Biban Forum Day One: SAR22.3 Billion in Deals to Drive Innovation and SME Growth

The first day of the Biban Forum 2025, organized by the Small and Medium Enterprises General Authority (Monsha’at) in Riyadh, witnessed the signing of more than 30 agreements and memoranda of understanding, along with the launch of several entrepreneurial and financing initiatives with a total value exceeding SAR22.3 billion. These initiatives aim to strengthen entrepreneurship across various sectors and enhance the Kingdom’s position as a global hub for innovation and enterprise.

 Monsha’at signed cooperation agreements with several local banks to establish dedicated financing portfolios designed to expand funding options for entrepreneurs and micro, small, and medium enterprises, supporting their growth and investment activities.

 It also concluded three strategic cooperation agreements: one with Saudi Aramco to support high-growth enterprises; another with the Social Development Bank to provide financing and training programs for entrepreneurs; and a third with the Saudi Reef Academy to empower entrepreneurs in the agricultural sector through business development and sustainability initiatives.

 On the international level, Monsha’at signed several partnership agreements with entities from Japan, Korea, Thailand, Singapore, India, Sweden, and France. These collaborations aim to develop joint economic environments, support technology startups, establish incubators and accelerators, and design mentorship and capacity-building programs. They also include organizing joint workshops and knowledge-sharing initiatives to foster global cooperation and enhance the entrepreneurship ecosystem in the Kingdom.