Biban24 Forum Achieves Success With Agreements Exceeding SAR35.4 Billion For SMEs

The Biban24 Forum, organised by the Small and Medium Enterprises General Authority (Monsha’at), wrapped up after five days, securing agreements and initiatives worth over SAR35.4 billion. The event, themed "Global Destination for Opportunities," drew more than 182,000 visitors, offering a platform to boost the Kingdom's SME and entrepreneurial sectors.

Monsha'at Governor Sami Alhussaini expressed satisfaction with the forum's outcomes: "Biban24 achieved great success this year. We witnessed record agreements and the introduction of many innovative initiatives that support entrepreneurship in the Kingdom. We are proud of the announcements for financing portfolios and strategic partnerships with prominent local and international entities."

The forum spanned from November 5 to 9, attracting entrepreneurs globally. It featured over 300 panel discussions and workshops with participation from more than 250 speakers, both foreign and local. These sessions provided valuable insights into various sectors including media, tourism, environment, education, sports, finance, and investment.

At the Biban Talks stage, over 100 speakers shared their expertise on diverse topics. This interactive setting allowed entrepreneurs to exchange success stories and discuss challenges they face in their ventures. Such engagements fostered a collaborative environment conducive to learning and growth.

Around 115 entrepreneurs showcased their projects at the Investors Arena. This led to preliminary agreements for deals with 65 companies valued at over SAR15 million. The arena served as a crucial meeting point for investors seeking promising opportunities in emerging businesses.

The forum also saw participation from more than 1,300 startups representing 72 countries. This diverse representation highlighted the global interest in Saudi Arabia's entrepreneurial landscape. Additionally, the event celebrated the graduation of 12 startups from the Real Estate Innovation Accelerator.

Supportive Infrastructure for Entrepreneurs

To further aid entrepreneurs, a virtual lab was launched during the forum. This initiative aims to provide ongoing support and resources for budding businesses beyond the event itself. Such infrastructure is vital for nurturing innovation and sustaining growth in the entrepreneurial ecosystem.

The Biban24 Forum successfully concluded by fostering significant collaborations and providing a robust platform for entrepreneurs worldwide. Through strategic partnerships and innovative initiatives, it continues to play a pivotal role in advancing Saudi Arabia's SME sector.

With inputs from SPA