Monsha'at Celebrates Graduation Of 12 Startups From Real Estate Innovation Accelerator At Biban24 Forum

The Small and Medium Enterprises General Authority (Monsha'at), in collaboration with the Ministry of Municipalities and Housing, celebrated the graduation of 12 startups from the Real Estate Innovation Accelerator. This event took place during the Biban24 Forum, themed "Global Destination for Opportunities," attracting officials, entrepreneurs, and investors. The accelerator aims to enhance the real estate sector by promoting company growth and offering innovative solutions tailored to market demands.

The program focused on digitising real estate services, adopting modern construction techniques, supporting sustainability initiatives, and diversifying financial solutions. Participants benefited from intensive development programs, expert advice, and investment opportunities. The 12-week accelerator ran from July 28 to October 31, providing strategic and technical support from experienced trainers and specialists.

Monsha'at's goal is to foster innovation within the real estate sector by developing high-quality solutions that improve efficiency. This aligns with Saudi Vision 2030 objectives. The program connected startups with investors, government entities, and private organisations to boost growth opportunities. Financial grants were also provided to support their projects.

During the ceremony, Monsha’at honoured the graduating companies for their ability to develop innovative products and services in real estate. These companies were selected from over 600 applicants to the Real Estate Innovation Program. They represent diverse sectors such as waste management, energy, construction materials, real estate development, IT, 3D design and printing, property rentals, and procurement.

The Biban24 Forum is being held at the Riyadh Exhibition and Convention Center from November 5 to 9, 2024. It features extensive participation from entrepreneurs and investors worldwide. The forum aims to strengthen Saudi Arabia’s position as a regional and international hub for entrepreneurship while supporting startup growth and enhancing competitiveness across various economic sectors.

The Real Estate Innovation Accelerator was organised in partnership with several entities including the Real Estate General Authority (REGA), National Housing Company (NHC), Modern Construction Initiative, and Fintech Saudi. Through this collaboration, participants received comprehensive support aimed at improving their services and products to attract customers and investment opportunities.

Monsha'at's initiative demonstrates its commitment to advancing the real estate sector by equipping startups with necessary tools for success. By connecting them with networks of advisors and experts alongside financial backing, these companies are better positioned for future growth within a competitive market landscape.

With inputs from SPA