Over 25 Agreements Worth More Than $2.93 Billion Signed on the Opening Day of Biban 2023
The Small and Medium Enterprises General Authority of the Kingdom of Saudi Arabia, Monsha'at, has signed a Memorandum of Understanding (MoU) with Huawei Tech Investment Saudi Arabia Limited. Launched on the opening day of Biban 2023 — Saudi Arabia’s flagship startup and SME forum — the new partnership will see the two entities join forces to enhance the digital transformation of the Kingdom’s small and medium-sized enterprises (SMEs).
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230310005184/en/
Biban 23 opened its doors today to the world's entrepreneurs, SMEs and startups (Photo: AETOSWire)
As part of the agreement, Monsha’at and Huawei Tech Investment Saudi Arabia will work together to equip Saudi SMEs with the tools to grow and succeed in the e-commerce space. The agreement will promote joint-cooperation and pioneer leading-edge solutions designed to empower SMEs reliant on communication technology.
The MoU was one of more than 25 agreements launched alongside a range of investment initiatives, on the first day of Biban 2023. The event — taking place from March 9 to March 13, 2023, at the Riyadh Front Exhibition & Conference Center — is expected to attract over 105,000 participants, including entrepreneurs, SME owners, investors, policymakers, and other stakeholders from the Kingdom and beyond.
As part of the agreements signed, separate to the MoU with Huawei, eight banks and financing entities pledged more than $2.93 billion to support the Kingdom’s SME ecosystem.
In line with Vision 2030, the agreements will contribute to the diversification of the national economy, transforming the country into a world-class hub of commerce.
Sami Ibrahim Alhussaini, Governor of Monsha’at, said: “We are fully committed to bolstering the national economy and fulfilling the Kingdom’s potential. As part of this mission, we aim to create an affirming entrepreneurial environment conducive to investment and growth. We have made significant strides on this journey over the years, as seen with the Kingdom’s recent leap from 41st place — in 2018 — to second place, in 2022, on the Global Entrepreneurship Monitor’s ‘State of Entrepreneurship index’.”
He added: “Biban 2023 represents a fantastic opportunity for us to build on this progress and take more steps towards realizing the goals of Vision 2030. A unique platform fully geared towards the meaningful exchange of insights, networking and collaboration, Biban 23 will help to inspire innovation and effect lasting positive change within the Saudi and global entrepreneurship sector.”
*Source: AETOSWire
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230310005184/en/
Contact information
Jose Mendez
Account Director – Weber Shandwick
mendezj@webershandwick.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Quectel Launches RG660QA and RG660QB 5G Modules With Advanced Performance Features7.1.2026 19:00:00 EET | Press release
Quectel Wireless Solutions, an end-to-end global IoT solutions provider, today announces the launch of the RG600QA and RG660QB 5G module, based on the Qualcomm® X85 and X82 5G Modem-RF Systems. The RG660QA is based on X85 while the RG660QB is based onX82. Engineering samples of two first SKUs in the RG660Qx series have been already made available to customers and pre-production samples will be available to the market in Q2 2026. Designed for versatility, this module series supports a broad array of next generation 5G use cases, from home and business wireless broadband to mobile video, camera applications, and high-performance mobile hotspots. In indoor 5G CPE, it unlocks premium performance by enabling Wi-Fi 7 across the 2.4 GHz, 5 GHz, and 6 GHz bands, with integrated Bluetooth to support a full ecosystem of connected devices. With Ethernet speeds reaching up to 10 Gbps, the RG660Qx delivers the high-capacity backbone needed to power ultra-fast, reliable home and enterprise networks.
Sodali & Co Announces Executive Leadership Appointments7.1.2026 18:00:00 EET | Press release
Sodali & Co (the ‘firm’ or ‘Sodali’), the leading global capital markets-centric stakeholder advisory firm, is pleased to announce four appointments to its Executive Leadership Team (ELT) under Chief Executive Officer Andrew Benett. These newly created senior roles will strengthen Sodali’s ability to respond to clients’ evolving needs with an integrated suite of shareholder, sustainability, and strategic communications advisory services delivered on a global scale. The appointments are as follows: Brett Clegg has been promoted to Chief Commercial Officer. Brett was previously Chairman of Sodali’s APAC region, based in the firm’s Sydney office. He specializes in advising clients on strategic communications, issues management, and capital markets transactions. Prior to Sodali, Brett spent over two decades in senior executive and editorial roles at some of Australia’s leading news brands, including The Australian Financial Review, The Australian, and The Daily Telegraph. Aneliya Crawford
Andersen Global Adds González-Paullada Domínguez in Monterrey, Mexico7.1.2026 16:30:00 EET | Press release
Andersen Global broadens its Latin American platform through a Collaboration Agreement with Monterrey-based law firm González-Paullada Domínguez (GPD), further strengthening the organization’s coverage in Mexico. Founded in 2021, GPD offers comprehensive services across transactional and litigation matters. The firm advises clients across sectors—including manufacturing, real estate, insurance, information technology, mining, and banking—on corporate law, mergers and acquisitions, real estate transactions, foreign investment, commercial contracts, regulatory compliance, and ongoing legal audits. GPD also represents clients in complex civil and commercial litigation, arbitration, and insolvency proceedings. “Monterrey is a major economic hub where local credibility and deep relationships are essential, particularly for foreign investors seeking to enter the market,” said Alfonso González-Paullada Guerrero, founder and managing partner of GPD. “By collaborating with Andersen Global, we s
1NCE Continues Growth and Expands Its Software, AI and Services Offering7.1.2026 15:15:00 EET | Press release
1NCE, a company offering a plug-and-play platform for creating and managing the world’s best IoT products, reports another strong growth year, adding another 10 million endpoints. The company now manages 40+ million intelligent products for 30,000+ customers across 17 industries. 1NCE’s software and connectivity platform has become a new industry standard, delivering hassle-free IoT in 170+ countries and regions. The company has a unique vantage point in the IoT ecosystem, with four billion data records per day collected through 250+ streams on the world’s largest IoT network in the cloud. The company launched a new intelligent data program called 1NCE Insights. The program is part of the company’s goal of fusing AI + IoT intelligence to drive game-changing results in supply chains, smart cities, utilities and beyond. Customer-collected data is theirs and theirs alone. But with Insights, 1NCE opens access to its anonymized, networkwide data. Customers can benchmark their IoT projects a
Prudentia Sciences Announces Series A Led by McKesson Ventures, Accelerating Due Diligence for Life Sciences Dealmaking7.1.2026 15:00:00 EET | Press release
Prudentia Sciences, a pioneer in AI-native due diligence for life sciences dealmaking, today announced that it has secured $20 million in Series A financing. The round was led by McKesson Ventures with participation from SignalFire. Existing investors include Iaso Ventures, Virtue and GV. This brings the company’s total funding to $27 million, following a $7 million seed round in 2024. Prudentia Sciences provides an AI-native platform that enables pharma companies, biotechs, and financial institutions to evaluate breakthrough medicines with unprecedented speed and rigor. By synthesizing complex clinical signals into actionable insights, Prudentia accelerates deal throughput and provides strategic leverage for acquisition, licensing, or investment decisions made by business development, investment, and diligence teams. The company’s human-in-the-loop approach orchestrates seamless collaboration between buyers, sellers, and intermediaries. This ensures a secure, compliant infrastructure
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom