Prime Highlight
- Monsha’at will launch $2 billion worth of initiatives and agreements during the Biban 2025 Forum to strengthen Saudi Arabia’s entrepreneurial ecosystem.
- The initiatives aim to boost innovation, public-private collaboration, and global expansion opportunities for startups in key sectors such as tech, tourism, and finance.
Key Facts
- The Biban 2025 Forum will be held from November 5–8 at Riyadh Front Exhibition and Conference Center under the theme “A Global Destination for Opportunities.”
- Saudi Arabia currently has over 1.8 million SMEs and led the Middle East in venture capital funding in 2024, securing nearly $750 million, supporting Vision 2030’s goal of raising SME GDP contribution from 30% to 35%.
Background
Saudi Arabia’s Small and Medium Enterprises General Authority (Monsha’at) will launch $2 billion worth of initiatives and agreements during the Biban 2025 Forum, set to be held from November 5th to 8th at the Riyadh Front Exhibition and Conference Center. The event will take place under the theme “A Global Destination for Opportunities.”
The new initiatives aim to boost the Kingdom’s entrepreneurial ecosystem and increase the role of SMEs in the national economy. They focus on key sectors such as technology, tourism, entertainment, education, and financial services. Monsha’at said the projects are designed to boost collaboration between public and private sectors, encourage innovation, and help startups expand locally and globally.
As part of Vision 2030, which aims at increasing the contribution of SMEs to GDP from 30% to 35%, Saudi Arabia has made a lot of progress in developing its SME landscape. Currently, more than 1.8 million SMEs operate in the Kingdom. In 2024, Saudi Arabia led the Middle East in venture capital funding for SMEs, securing nearly $750 million.
Biban 2025 will also have several international partnerships with Japan, South Korea, and Qatar. These partnerships are intended to bring in international investors, startups, the growth facilitation, and make Saudi Arabia a global center for entrepreneurship and innovation.
According to Monsha’at, the event will result in more funding opportunities, and business connections becoming easier, and support for the Kingdom’s vision of a vibrant economy, which is innovation-driven and in line with Vision 2030.
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