Biban Forum 2025 Day Two Sees 21 Agreements Signed and Five New Initiatives Launched

The second day of the Biban Forum 2025 marked a major step toward strengthening Saudi Arabia’s entrepreneurship ecosystem, with the signing of 21 agreements and the launch of five new initiatives aimed at supporting small and medium enterprises (SMEs). The developments align with the goals of Saudi Vision 2030 to boost economic diversification, encourage innovation, and promote sustainable growth.

According to the Saudi Press Agency, the Small and Medium Enterprises General Authority, known as Monsha’at, led the efforts by signing a series of memorandums of understanding (MoUs) and cooperation agreements with local and international organizations. These partnerships are designed to expand opportunities for micro, small, and medium-sized enterprises across multiple sectors.

Among the key agreements was one with Alwaleed Philanthropies Foundation to strengthen the social entrepreneurship ecosystem, and another with the Al-Ahsa Development Authority to improve the investment environment in the region and provide greater support for local entrepreneurs.

Monsha’at also partnered with the Saudi Tourism Authority to develop tourism-related businesses through new initiatives, investment opportunities, and specialized training programs. Another MoU was signed with the National Center for Inspection and Compliance to improve regulatory standards and performance quality among enterprises.

In the technology field, Monsha’at signed an agreement with Elm Co. to deliver digital solutions tailored to SMEs. It also reached an understanding with stc Group to provide service discounts through the “Mazaya” platform and collaborate on governance maturity assessments and accelerator programs for businesses under the Tomoh initiative.

The authority further joined hands with the Ministry of Municipal and Rural Affairs and Housing to advance the social investment sector, and with the Ministry of Industry and Mineral Resources to empower nonprofit organizations in the industrial and mining sectors.

International partnerships featured prominently in the day’s proceedings. Monsha’at signed an MoU with the Estonian Information and Communication Technology Agency to develop joint incubators and international expansion programs. Agreements were also made with TikTok to support SMEs and showcase Saudi success stories, and with PayPal to enhance e-commerce services and growth programs.

Additional collaborations included MoUs with Kaspersky to integrate cybersecurity tools into the Mazaya platform, and with the Ethiopian Young Entrepreneurs Association to exchange expertise in digital innovation and SME development.

The day also saw the launch of several initiatives, including a partnership between Monsha’at and Geidea to introduce digital payment solutions. This project aims to accelerate digital transformation for SMEs by reducing payment costs and improving transaction efficiency.

Through these partnerships and launches, Monsha’at continues to build a strong entrepreneurial ecosystem, reinforcing Saudi Arabia’s growing reputation as a regional and global center for innovation, investment, and sustainable enterprise growth.