The Small and Medium Enterprises General Authority “Monsha’at” marked the third day of the Biban 24 forum, which it organizes under the theme A Global Destination for Opportunities, with the signing of 23 agreements and several launches worth more than SAR 580 million, with the aim of supporting entrepreneurship and strengthening the growth of SMEs across various sectors, in line with Saudi Vision 2030.
Monsha’at signed a cooperation agreement with the Saudi Cloud Computing Company (SCCC) in the fields of developing cloud technology solutions for digital transformation, supporting educational activities for entrepreneurs, and holding workshops and consultation sessions to support SMEs. It also signed an agreement with Microsoft to support entrepreneurs by providing cloud computing services through the Founder Hub platform, a partnership with Zoom to provide discounted and comprehensive technology solutions for virtual meetings, and a cooperation agreement with Oracle to support incubators and accelerators and provide cloud solutions and advanced tools for data analysis and artificial intelligence to support startups.
Monsha’at concluded a cooperation agreement with Omnia Education Partnerships on educational and training programs that accelerate the growth of small companies and develop entrepreneurs’ skills.
In the retail sector, it signed a memorandum of understanding with Mukatafa to hold training programs through the Retail Academy and to work on strengthening franchise models.
To strengthen investment opportunities in the Kingdom’s regions, Monsha’at signed a memorandum of understanding with the Hail Region Development Authority aimed at raising awareness of investment opportunities in the region.
The SME Bank signed multiple agreements with various entities, including the Environment Fund and the Saudi Bar Association, with the aim of providing financing and support to SMEs, strengthening their role in the national economy.
The Kafalah Program concluded several agreements with the Ministry of Health and a number of companies, including Mudad and Wakan Investment, to provide financing solutions that support the continuity and growth of small enterprises.
The Tourism Development Fund also concluded several agreements worth SAR 580 million with a number of financial institutions, including Arab National Bank, Al Raedah Finance, Tawkilat Finance, Murabaha Marina, Al Jabr Finance, Tayseer Arabia, and Manafea Finance, with the aim of strengthening SMEs in the tourism sector and supporting tourism projects that contribute to developing domestic tourism.
A partnership was also signed with the nonprofit Entrepreneurs’ Organization (EO), covering joint workshops and support for guidance services for Tomoh Program companies.
The third day also saw the launch of several quality initiatives: Microsoft announced an entrepreneurship competition to support the entrepreneurial field and encourage the growth of small and medium projects, and Google, in partnership with Monsha’at, launched the Digital Marketing Enablement Initiative.
Riyad Bank launched the Purchasing Managers’ Index for SMEs, with the aim of providing an accurate reading of the sector’s performance. The Ministry of Industry and Mineral Resources announced the launch of the second edition of Nomu, the industrial business incubators and accelerators program, as well as the launch of one of the solutions of the Industrial Sector Competitiveness Program, which aims to improve energy consumption for micro and small industrial enterprises.
In e-commerce, Squadio launched the Build Up product in cooperation with Monsha’at, while Zid announced the provision of flexible and comprehensive solutions for retailers through the Naeem platform, in addition to integrating the services of the WebEngage and Subsbase platforms to support merchants in managing operations better, worth SAR 3 million.
In the health sector, Monsha’at, in cooperation with the Ministry of Health, the Social Development Bank, and the Dulani Business Center, launched the second phase of the Health Sector Entrepreneurship and Innovation Enablement Program, which includes two main tracks.
The third day also saw the launch of the Saudi Social Entrepreneurship City Program, which aims to support leading Saudi cities in the social entrepreneurship sector through the transfer of expertise and the exchange of experiences between cities, with the aim of providing a suitable environment for the growth of social entrepreneurship organizations in the Kingdom.