The Small and Medium Enterprises General Authority “Monsha’at” concluded today the semifinals of the Entrepreneurship World Cup, held as part of the Biban 24 forum, which it organizes under the theme A Global Destination for Opportunities, with 24 companies qualifying for the finals out of the 100 companies that reached the semifinals.
The qualifiers will compete for the Entrepreneurship World Cup prizes, worth $1 million, on the closing day of Biban 24. The prizes are distributed across 4 categories: three companies will receive prizes in the growth stage, 5 prizes will be awarded to the winning companies in the early stage, two prizes will be awarded in the idea stage to the best qualifying ideas, and in the innovation priorities category 4 prizes will be awarded for innovations in human health, environmental sustainability and basic needs, leadership in energy and industry, and future economies.
The Entrepreneurship World Cup aims to support entrepreneurs from all over the world and in all fields, whether the startup is at the idea stage, the early stage, or the growth stage, and to equip entrepreneurs with the tools and resources to grow and develop their startups, hone their pitching skills, and engage with a global network of mentors and guides. The competition also gives companies the opportunity to connect with global investors and global networks and to represent the Kingdom in international forums.
The prize winners will receive a range of facilitations from the competition’s partners, foremost among them easier access to the entrepreneurial license from the Ministry of Investment, the granting of Premium Residency by the Premium Residency Center, and a dedicated fast track to benefit from the services and facilitations of the National Technology Development Program.
The Entrepreneurship World Cup 2024 is the largest championship of its kind in the world, with entrepreneurs from 151 countries taking part. The competition was launched by the Mohammed bin Salman Foundation (Misk) in 2019 in partnership with the Global Entrepreneurship Network, and its finals are held annually in Riyadh. The competition offers training, guidance, and connections with investors, along with cash prizes totaling up to $1 million, in addition to several in-kind prizes.