The second day of the Biban 2025 forum, organized by Saudi Arabia’s Small and Medium Enterprises General Authority (Monsha’at), saw a significant surge of activity with the signing of 21 agreements and Memorandums of Understanding (MoUs) and the launch of five new initiatives. Held under the theme “A Global Destination for Opportunities,” the event underscored the Kingdom’s commitment to empowering its entrepreneurial ecosystem in alignment with Saudi Vision 2030.
The series of strategic partnerships involves both global technology leaders and key domestic players, aimed at providing Saudi SMEs with the resources, tools, and market access needed for sustainable growth.
Forging Global Pathways for Saudi Startups
A key focus of the day was on building international bridges for local entrepreneurs. Monsha’at signed several agreements with global entities to facilitate international expansion and knowledge exchange.
An agreement with PayPal will enhance e-commerce capabilities and support high-growth startups targeting international markets. Partnerships with social media giants X and TikTok will provide developmental workshops and showcase Saudi success stories to a global audience.
Further collaborations include an MoU with Estonia’s IT and Communications Agency to develop joint incubators and accelerators, an agreement with Nest Accelerator to support the international expansion of Saudi startups and empower female founders in Europe and North Africa, and a partnership with Kaspersky to integrate cybersecurity services into Monsha’at’s Mazaya platform.
Strengthening the Domestic Ecosystem
On the local front, Monsha’at solidified its support network through several key collaborations. An agreement with stc Group will provide exclusive offers and discounts on services through the Mazaya platform, alongside cooperation on business accelerators and a “Governance Maturity Index” for companies in the “Tomouh” program.
A partnership with Elm Company will provide SMEs with specialized digital solutions, including the “Rabet,” “Damen,” and “Business Summary” services.
Monsha’at also partnered with government bodies, including the Saudi Tourism Authority to empower enterprises in the tourism sector, the Ministry of Municipalities and Housing to support social investment, and the Ministry of Industry and Mineral Resources to foster innovation in the industrial and mining sectors.
New Initiatives to Drive Digital Transformation
Among the five initiatives launched, a standout was the introduction of new digital payment solutions in collaboration with financial technology company Geidea. This initiative provides beneficiaries of the Mazaya platform with exclusive, reduced-rate digital payment services, aiming to accelerate digital adoption and lower operational costs for micro, small, and medium-sized enterprises.
About Monsha’at
The Small and Medium Enterprises General Authority (Monsha’at) was established in Saudi Arabia in 2016 to regulate, support, and develop the SME sector in the Kingdom. It plays a crucial role in creating a supportive environment for SMEs by implementing and supporting programs that promote a culture of entrepreneurship, innovation, and economic diversification in line with Saudi Vision 2030.
Source: Al Arabiya
