Speakers at the Biban 24 forum today discussed the potential for strengthening digital infrastructure in the Kingdom, a sector that receives great attention as a key pillar of the digital transformation the Kingdom and the region are witnessing.
This came during two panel sessions, titled “Services for Equity: Opening New Horizons for Startup Growth” and “Startup Expansion from the Local Market to the Global Market”.
The two sessions addressed the importance of looking at the future of entrepreneurship in a new way and considering offering assets in exchange for services, as buying with tangible assets may be easier than obtaining cash in exchange for the services provided. The speakers noted that it is not easy for startups to obtain cash financing, and that it is better for both parties, the buyer and the service provider, for assets such as equity in the startup to be offered, since the success of startups reflects positively on equity holders, aligns the interests of the startup and the service provider, and builds customer loyalty to startups.
The two sessions examined the challenges facing creators in various digital fields and how these continue to evolve as technology evolves, and emphasized the importance of training and the transfer of knowledge, experience, and technologies as important factors in achieving profits and finding investors and partners for this success, with the fewest challenges and without repeated human intervention.