Incubators and Accelerators Support the Growth of Entrepreneurial Businesses at the "Biban Riyadh" Forum
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Four incubators and accelerators participated in the "Biban Riyadh" Forum organized by the General Authority of Small and Medium Enterprises "Monsha’at." In addition to offering intense programs to hasten the growth and expansion of startups and developing firms, they also offered their services to support the establishment and growth of entrepreneurial businesses. These programs include workspaces, company development services, consulting, advice, training, and participation in various events for a period of time often spanning from 3 to 6 months. They also make it easier to obtain funding or investments in the initiatives and provide chances for entrepreneurs to pool their resources.
Mohammed Al-Mulla, the General Manager of Startup Hub at "Monsha’at," explained that in "Biban Riyadh," to assist entrepreneurs, they made sure that Riyadh was home to the greatest incubators in the business. They also included co-working facilities, which offer freelancers, startups, and entrepreneurs rentable conference rooms. These areas provide basic amenities such fully equipped private or open offices, secretarial services, communication services, and the ability to hold workshops and events.
Al-Mulla emphasized that the main goals of incubators and accelerators are to help entrepreneurs accomplish what they need to complete their projects, increase their chances of success, ensure continuity, and define their vision. They provide a set of incentives and facilitations that can be obtained from "Monsha’at" and its partners, including government and private entities.
It is important to mention that "Monsha’at" is keen to have incubators, accelerators, and co-working spaces at the "Biban Riyadh" Forum as the primary umbrella for businesses and all relevant or interested parties in the entrepreneurship ecosystem. This aims to disseminate, share, and implement best practices in the field, contributing to the development of the entrepreneurship ecosystem in the Kingdom by building a reliable reference and a valuable network.
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