Saudi Arabia has significantly ramped up its commitment to fostering entrepreneurship, announcing a series of major initiatives at the second edition of the Entrepreneurship and Modern Work Styles Forum (Deve Go 2025). Organized by the Social Development Bank (SDB), the event was inaugurated by H.E. Eng. Ahmed bin Sulaiman Al-Rajhi, Minister of Human Resources and Social Development and Chairman of the SDB.
During his opening address, Minister Al-Rajhi emphasized the Kingdom’s rapidly evolving entrepreneurial landscape, driven by its ambitious Vision 2030. He highlighted that the forum reflects the growing dynamism and progress within the startup sector, enabling young talent to innovate and compete globally in promising fields like artificial intelligence, renewable energy, and venture capital.
Massive Funding Injection Boosts Job Growth
A cornerstone of the announcement was the SDB’s commitment to inject over SAR 8 billion (approximately USD 2.13 billion) annually to support startups and entrepreneurs across the Kingdom. This substantial financial backing has already yielded remarkable results.
According to the Minister, the number of employees in SDB-funded enterprises has surged from just 12,000 in 2021 to over 140,000 in 2025, demonstrating the direct impact of this capital on job creation and economic expansion.
Launching the Empretec Saudi Arabia Fellowship
In a landmark collaboration, the forum witnessed the official launch of the “Empretec Saudi Arabia” fellowship, a strategic partnership with the United Nations Conference on Trade and Development (UNCTAD). The launch was attended by UNCTAD Secretary-General Rebeca Grynspan.
This international fellowship is designed to be a powerful platform for developing the personal entrepreneurial competencies of a select group of high-potential founders. Participants will undergo intensive training programs and gain access to international experts and advanced tools, empowering them to transform promising ideas into globally impactful ventures.
A Comprehensive Support System
Beyond direct funding, the SDB is cultivating a holistic support ecosystem through a range of non-financial programs. This includes the “Jadah 30” business communities, which have successfully incubated over 4,300 enterprises across 13 cities.
Additionally, the “Dulani Business Center” has played a crucial role, providing over 67,000 consultations that have benefited more than 150,000 male and female entrepreneurs, offering them vital guidance and mentorship.
About Social Development Bank
The Social Development Bank (SDB) is a key government entity in Saudi Arabia dedicated to providing a comprehensive suite of financial and non-financial products and services to citizens and enterprises. Its mission is to empower individuals and support the growth of small and emerging businesses, playing a pivotal role in achieving the economic and social development goals outlined in Saudi Vision 2030.
Source: Sayidaty
