Monsha’at Partners With Miltton CIO World To Enhance Innovation And Entrepreneurship In Saudi Arabia

The Small and Medium Enterprises General Authority, known as "Monsha’at," has entered into a partnership with the Estonian firm Miltton CIO World. This collaboration aims to boost innovation, entrepreneurship, and the development of SMEs across various sectors. The agreement was formalised at the Biban24 Forum in Riyadh, focusing on expanding Saudi-Estonian cooperation in innovation and supporting entrepreneurs.

This partnership will facilitate joint events and workshops to strengthen capacity building and enhance the entrepreneurial ecosystem. It includes developing studies and research on innovation and technology, exchanging information and data, and organising events for knowledge transfer between both parties. These initiatives aim to empower SME entrepreneurs by leveraging digital knowledge and advanced technologies in sustainability.

Monsha’at Deputy Governor for Entrepreneurship Saud Al-Sabhan and Miltton Events CEO Lehari Kaustel signed the agreement on the third day of Biban24. The forum, hosted by Monsha’at from November 5 to 9, is themed "Global Destination for Opportunities." It focuses on enhancing innovation and boosting economic development in Saudi Arabia.

Biban24 serves as a platform that brings together investors, entrepreneurs, and decision-makers at the Riyadh Front Exhibition and Conference Center. The event offers over 10,000 investment opportunities. The agreements signed during Biban24 highlight Saudi Arabia's commitment to fostering a supportive business environment aligned with Saudi Vision 2023.

This vision aims to advance the digital economy while paving the way for promising projects. The collaboration also enhances SME access to new markets, further supporting their growth. By focusing on these areas, Monsha’at seeks to bolster economic development through strategic partnerships.

The agreement underscores Saudi Arabia's dedication to nurturing an environment conducive to business growth. It aligns with efforts to promote innovation across various sectors, ensuring that SMEs can thrive in a rapidly evolving market landscape.

With inputs from SPA