Saudi Press

Saudi Arabia and the world
Friday, Aug 22, 2025

‘Entrepreneurship World Cup’ final to be held at Biban 2023 SME conference in Saudi Arabia

‘Entrepreneurship World Cup’ final to be held at Biban 2023 SME conference in Saudi Arabia

The final round of the Entrepreneurship World Cup is coming to Riyadh in March with competitors from more than 200 countries hoping to secure cash prizes worth over $1 million.
The event’s finale is a key part of Biban 2023, one of the region’s largest start-up, small and medium enterprises and entrepreneurship conferences, set for Mar. 9 to 13

Biban 2023 is organized by Saudi Arabia’s SMEs General Authority, also known as Monsha’at, and this year’s theme is ‘Attract-Connect-Achieve’.

Some 105,000 attendees from the Kingdom and abroad are set to descend on the event, which will also feature over 350 speakers sharing their insights about the SME ecosystem globally and regionally.

According to a press release, the event will host over 300 workshops, distributed among more than 20,000 beneficiaries.

The conference is being organized in Saudi Arabia at a time when the Kingdom is pursuing its journey to becoming a global hotspot for SMEs, entrepreneurship, and business innovation.

Monsha’at, through its various initiatives including hosting conferences like Biban 2023, aims to successfully achieve the targets outlined in Vision 2030 which include lowering the unemployment rate from 11.6 percent to 7 percent, increasing women’s participation in the workforce from 22 percent to 30 percent, and expanding SME contribution to 35 percent of gross domestic product by the end of this decade.

The growth of SMEs in Saudi Arabia was monumental in 2022, with Monsha’at issuing establishment-size certificates to 24,540 such businesses.

In January, a report by venture data platform MAGNiTT noted that investments in Saudi startups grew by 72 percent to a record high of SR3.701 billion ($987 million) in 2022.

To further accelerate the startup ecosystem in the Kingdom, the Saudi Central Bank, also known as SAMA, in January, reduced the minimum paid-up capital for finance firms specialized in financing and supporting SMEs to SR50 million.

SAMA also noted that the amendment made to the Implementing Regulation of the Finance Companies Control Law cements its efforts to further develop Saudi Arabia’s SME sector.
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
Dogfights in the Skies: Airbus on Track to Overtake Boeing and Claim Aviation Supremacy
Tim Cook Promises an AI Revolution at Apple: "One of the Most Significant Technologies of Our Generation"
Are AI Data Centres the Infrastructure of the Future or the Next Crisis?
Miles Worth Billions: How Airlines Generate Huge Profits
Zelenskyy Returns to White House Flanked by European Allies as Trump Pressures Land-Swap Deal with Putin
Beijing is moving into gold and other assets, diversifying away from the dollar
Cristiano Ronaldo Makes Surprise Stop at New Hong Kong Museum
Zelenskyy to Visit Washington after Trump–Putin Summit Yields No Agreement
High-Stakes Trump-Putin Summit on Ukraine Underway in Alaska
Iranian Protection Offers Chinese Vehicle Shipments a Cost Advantage over Japanese and Korean Makers
Saudi Arabia accelerates renewables to curb domestic oil use
Cristiano Ronaldo and Georgina Rodríguez announce engagement
Asia-Pacific dominates world’s busiest flight routes, with South Korea’s Jeju–Seoul corridor leading global rankings
Private Welsh island with 19th-century fort listed for sale at over £3 million
Sam Altman challenges Elon Musk with plans for Neuralink rival
Australia to Recognize the State of Palestine at UN Assembly
The Collapse of the Programmer Dream: AI Experts Now the Real High-Earners
Armenia and Azerbaijan to Sign US-Brokered Framework Agreement for Nakhchivan Corridor
British Labour Government Utilizes Counter-Terrorism Tools for Social Media Monitoring Against Legitimate Critics
WhatsApp Deletes 6.8 Million Scam Accounts Amid Rising Global Fraud
Nine people have been hospitalized and dozens of salmonella cases have been reported after an outbreak of infections linked to certain brands of pistachios and pistachio-containing products, according to the Public Health Agency of Canada
Texas Residents Face Water Restrictions While AI Data Centers Consume Millions of Gallons
Tariffs, AI, and the Shifting U.S. Macro Landscape: Navigating a New Economic Regime
India Rejects U.S. Tariff Threat, Defends Russian Oil Purchases
United States Establishes Strategic Bitcoin Reserve and Digital Asset Stockpile
Thousands of Private ChatGPT Conversations Accidentally Indexed by Google
China Tightens Mineral Controls, Curtailing Critical Inputs for Western Defence Contractors
OpenAI’s Bold Bet: Teaching AI to Think, Not Just Chat
BP’s Largest Oil and Gas Find in 25 Years Uncovered Offshore Brazil
JPMorgan and Coinbase Unveil Partnership to Let Chase Cardholders Buy Crypto Directly
British Tourist Dies Following Hair Transplant in Turkey, Police Investigate
WhatsApp Users Targeted in New Scam Involving Account Takeovers
Trump Deploys Nuclear Submarines After Threats from Former Russian President Medvedev
Germany’s Economic Breakdown and the Return of Militarization: From Industrial Collapse to a New Offensive Strategy
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
President Trump Diagnosed with Chronic Venous Insufficiency After Leg Swelling
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
"Can You Hit Moscow?" Trump Asked Zelensky To Make Putin "Feel The Pain"
Nvidia Becomes World’s First Four‑Trillion‑Dollar Company Amid AI Boom
Iranian President Reportedly Injured During Israeli Strike on Secret Facility
Kurdistan Workers Party Takes Symbolic Step Towards Peace in Northern Iraq
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
AI Raises Alarms Over Long-Term Job Security
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Russia Formally Recognizes Taliban Government in Afghanistan
×