Monsha'at Concludes the International Expansion Program by Strengthening International Partnerships in Entrepreneurship
The Small and Medium Enterprises General Authority "Monsha'at" has concluded the "Promising Innovative Enterprises" project for international expansion, which was organized over 18 months. Through this project, Monsha'at supported 20 local companies to visit four different countries, including the UAE, the United States, Singapore, and the UK. This resulted in the signing of agreements between local and international companies to enhance joint cooperation in the field of entrepreneurship. The program included attending exhibitions, workshops, and specialized meetings with entrepreneurs and startups, as well as visiting the world's largest tech conferences and international business incubators. This was aimed at facilitating the access of local enterprises to global markets for expansion and increasing investment opportunities. This was achieved by empowering and supporting entrepreneurs by connecting them to the global ecosystem of innovation and entrepreneurship. Additionally, it aimed to motivate foreign investors to invest in national enterprises and raise awareness among local enterprises about promising opportunities for international expansion. This led to the signing of four agreements in various fields between local enterprises and their international counterparts. Participating companies also signed agreements and attracted the interest of more than 50 potential investors for startups, which will positively reflect on the expansion of the local market and its global reach. The participating companies underwent intensive qualifying sessions, during which they learned about the basics of establishing legal and commercial entities, understanding the investment ecosystem in the Middle East region, and best practices in negotiations, financial planning for expansion, and cost calculation. One of the overall impacts experienced by most of the participants was the exploration of partnership opportunities and investment prospects with various countries, after being given the opportunity to meet officials and facilitate their access to investment opportunity providers. It is worth noting that "Monsha'at" seeks, through its participation in international exhibitions, to support small and medium enterprises to reach global markets, in addition to attracting investors and entrepreneurs by introducing the programs and services provided to SMEs in the Kingdom.
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