Saudi Arabia: The second day of the Biban Forum 2025 witnessed the signing of 21 agreements, as well as the launch of five new initiatives. 

These efforts reflect the commitment of various entities to support entrepreneurship and empower small and medium enterprises in line with Saudi Vision 2030’s goals to enhance economic diversification, stimulate innovation, and promote sustainable growth.

According to the Saudi Press Agency, the Small and Medium Enterprises General Authority, also known as Monsha’at, signed several memorandums of understanding and cooperation agreements aimed at supporting entrepreneurship and enabling micro, small, and medium-enterprises across different sectors. 

These included an MoU with the Alwaleed Philanthropies Foundation to support and empower the social entrepreneurship ecosystem, and another with the Al-Ahsa Development Authority to enhance the investment environment in the region and support local entrepreneurs. 

Monsha’at also signed a cooperation agreement with the Saudi Tourism Authority to empower tourism-related businesses through initiatives, investment opportunities, and training programs, in addition to an MoU with the National Center for Inspection and Compliance to enhance performance quality and regulatory compliance among enterprises.

In the technology sector, Monsha’at signed an agreement with Elm Co. to provide tailored digital solutions for micro, small, and medium enterprises.

It also signed an agreement with stc Group to offer exclusive discounts on services through the “Mazaya” platform and to collaborate on the “Governance Maturity Assessment” initiative for companies participating in the Tomoh program, as well as on business accelerator programs.

Monsha’at also inked a deal with the Ministry of Municipal and Rural Affairs and Housing to support the social investment sector, and another with the Ministry of Industry and Mineral Resources to enhance the economic empowerment of nonprofit organizations in the industrial and mining sectors, foster entrepreneurship, and develop innovative solutions that contribute to sustainable development.

On the international front, Monsha’at signed several MoUs with global entities to strengthen international cooperation and enable Saudi entrepreneurs to expand into global markets. 

These included an MoU with the Estonian Information and Communication Technology Agency to collaborate on international expansion programs and joint incubator and accelerator development; another with X to organize development workshops for entrepreneurs; and one with TikTok to support SMEs via the Mazaya platform and highlight Saudi success stories.

Monsha’at also signed an agreement with PayPal to collaborate on e-commerce services and growth acceleration programs aimed at international expansion, as well as with the Gulf Cooperation Council Board Directors Institute to develop executive programs under the Tomoh initiative. 

Additional agreements included cooperation with Carve Startup Labs to exchange expertise and implement programs for Tomoh companies, and an MoU with Nest Accelerator to support the international expansion of Saudi startups and empower Saudi women entrepreneurs in Europe and North Africa.

Furthermore, an MoU was signed with Kaspersky to integrate cybersecurity services into the Mazaya platform, and another with the Ethiopian Young Entrepreneurs Association to exchange expertise in developing digital solutions and supporting micro, small, and medium enterprises.

The day also featured several key launches, most notably the introduction of digital payment solutions in partnership between Monsha’at and Geidea. This initiative provides beneficiaries of the Mazaaya platform with exclusive, discounted digital payment solutions to accelerate digital adoption, reduce operational costs for micro, small, and medium enterprises, and lower payment service fees.

These partnerships and agreements underscore Monsha’at’s commitment to fostering a comprehensive and supportive entrepreneurial ecosystem, contributing to the realization of Saudi Vision 2030.