The General Authority for Small and Medium Enterprises (Monsha’at) has announced that 100 companies have qualified for the finals of the Entrepreneurship World Cup in Riyadh.
According to the Saudi Press Agency (SPA), the cup will be an integral part of Biban 24 Forum, scheduled to commence from November 5 and run until 9. It represents one of the largest and most integrated competitions with cash prize pool of $1 million.
Interestingly, the cup attracts tens of thousands of entrepreneurs from 200 countries all over the world who are so eager to catch prizes. The finals will bring together the top 100 companies, representing 52 countries, to compete during the Biban 24 Forum.
The participants underwent various steps including, months of national and regional qualifiers, global group selections, and a training camp for the top 250 companies.
Three Categories
Crucially, the cup offers cash prizes in three categories:
- Idea-stage companies (10 companies)
- Startup-stage companies (62 companies)
- Growth-stage companies (28 companies)
In addition to this, founders will have other competitions in specialized categories, including health, the future economy, energy and industrial leadership, and sustainable environment and basic needs provision.
The finalist companies will have the opportunity to discover Saudi Arabia’s thriving startup landscape and seize opportunities to be part of the Saudi market.
Biban24 Forum
Biban24 Forum arrives at crucial time when the Kingdom makes significant strides towards diversifying its economy and bolstering its national economy.
Earlier this year, Saudi Arabia ranked 3rd in the 2023-2024 Global Entrepreneurship Monitor report. Moreover, the Kingdom’s National Entrepreneurship Context Index score hiked from 5.0 in 2019 to 6.3 in 2023.
“With Saudi Arabia continuing to serve as a gateway to a rich range of possibilities in a diversity of markets, Biban24 Forum provides investors from the region and around the world a timely platform to explore new and emerging opportunities with the potential to boost their business prospects significantly. Fostering an enabling environment conducive to collaboration, the meaningful exchange of ideas, and innovation, the conference is set to bring even more budding and established entrepreneurs, startup founders, and leaders together to bolster the regional and global SMEs ecosystem, creating a more prosperous future for all,” Sami Ibrahim Alhussaini, Monsha’at’s Governor, said.
To get further information about Biban24 Forum, kindly click below:
https://bibanglobal.sa/
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