrepreneurship and support SMEs by encouraging the establishment of new companies and introducing major investment opportunities, contributing to achieving the objectives of Saudi Vision 2030 in developing an innovation-based economy.