Today, the activities of the Global Today concluded the events of the Global Entrepreneurship Congress (Riyadh 2022), held under the patronage of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince, Deputy Prime Minister, and the Chairman of the Council for Economic and Development Affairs. The conference organized by the General Authority for Small and Medium Enterprises "Monshaat," in collaboration with the Global Entrepreneurship Network (GEN).

Over four days, the conference achieved a record in the value of agreements, launches, and investment rounds, totaling more than SAR 51.8 billion (equivalent to $13.8 billion). The aim is to promote entrepreneurship in various fields and enhance the Kingdom's status as an attractive environment for entrepreneurs, innovators, and creatives worldwide. The signing of agreements by the Social Development Bank with a number of organizations, including the National Entrepreneurship Institute and the Royal Commission for Jubail and Yanbu, was one of the conference's noteworthy agreements and launches.  Additionally, the  announced the launch of several products and initiatives to support and empower entrepreneurs with over SAR 11 billion (approximately $3 billion).The Saudi Venture Capital Company (SVC) signed agreements with several investment funds with a total value of 2.4 billion riyals (more than 656 million US dollars), and SABIC also launched the Nusaned Fund “2” with Al Ahli Capital Company with a value of 750 million riyals (200 million dollars) to support startups and develop the industrial sector. The launches also included the Small and Medium Enterprises Bank’s announcement of the approved budget to finance the small and medium enterprises sector, which amounted to 12 billion riyals (3.2 billion US dollars). The General Authority for Small and Medium Enterprises (Monsha’at) signed a cooperation agreement with Al Rajhi Bank worth two billion riyals (more than 533 million US dollars) to launch innovative financing programs and products. In addition to that, it signed multiple cooperation agreements with Arab National Bank, including launching innovative financing programs and products worth more than SAR 1 billion (over $293 million) and introducing a credit card for small and medium enterprises with a value of up to SAR 50 million (13 million dollars).     the Ministry of Investment announced investments and licensing for many international companies to enter the Saudi market, estimated at approximately 3.51 billion riyals (more than 936 million US dollars). The conference also included an announcement of the total value of the amounts of innovative financing programs from banks, which amounted to more than 7.3 billion riyals (two billion dollars)  for the coming five years . The Saudi British Bank (SABB) signed a cooperation agreement for innovative financing programs and products worth SAR 1 billion (more than $266 million) and another agreement to support the innovation program with a value of SAR 2.7 million (720,000 dollars). Bank Al Bilad signed an agreement with “Monsha’at” to provide innovative programs and financing products worth approximately two billion. Riyal (520 million US dollars). The Financing Guarantee Program for Small and Medium Enterprises (Kafala)  signed 12 cooperation agreements and several memoranda of understanding worth 6 billion riyals (1.6 billion US dollars), including a cooperation agreement with the Ministry of Industry and Mineral Resources, the Ministry of Municipal, Rural Affairs and Housing, the Ministry of Sports, and the Cultural Development Fund. The Tourism Development Fund, the National Industries Development Program “NIDLP,” King Saud University, Al-Jouf University, and the Work Corner Company for business incubators and accelerators. During its four days, the conference gathered entrepreneurs from more than 180 countries, hosting over 145 dialogue sessions with more than 293 speakers and 39 workshops. His Royal Highness Prince Abdulaziz bin Salman bin Abdulaziz, Minister of Energy, His Excellency the Minister of Investment, Engineer Khalid bin Abdulaziz Al-Falih, and His Excellency the Minister of Communications and Information Technology, Engineer Abdullah bin Amer Al-Sawaha. As well international speakers were included a dialogue session with Apple's co-founder Steve Wozniak and another session with Mark Randolph, the Co-founder and Former CEO of Netflix.      An associated exhibition for the Global Entrepreneurship Congress was held at the Ritz-Carlton Hotel and included participation from a number of government agencies as well as the private sector displaying enterprises from all around the world.  On the sidelines of the conference, the Global Entrepreneurship Network (GEN), in cooperation with “Monsha’at,” organized the Compass Award ceremony the award honors global entrepreneurial ecosystems, individuals, organizations, or communities with a major international effect on empowering entrepreneurs to establish and grow startups worldwide. Three Saudi entities won awards: the Ministry of Commerce won the ONE GLOBAL ECOSYSTEM AWARD, "Monsha'at" won the BRAND CHAMPION AWARD, and the Mohammed bin Salman Foundation "Misk" won the Startup Competition of the Year. Notably, the General Authority for Small and Medium Enterprises arranged for the conference attendees to participate in side events during this international gathering. These included a dinner party in the Diriyah area and a visit to Saudi Aramco. Tomorrow, the guests will travel to the Al-Ula region to gain knowledge about one of the most well-known tourist destinations in the Kingdom.