The Small and Medium Enterprises General Authority “Monsha’at” launched the Ebtker Award 24 on the fourth day of the Biban 24 forum, which it organizes under the theme A Global Destination for Opportunities. The award aims to strengthen the culture of innovation in the Kingdom, discover the owners of creative ideas and innovative enterprises, and showcase them locally and globally.
The Ebtker Award 24 aims to support enterprises that have adopted emerging technologies or distinctive innovations in their products, developed new business models, or improved their work environment and internal operations, and seeks to encourage these enterprises to expand and grow, contributing to the development of the national economy and increasing the contribution of innovative enterprises to GDP.
The award targets 3 main stages of participating enterprises: the idea stage, which focuses on emerging and future projects; the early stage, which includes enterprises that have succeeded in developing prototypes and are looking for seed funding; and the growth stage, dedicated to enterprises that have shown sustainable growth over 3 years and have a repeatable commercial business model.
The Ebtker Award 24 offers participants multiple benefits, starting with an intensive 5-day training camp for the nominated enterprises that provides individual guidance sessions aimed at developing participants’ skills and enabling them to achieve expansion and growth, in addition to training courses and specialized workshops in innovation, entrepreneurship, and strategies for pitching to investors and partners. This is followed by cash prizes worth SAR 300,000 distributed among the winning enterprises across the award’s various tracks, and nomination to represent the Kingdom in the Entrepreneurship World Cup, giving them the chance to present their ideas and projects on a broad global platform of investors and beneficiaries from around the world.
The Ebtker Award 24 enables innovative enterprises to reach higher levels of growth by strengthening their capabilities and providing opportunities to connect with investors and experts in the field. It also contributes to strengthening the Kingdom’s standing as a global hub for innovation and entrepreneurship, in line with the objectives of Vision 2030, which seeks to build a diversified and sustainable economy based on knowledge and technology.