The Small and Medium Enterprises General Authority “Monsha’at” announced Saudi Aramco’s participation as a strategic sponsor of the Biban 24 forum, which the authority organizes under the theme A Global Destination for Opportunities from November 5 to 9, 2024, at the Riyadh Front Exhibition and Conference Center.
Saudi Aramco’s participation in the forum comes as part of its support for the initiatives of the company’s National Development Program, which include the Namaat industrial investments program, the Taleed SME development program, the Wa’ed Ventures entrepreneurship center, one of the venture capital funds with a size of USD 500 million, and the Innovation and Product Development Center (LAB7). The participation also aims to strengthen communication with the public and private sectors and support innovative solutions in the fields of industrial services, manufacturing, sustainability, and digitalization, strengthening the innovation environment in the Kingdom and enterprises’ ability to achieve growth and sustainability.
The Biban 24 forum aims to strengthen the growth of entrepreneurs’ projects, increase their competitiveness, and spread the culture of entrepreneurship by supporting ambitious entrepreneurs to achieve an increase in the rate of new company formation. The forum also represents an occasion to introduce the investment opportunities in public and private sector projects and to provide young people with entrepreneurial ideas and ways to apply them, contributing to achieving Saudi Vision 2030, which aims to increase SMEs’ contribution to GDP.