The Global Entrepreneurship Conference witnessed the signing of 33 agreements and the launch of a number of investment initiatives with a financial value of more than 16 billion riyals (4.2 billion dollars), with the aim of supporting entrepreneurship in various fields and strengthening the Kingdom's position as an attractive environment for entrepreneurs, innovators and creators in the Middle East and North Africa region.
World Entrepreneurship Congress
World Entrepreneurship Congress
The conference was launched under the patronage of HRH Prince Mohammed bin Salman bin Abdulaziz, Crown Prince, Deputy Prime Minister and Minister of Defense, and Saudi Aramco signed 10 memorandums of cooperation and two agreements with local and international companies in the fields of digital transformation, information technology and national development, while the Social Development Bank signed agreements with several entities represented by the Royal Commission in Yanbu and the National Entrepreneurship Institute, and announced the launch of a number of products and initiatives to support and empower entrepreneurs with more than 11 billion riyals (approximately 3 billion dollars), while the Saudi Venture Investment Company SVC signed agreements with4 billion riyals (more than 656 million dollars), while SABIC launched the Nusaned Fund “2” with Al Ahli Financial Company worth 750 million riyals (200 million dollars) to support startups and develop the industrial sector.
While Cars24, a global automotive e-commerce platform, Lenskart, the largest Asian eyeglasses store chain, and Kitopi, specialized in cloud kitchens, signed memorandums of understanding with Monshaat to provide support to entrepreneurs in specialized fields.
The General Authority for Small and Medium Enterprises (Monshaat) also signed a memorandum of understanding with the Saudi Data and Artificial Intelligence Authority to launch and launch the “Ruwwad” initiative, the Royal Commission for Jubail and Yanbu, the Saudi Industrial Development Fund, King Abdullah University for Science and Technology, and SABIC to cooperate in a number of initiatives for entrepreneurs and SMEs, and an agreement was signed with Al Jaber Finance Company to provide financing products for entrepreneurs and SMEs worth 20 million riyals ($5.33 million).33 million dollars).
It is noteworthy that the Global Entrepreneurship Conference witnessed a wide international presence today through a number of investment rounds and launches, where Wethaq Financial closed an investment round in Spiders Micro Mobility for the pre-startup phase worth 5.2 million riyals (1. 4 million dollars), as well as an investment round in Spiders Micro Mobility.In addition to another investment round in Darent for the pre-startup phase worth 3.75 million riyals (1 million dollars), Sai Logistics Solutions closed an investment round worth 17 million riyals (4.5 million dollars) and PayPay received an investment round worth 6 million riyals (1.6 million dollars).
Merak Capital, which specializes in technology and innovation investment, closed a Seed round led by Merak Capital with participation from MERCED and an angel investor for 4.87 million riyals ($1.3 million), while Antella closed a round led by Hala Ventures in Egypt for 3.75 million riyals ($1 million).75 million riyals ($1 million), Daily Mills closed a 20 million riyals ($5.3 million) investment round with Hala Ventures, Sidra Ventures and Vida Holding, Ruwa Fund closed a 7.5 million riyals ($2 million) investment round in Crusty, and Access bridge Ventures and 500 Startups closed a 1.5 million riyals ($400,000) Pre-Seed investment round
An investment round with Access bridge Ventures and 500 Startups
