The Small and Medium Enterprises General Authority “Monsha’at” and the General Authority for Defense Development signed a memorandum of understanding to strengthen cooperation and support and empower SMEs operating in the fields of defense research, innovation, and development. The signing took place on the sidelines of the third edition of the Jisr Forum in Riyadh.

His Excellency Governor Dr. Faleh bin Abdullah Al Suleiman signed the memorandum on behalf of GADD, alongside Sami bin Ibrahim Al Hussaini, Governor of Monsha’at.

The MoU aims to support the development of strategies, policies, regulations, and systems to empower SMEs in defense research and development, and to explore opportunities for collaboration to establish and support specialized incubators and accelerators that foster the growth of innovative enterprises and strengthen their role in the sector.

Areas of cooperation also include designing initiatives that provide funding and investment solutions for SMEs operating in defense technologies, alongside studying the possibility of organizing events, hackathons, and specialized training programs to support entrepreneurs and business owners, enhance knowledge exchange, and facilitate access to experts and specialists in related fields.

The memorandum reflects the efforts of both entities to strengthen integration between the entrepreneurship ecosystem and the defense research and development sector, while supporting innovation and advanced technologies to help build a supportive environment for SME growth and competitiveness, in line with the objectives of Saudi Vision 2030.