Riyadh - Exclusive Sharikat Mubasher: Saudi Arabia’s Small and Medium Enterprises General Authority (Monsha’at) launched the Virtual Lab platform to help innovators and entrepreneurs transform their innovations into tangible products, in collaboration with Saudi producers, Mohannad Abudayyah, Manager of National Innovation Ecosystem Activation at Monsha’at, stated in an interview with Sharikat Mubasher.

On the sidelines of Biban 2024, Abudayyah revealed that the authority provides financial support for innovators and entrepreneurs through the platform.

He clarified that Monsha’at launched a new service through the Fikra Platform, Rehla, to empower and connect innovators and entrepreneurs with more than 30 investing entities.

Abudayyah stated that the Innovation Door at Biban 2024 aims to empower entrepreneurs with innovative tech solutions to enhance their commercial capabilities, helping them increase revenues, reduce costs, and expand into new markets.

The Innovation Door also showcased different services provided by various entities, notably Monsha’at which offers several services in the field of innovation and technology adoption, Abudayyah added.

Biban 2024, organized by Monsha’at, convened in Riyadh from 5 to 9 November, with the participation of more than 1,350 local and international exhibitors, over 250 speakers, and more than 150 enablement entities from around the world.

It targeted creating a stimulating environment, raising administrative, financial, and technical competencies, and motivating the owners of ideas to launch their projects by allowing them to meet with local and global experts and share knowledge with key decision-makers and investors.

The event focused on empowering the entrepreneurial ecosystem in Saudi Arabia through nine doors: Enablement Door, Fast-growing Enterprises Door, Funding and Investment Door, Startup Door, Innovation Door, E-commerce Door, Franchise Door, Market Door, and Start Door.