Today, the Social Development Bank (SDB) pledged $6.4 billion to fund entrepreneurs, small and medium-sized enterprises (SMEs), and freelancers across the Kingdom over the next three years.

The SDB pledge was announced alongside innovative partnerships and initiatives established to transform the country into a world-class SME hub and global investment destination.

Building on its work to advance entrepreneurship in the Kingdom, the Small and Medium Enterprises General Authority of the Kingdom of Saudi Arabia (Monsha’at) signed an MoU with InspireU – STC to provide the Kingdom’s burgeoning community of SMEs and investors access to Monsha’at’s business accelerators, ensuring they benefit from vital resources and provisions.

Biban 2023 also hosted the final round of the Entrepreneurship World Cup (EWC), which was one of the day’s major highlights. First established in 2019 by the Global Entrepreneurship Network (GEN) and Saudi Arabia’s Misk Foundation, the tournament invites businessmen and -women from around the world to take part in the ultimate startup pitch competition.

White Helmet, was announced on the fourth day of the Biban forum as the 2023 EWC winner, taking home the grand prize of $300,000 US.