On the third day of the Biban24 event, Saudi Arabia took significant steps in strengthening its business ecosystem, especially in the tourism sector, with the signing of more than 23 agreements and the launch of projects valued at over 580 million Saudi riyals. Organized by the Small and Medium Enterprises General Authority (Monsha’at) under the theme “A Global Destination for Opportunities,” the meeting took place at the Riyadh Front Exhibition & Conference Center.
The event focused particularly on the tourism sector, vital for the country’s economic diversification within Vision 2030. The Tourism Development Fund (TDF) announced agreements with major financial institutions, including the National Arab Bank and Raedah Finance, to support the development of small and medium-sized tourism enterprises. These initiatives are aimed at fostering economic growth and job creation, establishing tourism as a key driver for Saudi Arabia’s future.
Monsha’at also signed a strategic agreement with Microsoft Saudi Arabia, aimed at providing entrepreneurs with access to advanced technological tools and technical guidance through the Founder Hub platform. This partnership seeks to stimulate innovation and growth in SMEs, supporting local entrepreneurs through a competition designed to promote the sector.
In parallel, Monsha’at established a collaboration with Oracle, aimed at enhancing the incubator and accelerator programs both within and outside the kingdom. This initiative combines access to cloud services, data analytics tools, and artificial intelligence solutions, all crucial for the growth of new startups and SMEs. Additionally, technological agreements with Zoom and Google reinforce business digitization, facilitating communication solutions and digital marketing training.
In this innovation context, over 100 entrepreneurs advanced to the final rounds of the Entrepreneurship World Cup, illustrating the growing interest and dynamism of the global start-up sector.
Biban24 is thus established as a center for innovation and international collaboration, guiding Saudi Arabia towards a promising and diversified future, in perfect alignment with the ambitious goals of Vision 2030.
Source: MiMub in Spanish
