Biban24 Forum has kicked off Tuesday in Riyadh, under the theme Global Destination for Opportunities. Running from November 5-9, 2024, the flagship event aims to empower entrepreneurs and small and medium enterprises (SMEs) by facilitating access to funding and investors.
Since the launch of Biban24, the General Authority for Small and Medium Enterprises (Monsha’at) has signed several key agreements and memoranda of understanding (MoUs) with prominent local, regional and global institutions.
Supporting SMEs at Biban24
During the second day of Biban24, Monsha’at signed an agreement with AstroLabs. It is a leading business expansion platform in the Gulf, propelling high-growth companies across strategic industries.
In line with its objectives to strengthen support for entrepreneurs and facilitate access to financing, Monsha’at signed agreements with a number of banks, including the Arab National Bank (ANB) and Qatar Development Bank (QDB).
Furthermore, the second day of Biban24 witnessed the signing of an agreement between Monsha’at and the National Events Center, a Saudi government department in charge of overseeing state-sponsored events and festivals across the country in cooperation with relevant agencies.
E-Commerce Sector
Biban24 saw the signing of an agreement between Monsha’at and Trendyol, one of the top e-commerce platforms operating across many countries.
Moreover, Monsha’at signed an agreement with Panda, a renowned Saudi retailing company and a subsidiary of The Savola Group.
Monsha’at also signed an agreement with Noon Mahali. It is a program powered by Noon to support local entrepreneurs and help them grow their businesses by providing them the needed expertise and a platform to sell their products.
Fostering Technology and Innovation
In the field of science and technology, Monsha’at signed an agreement with King Abdullah University of Science and Technology (KAUST).
Moreover, Monsha’at signed a strategic partnership with X Development Company to boost digital skills among SMEs and strengthen their competitive edge in a rapidly evolving digital business landscape by providing them with the necessary innovative tools.
Biban24 First Day Highlights
On the opening day of Biban24, Monsha’at signed more than 17 agreements and MoUs. These included an MoU with the Korean Ministry of Small and Medium Enterprises and Startups and cooperation agreements with several local banks, such as Riyad Bank, Bank Albilad, Alrajhi Bank, and Saudi National Bank.
Furthermore, Monsha’at announced over 10,000 investment opportunities through cooperation with the Invest Saudi platform, the Furas platform, and other partners.
Additionally, the London Business School (LBS) announced the expansion of its MENA Startup Competition into Saudi Arabia to support startups by giving them the opportunity to participate in the special demonstration day at the Biban24 Forum.