Riyadh – Sharikat Mubasher: Biban 24, hosted by the General Authority for Small and Medium Enterprises (Monsha’at) in Riyadh, concluded with agreements exceeding SAR 35.4 billion ($9.42 billion).
The five-day event, themed “A Global Destination for Opportunities,” welcomed over 182,000 visitors, emphasizing Saudi Arabia’s rapid progress in supporting SMEs and entrepreneurship, according to a press release issued by Monsha'at.
Monsha’at Governor Sami bin Ibrahim Al-Husseini noted that Biban 24’s success aligns with Vision 2030, highlighting record-setting deals and collaborations to strengthen the SME sector. Major partnerships included organizations from Estonia, Bahrain, and Korea, as well as tech giants like Alibaba Cloud, Zoom, and Oracle. Local banks also signed agreements worth SR15 billion to fund Saudi SMEs.
The event featured over 300 panels and workshops led by 250 speakers and showcased 59 e-commerce service providers who offered insights on digital payments, online marketplaces, and supply chains. Additionally, over 1,350 startups from 72 countries participated, with 115 business owners securing preliminary deals valued at SR15 million in the Investor Arena.
During Biban 24, Monsha’at signed a memorandum of understanding with the General Authority of Civil Aviation, aiming to enhance cooperation in supporting small and medium enterprises within the civil aviation sector through challenges, hackathons, and innovation initiatives.
Representing Monsha’at at the signing was the Deputy Governor for Entrepreneurship Sector, Saud bin Khalid Al-Sabhan, while GACA was represented by its Vice President for Aviation Security, Mohammed bin Saad Al-Fawzan.
The event also celebrated the graduation of 12 startups from the Real Estate Innovation Accelerator and introduced a virtual lab to support business growth. Biban Talks hosted 100 speakers who shared expertise on diverse topics like tourism, finance, and the environment.
Representatives from incubators and investors, including Asrar Al-Omiri of A’akelha Incubator and Ghassan Halawa of Parachute16, praised Biban 24 for fostering collaboration and showcasing entrepreneurial projects. The forum underscored Saudi Arabia’s commitment to building a vibrant SME ecosystem, supporting innovation and economic growth in line with Vision 2030.
