The the General Authority for Small and Medium Enterprises “Monsha’at” a cooperation agreement with the Mohammed bin Salman “Misk,” in the presence of Misk’s Chief Program Officer, Engineer Omar Al-Najjar, and “Monsha’at” Deputy Governor for Entrepreneurship Saud Al-Sabhan, during the Misk Global Forum held in Riyadh.

The agreement aims to grant “Monsha’at” a license to host the World Entrepreneurship Cup, which is the first and largest competition of its kind globally, featuring entrepreneurs from more than 200 countries and offering a cash prize of $1 million.

Manshaat noted that the competition will take place at the Biban Forum, which it will organize during the first quarter of 2023. Misk had previously launched the World Entrepreneurship Cup internationally for the first time in Riyadh, in collaboration with the Global Entrepreneurship Network GEN. This competition provides support and encouragement for entrepreneurs to move from the ideation and planning stage to the growth and prosperity stage.

The competition places a strong emphasis on providing knowledge-based support through consulting and mentoring, as well as practical support via training and access to all necessary resources such as information and websites, and on strengthening relationships between emerging entrepreneurs, entrepreneurship experts, and investors.

It is worth noting that ”Monsha’at” continuously works to design and develop programs, initiatives, and services that stimulate the small and medium-sized enterprise (SME) sector and entrepreneurs, and to spread a culture and mindset of self-employment, as well as the spirit of entrepreneurship, initiative, and innovation, and diversifying sources of financial support for enterprises, in order to enhance their growth and business sustainability.