Saudi Press

Saudi Arabia and the world
Wednesday, Oct 08, 2025

Forum seeks to spur growth of SMEs in Saudi Arabia

Forum seeks to spur growth of SMEs in Saudi Arabia

Saudi Arabia’s global small and medium enterprises forum is set to return on March 9 at the Riyadh Front Exhibition & Conference Center with the largest audience yet, according to a statement.

Also referred to as Biban 2023, the event — which runs until March 13 — is expected to witness the participation of over 350 speakers as well as an estimated 105,000 attendees from the Kingdom and all over the world.

Prominent international speakers scheduled to attend the forum include South Korea’s SMEs and Startups Minister Lee Young, YouTube CTO and Co-founder Steve Chen, Global Entrepreneurship Network board chairman Jeff Hoffman and Chris Barton, founder and creator of Shazam.

The event — organized by the General Authority for Small and Medium Enterprises, also known as Monsha’at — is also on track to host as many as 300 diverse workshops. This year’s forum will be held under the theme “Attract-Connect-Achieve.”

Through the sharing of knowledge, skills, and resources, the five-day event aims to capture and shed light on potential and tangible opportunities for SMEs, entrepreneurs, and local and international investors.

It would be pertinent to mention that according to the Global Entrepreneurship Monitor’s 2022 National Entrepreneurship Context Index, the Kingdom is now the second-best economy in the world to start a business, reflecting a rapidly advancing startup ecosystem, and a wealth of business opportunities for local and international entrepreneurs.

Biban 2023 will also host nine key areas or doors including the Growth Door, the e-Commerce Door, the Innovation Door, the Finance Door, the Startup Door, the Market Door, and the Empowerment Door, among others.

Doors of opportunity

The “Growth Door” contributes to introducing the owners of existing projects to several areas including administrative, operational, marketing, legal, and technical that ensure the expansion of the project.

The “e-Commerce Door,” in which more than 80 supporting entities will participate, seeks to promote development in the e-commerce sector, increase its sales and potentially contribute to strengthening the economy by providing everything that a business owner needs to launch into the world of e-commerce.

The “Innovation Door” aims to stimulate creative aspects or works to discover smart entrepreneurial ideas. It will also introduce beneficiaries to emerging technologies and their applications, in addition to the most prominent supporting bodies based on innovative solutions.

The “Finance Door” will open new channels as well as various financing solutions while bringing together financing and investment agencies under one roof, in cooperation with supporting public and private agencies. This door aims to bridge the financing and lending gaps for SMEs in a way that enables the entrepreneur to find the right partner for the project at hand.

The “Market Door” will serve as a platform for startups and SMEs to display their products and provide their services. It also works on motivating local and international business owners of SMEs to expand internationally with their projects and brands.

The Saudi Vision 2030 seeks to boost the SME sector’s contribution to the gross domestic product to 35 percent within a decade.


The “Startup Door” defines the support provided to startups and entrepreneurs by providing an enhanced environment for spreading awareness of SMEs, while raising the level of communication between project owners, investors, and supporting entities such as incubators and accelerators.

The “Empowerment Door” includes more than 120 supportive and empowering entities targeting owners of SMEs and businessmen by providing services and initiatives to empower and support entrepreneurs, especially those who own or manage SMEs.

Key sessions


The first day of the event will witness six key sessions: The importance of entrepreneurship for economic development and the growth of key sectors in the Kingdom; South Korean SMEs exploring opportunities in the Kingdom; Funding and talent a key showstopper of growth driver powered by endeavor; The journey to IPO; Investing in technology: what investors are looking for; and Financing entrepreneurship — an opportunity or risk for commercial banks?

The second day will hold three chief sessions: International startups unlocking opportunities in the Kingdom; Bridging international ecosystems: enhancing collaboration between SME authorities; and Why we need an ambitious generation.

As for the third day, four key sessions include: The importance of startups and SMEs for the global travel and tourism sector; The increasing role of environmental, social, and governance and what startups and SMEs need to consider; Fintech revolution: how technology is disrupting financial services; and Venture debt versus venture capital — what is the right approach and when?

The fourth day of the event will also host four main sessions: How to bring an idea to life: A guide to ideation + questions from the audience; How to handle high stakes negotiations; synergies with giants: how startups can integrate into leading tech companies; and the race for funding: what are venture capitalists looking for?

The final day of the event will conclude with one major session titled: Creating a giant: How YouTube was able to disrupt the entertainment industry.

Entrepreneurship World Cup


The final round of the Entrepreneurship World Cup is a key part of Biban 2023. The finale will include competitors from more than 200 countries hoping to secure cash prizes worth over $1 million. Since its inception, more than 400,000 entrepreneurs from around the world have registered.

Biban 2023 is expected to contribute to the creation of a catalytic environment in collaboration with the public as well as the private sector stakeholders.

The SME sector is perceived as a vital economic engine, a key generator of employment, and the foundation of the global economy, Ahmad Al-Sa’adi, senior vice president of technical services at Saudi Aramco, said in an interview with Arab News a few months ago.

Saudi Vision 2030 seeks to boost the SME sector’s contribution to the gross domestic product to 35 percent within a decade.

SMEs are set to play a significant role in achieving Saudi Arabia’s objectives of lowering the unemployment rate from 11.6 percent to 7 percent and increasing women’s participation in the workforce from 22 percent to 30 percent.

Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
Wave of Complaints Against Apple Over iPhone 17 Pro’s Scratch Sensitivity
Syria Holds First Elections Since Fall of Assad
Altman Says GPT-5 Already Outpaces Him, Warns AI Could Automate 40% of Work
Trump Organization Teams with Saudi Developer on $1 Billion Trump Plaza in Jeddah
Electronic Arts to Be Taken Private in Historic $55 Billion Buyout
Colombian President Petro Vows to Mobilize Volunteers for Gaza and Joins List of Fighters
Nvidia and Abu Dhabi’s TII Launch First AI-&-Robotics Lab in the Middle East
UK, Canada, and Australia Officially Recognise Palestine in Historic Shift
New Eye Drops Show Promise in Replacing Reading Glasses for Presbyopia
Dubai Property Boom Shows Strain as Flippers Get Buyer’s Remorse
Top AI Researchers Are Heading Back to China as U.S. Struggles to Keep Pace
JWST Data Brings TRAPPIST-1e Closer to Earth-Like Habitability
UAE-US Stargate Project Poised to Make Abu Dhabi a Global AI Powerhouse
Trump and Starmer Clash Over UK Recognition of Palestinian State Amid State Visit
Saudi Arabia cracks down on music ‘lounges’ after conservative backlash
Saudi Arabia Signs ‘Strategic Mutual Defence’ Pact with Pakistan, Marking First Arab State to Gain Indirect Access to Nuclear Strike Capabilities in the Region
Sam Altman sells the 'Wedding Estate' in Hawaii for 49 million dollars
Turkish car manufacturer Togg Enters German Market with 5-Star Electric Sedan and SUV to Challenge European EV Brands
World’s Longest Direct Flight China Eastern to Launch 29-Hour Shanghai–Buenos Aires Direct Flight via Auckland in December
New OpenAI Study Finds Majority of ChatGPT Use Is Personal, Not Professional
Kuwait opens bidding for construction of three cities to ease housing crunch.
This Week in AI: Meta’s Superintelligence Push, xAI’s Ten Billion-Dollar Raise, Genesis AI’s Robotics Ambitions, Microsoft Restructuring, Amazon’s Million-Robot Milestone, and Google’s AlphaGenome Update
Indian Student Engineers Propose “Project REBIRTH” to Protect Aircraft from Crashes Using AI, Airbags and Smart Materials
Could AI Nursing Robots Help Healthcare Staffing Shortages?
Turkish authorities seize leading broadcaster amid fraud and tax investigation
Qatari prime minister says Netanyahu ‘killed any hope’ for Israeli hostages
Apple Introduces Ultra-Thin iPhone Air, Enhanced 17 Series and New Health-Focused Wearables
Big Oil Slashes Jobs and Investments Amid Prolonged Low Crude Prices
Social Media Access Curtailed in Turkey After CHP Calls for Rallies Following Police Blockade of Istanbul Headquarters
Did the Houthis disrupt the internet in the Middle East? Submarine cables cut in the Red Sea
Gold Could Reach Nearly $5,000 if Fed Independence Is Undermined, Goldman Sachs Warns
Uruguay, Colombia and Paraguay Secure Places at 2026 World Cup
Trump Administration Advances Plans to Rebrand Pentagon as Department of War Instead of the Fake Term Department of Defense
Tether Expands into Gold Sector with Profit-Driven Diversification
Trump’s New War – and the ‘Drug Tyrant’ Fearing Invasion: ‘1,200 Missiles Aimed at Us’
At the Parade in China: Laser Weapons, 'Eagle Strike,' and a Missile Capable of 'Striking Anywhere in the World'
Information Warfare in the Age of AI: How Language Models Become Targets and Tools
Israeli Airstrike in Yemen Kills Houthi Prime Minister
After the Shock of Defeat, Iranians Yearn for Change
YouTube Altered Content by Artificial Intelligence – Without Permission
Iran Faces Escalating Water Crisis as Protests Spread
More Than Half a Million Evacuated as Typhoon Kajiki Heads for Vietnam
HSBC Switzerland Ends Relationships with Over 1,000 Clients from Saudi Arabia, Lebanon, Qatar, and Egypt
Sharia Law Made Legally Binding in Austria Despite Warnings Over 'Incompatible' Values
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
×