Industry Ministry , Monshaat agree to establish business incubators and accelerators

The Saudi Ministry of Industry and Mineral Resources and the General Authority for Small and Medium Enterprises (Monshaat) signed an agreement to establish business incubators and accelerators.


They signed this agreement during the “Biban 23” forum, and Monshaat organized this forum.


The forum adopted the slogan “Opportunities create leadership”.


KSA held it in the Riyadh interface from the 9th to the 13th of March.


The Ministry was represented in the signing by the Undersecretary for Industrial Development, Al-Badr Fouda, while the Authority was represented by the Deputy Governor for Entrepreneurship, Saud Al-Sabhan.


The spokesman for the Ministry of Industry and Mineral Resources, Jarrah Al-Jarrah, explained that the agreement aims to set a framework for joint action between the two parties.


The agreement also aims to unify efforts between them with the relevant authorities for each party, in a way that raises the level of coordination and effective joint action in everything that supports the promotion and achievement of the desired goals.


It also seeks to develop small and medium enterprises and entrepreneurship, and the program is related to the development of national industry, logistics, and the mining sector.


He stated that the agreement will allow the two parties to cooperate in the fields of the involvement of the Authority in the projects carried out by the Ministry of establishing incubators and business accelerators related to small and medium enterprises between the parties in the targeted sectors.


This will ensure the unification of the efforts made in this regard, and the exchange of experiences, information, reports, and studies related to the entrepreneurship environment for the target sectors subject to the agreement.


According to the regulations and policies followed by both parties, in a manner that ensures the unification of efforts in this regard.

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