The "Biban 23" forum, organized by the General Authority for Small and Medium Enterprises “Monsha’at” under the theme "Opportunities Create Entrepreneurship," concluded its fourth day with a series of sessions and workshops. These activities covered various topics in the entrepreneurship, investment, and SMEs sectors.
The "Starting Gate" section kicked off its activities with specialized workshops on developing and structuring ideas in a rigorous manner. In addition to that, introducing the methods for preparing business models. Visitors moved through several stages, starting from "from idea to market," then engaging in a knowledge and entrepreneurial experience in "feasibility studies," and finally advancing to the last stage through "steps to establish a business."
The "Growth Gate" provided a range of workshops on topics such as retail market management, characteristics of business activities, and clarifying concepts and elements of supply chain management. As well focalizing on effective strategies for building competitive advantages and enhancing market share, along with other sessions like "How to Start Your Business in Saudi Arabia," "Financial Management for Small Enterprises," "Fundamentals of Commercial Contracts," and "Human Resources Management Basics."
Meanwhile, the "Franchise Gate" shed light on investment methods in this sector and the importance of evaluating opportunities. It discussed criteria for evaluating brand identity and selecting franchise partners, in addition to explaining the "Experience of Obtaining a Franchise" and the process of "Building a Sustainable Franchise System." On the other hand, the "Innovation Gate" presented an introductory session on business incubators and accelerators, their goals, and targets for empowering SMEs and entrepreneurs.
A workshop called "How to Pitch to Investors" in the "Investors Zone" emphasized the skills that entrepreneurs need to know while negotiating with potential investors. In a different workshop titled "The Importance of Attracting Investors for the Growth of Your Business," participants talked about the many stages of investment and how they affect an organization's ability to grow.
In another context, the "E-commerce Gate" featured multiple workshops, such as "Innovation in Branding," "E-commerce Training," and "Fundamental Concepts in Export and International Trade." The "Creativity Hall" hosted important workshops that presented details on "Electronic Invoicing" and the importance of "Smart Outlets," as well as the results of "The Economic Impact of the Financing Guarantee Program."
In the "Passion Hall," participants discussed a range of vital topics, including "Real Estate Innovation," "The Role of Localization in Achieving Leadership in the Energy Sector," and "Key Media Presentation Skills for Entrepreneurs." The "Dream Hall" took its visitors to explore "Empowering the Industry with Stimulating Products," "Logistics Services in Industrial Cities," "The Legislative Experimental Environment for the Saudi Central Bank," and "Entrepreneurship Opportunities in the Field of Environmental Sustainability."
Dialogue sessions covering a variety of subjects pertaining to growing the food and beverage industry and coordinating initiatives to promote innovation were held on the fourth day of “Biban 23.” Meetings regarding environmental regulations, the value of entrepreneurship for economic growth, and the expansion of promising industries in the Kingdom were among the topics of discussion. Additionally, the Kingdom is combining its efforts to invest in commercial franchises and finance the growth of SMEs, highlighting the importance of extending brand reach and creating an ecosystem for SMEs via digital platforms. Several officials and experts participated in the forum's activities, delivering speeches that addressed expanding the asset base of institutions to achieve new revenues and profits, navigating high-risk negotiations, the role of development funds in entrepreneurship and opening new sectors, and the impact of the current global trends on the fashion industry.
The Minister of Commerce and Chairman of the General Authority for Small and Medium Enterprises (Monsha’at), Dr. Majid bin Abdullah Al-Qassabi, awarded the winners of the final qualifiers of the Entrepreneurship World Cup, which concluded with the Saudi platform "WhiteHelmet" winning the World Cup.
The forum also witnessed the signing of several agreements and launches, with the total value of agreements and launches reaching 24 billion Saudi riyals ($6.4 billion). These initiatives aimed to support entrepreneurship in various fields and enhancing and fostering the growth and sustainability of SMEs.
The launch platform witnessed the Saudi Social Development Bank announcing the allocation of 24 billion Saudi riyals to finance entrepreneurs, SMEs, and self-employed individuals for up to three years. Additionally, the General Authority for Small and Medium Enterprises “Monsha’at,” signed a cooperation agreement with the Ministry of Industry and Mineral Resources to establish industrial business accelerators and incubators in the industrial and mining sectors. An agreement was also signed with the Industrial Development Fund to provide training programs to motivate and raise awareness among entrepreneurs for establishing industrial projects.
Furthermore, an agreement was reached with the General Directorate of Prisons to train and empower over 500 inmates across the Kingdom in the field of entrepreneurship. The forum also witnessed the establishment of several companies through a partnership between Al-Hilal Investment Company and the Innovation and Entrepreneurship Center.