The Small and Medium Enterprises General Authority “Monsha’at” organized the forum of the fifth cohort of the Tomoh Elite program, which comprises 20 fast-growing SMEs, with the aim of qualifying them to join the global Elite network and benefit from its services, in addition to qualifying them to enter the Nomu parallel stock market and an incentive initiative to cover the costs of the financial advisor. Monsha’at explained that 69 SMEs have benefited from the program and that more than 10 companies have been nominated to benefit from the financial incentive, across 4 cohorts of the Tomoh Elite program. The forum was held to officially launch the program and motivate the participating companies, at the Thakaa Center for the Internet of Things and Cybersecurity at Riyadh Front, in cooperation with Prince Sultan University and 20 private sector enterprises. The Tomoh Elite program works to develop promising enterprises through several main interventions, including specialized training programs and connecting the participating enterprises with a network of local and international advisors and investors, with the aim of strengthening their growth and preparing them for financing or for listing on the Nomu parallel market. Monsha’at works to meet the basic needs of SMEs, in order to create an environment that offers opportunities to thrive for all SMEs and to build an entrepreneurial community by encouraging a culture of entrepreneurship and supporting ambitious entrepreneurs, so as to raise the rate of new company formation, increase the productivity of these enterprises, and raise their contribution to GDP from 20% to 35% by 2030. This is in addition to offering a package of supporting programs, initiatives, services, and business opportunities to strengthen the growth and competitiveness of all SMEs, including the Tomoh program for companies eligible for listing through Elite.