The Small and Medium Enterprises General Authority “Monsha’at” reviewed the role it plays in the field of venture capital during its participation in the introductory and preparatory meeting for the Global Venture Summit, held in Riyadh yesterday in the presence of the Governor of Monsha’at, Engineer Saleh bin Ibrahim Al-Rasheed. It also highlighted its encouragement of the entry of global venture capital funds, business incubators, and accelerators into the Saudi market, and affirmed the support directed by the Kingdom’s government to SMEs in developing the investment, entrepreneurship, and innovation industry.
The Vice Governor of Monsha’at for Funding, Mohammed Almalki, took part in a panel session titled “The Role of the Public Sector and Legislation in Venture Capital”, which addressed the incentives for investing in content or knowledge technology, the extent to which regulations protect investment, the challenges facing investors in content or knowledge technology, and how to persuade capital owners to enter this field, in addition to the environment that attracts investment in content technology and the risks an investor may face.
Monsha’at’s participation in the meeting comes with the aim of sponsoring the Global Venture Summit, which will be held in Riyadh in October 2018, especially as Monsha’at is working to establish more business incubators, training institutions, and specialized venture capital funds to help entrepreneurs develop their skills and innovations, in addition to helping small national enterprises export and market their products and services by supporting e-marketing and coordinating with the relevant international entities.