Biban24 wraps up

The Biban24 forum wrapped up with a total of SAR 35.4 bn in agreements and project launches, the General Authority for Small Medium Enterprises (Monsha’at) said in a news release. The first day of the forum saw Monsha’at line up some SAR 18.3 bn in SME financing through partnerships with local and global players, while days two, three, and four saw the authority ink over 16 major agreements in a bid to support the Kingdom’s business ecosystem and homegrown SMEs.

Startups raised SAR 15 mn: The Investor Ring — a live platform organized by Numu Angels where investors in fintech, healthtec and AI review pitch decks and potentially make on-the-spot investments — saw 115 entrepreneurs pitch their business ideas to investors, out of which 65 landed preliminary investment approvals totaling over SAR 15 mn.

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ALSO- The authority also partnered with several Saudi banks — including Riyad Bank, Al Rajhi Bank, and AlBiland Bank —- securing a total SAR 15 bn in funding to support entrepreneurs and SMEs and streamline their access to capital.