The conclusion of the first day of the Global Entrepreneurship Conference - hosted in the on the capital  Riyadh, under the patronage of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince, Deputy Prime Minister, and Minister of Defense - witnessed the signing of 33 agreements and the launch of several investment initiatives with a financial value exceeding 16 billion riyals ($4.2 billion), to support entrepreneurship in various fields and enhance the Kingdom’s position as an attractive environment for entrepreneurs, innovators, and creators in the Middle East and North Africa. Ten memoranda of understanding and two agreements in the fields of digital transformation, information technology, and national development were inked by Saudi Aramco with both local and international businesses.  Additionally, the Social Development Bank inked contracts with the National Entrepreneurship Institute and the Yanbu Royal Commission. It launched several products and initiatives to support and empower entrepreneurs with over11 billion riyals (nearly 3 billion dollars). The Saudi Venture Investment Company (SVC) signed agreements with several investment funds with a total value of 2.4 billion riyals (more than 656 million dollars). In addition, SABIC launched the “Nusaned Fund 2 “with AlAhly Capital Company, worth 750 million riyals ($200 million), to support emerging companies and develop the industrial sector.      Global company Cars24, an e-commerce platform for cars, in line  with Lenskart, the world's largest chain of Asian medical eyewear stores, and Kitopi, a specialist in cloud kitchens, signed memoranda of understanding with local entities to provide support for entrepreneurs in specialized fields. Additionally, “Monsha’at,” the General Authority for Small and Medium Enterprises  concluded a memorandum of understanding with the Saudi Data and Artificial Intelligence Authority to launch the “Ruwad” initiative.. Additionally, agreements were inked to collaborate in the sectors of data and artificial intelligence with the King Abdullah University of Science and Technology, the Saudi Industrial Development Fund, the Royal Commission for Jubail and Yanbu, and SABIC with the goal of cooperation in   several initiatives for entrepreneurs and small and medium enterprisesAn agreement was also signed with Al Jabr Finance Company to provide financing products to entrepreneurs and small and medium enterprises worth 20 million riyals ($5.33 million). It is noteworthy that the Global Entrepreneurship Conference today, witnessed a wide international presence through several investment rounds and launches, as Watheeq Capital closed an investment round in Spiders Micro Mobility Company for the pre-start-up stage with a value of 5.2 million riyals ($1.4 million), Darrent closed an investment round for the pre-startup phase worth 3.75 million riyals ($1 million). Saee Solutions for Logistics Services closed an investment round worth 17 million riyals ($4.5 million), and PaymentPay Company received an investment round worth 6 million riyals ($1.6 million). Merak Capital, which specializes in investing in technology and innovation, closed the Seed round led by Merak Capital, with the participation of MERCED and an angel investor, with a value of 4.87 million riyals ($1.3 million). Antilla closed an investment round led by Hala Ventures in Egypt with a value of 3.75 million Riyals ($1 million), and Daily Mills closed an investment round with the participation of Hala Venture, Sidra Venture, and Vida Holding worth 20 million riyals ($5.3 million). The Rua Fund closed an investment round in Carasti Company worth 7.5 million riyals ($2 million).

A pre seed stage investment round was closed with the participation of Access Bridge Ventures and 500 Startups with a value of 1.5 million riyals ($400 000)