Biban 24 Forum Draws 70+ Incubators to Boost Saudi Startups

The Biban 24 Forum, organized by the Small and Medium Enterprises General Authority (Monsha’at) under the theme “Global Destination for Opportunities,” attracted more than 70 local and international incubators and accelerators over five days in Riyadh, according to the Saudi Press Agency (SPA). The participating organizations showcased innovative projects and success stories while working to strengthen collaboration between entrepreneurs and investors, creating a comprehensive environment that fosters innovation and economic growth across the Kingdom of Saudi Arabia. The forum, one of the region’s largest entrepreneurship gatherings, underscored Saudi Arabia’s determination to position itself as a leading global hub for startups and small and medium enterprises.

Could any single event do more to connect the Kingdom’s entrepreneurial ambitions with the world’s investment community? Biban 24 answered that question emphatically, drawing participation from incubators, accelerators, venture funds, and support organizations that collectively represent the backbone of Saudi Arabia’s fast-expanding startup ecosystem. The forum’s five-day run provided a platform for founders to meet directly with financiers, for support organizations to demonstrate their impact, and for policymakers to hear from the people building the businesses of tomorrow. The scale of participation reflects how far the Kingdom has come in building a supportive environment for entrepreneurship, and how much further it intends to go.

Context and Background

Why has Biban become such a pivotal fixture on the Kingdom’s economic calendar? Organized by Monsha’at, the authority responsible for nurturing small and medium enterprises, the Biban forum has grown steadily since its launch into a flagship national event that aligns directly with the objectives of Saudi Vision 2030. The Vision’s economic diversification goals depend heavily on a vibrant private sector, and SMEs are expected to play an increasingly important role in job creation, innovation, and non-oil economic output. Biban 24 built on that momentum by expanding international participation and deepening the connections between early-stage ventures and the investors who can help them scale.

The theme “Global Destination for Opportunities” captured the Kingdom’s dual ambition: to attract entrepreneurs and capital from around the world while empowering Saudi founders to compete internationally. Over the five days, more than 70 incubators and accelerators presented their programs, success stories, and portfolios. These organizations serve a critical function in the startup lifecycle, providing mentorship, workspace, early funding, and market access to ventures that might otherwise struggle to survive their earliest stages. Their strong presence at Biban 24 signaled both the maturity of Saudi Arabia’s support infrastructure and the appetite of international players to engage with the Kingdom’s market.

The forum also reflected broader shifts in the Saudi economy. As the Kingdom reduces its historical dependence on hydrocarbons, entrepreneurship has become a national priority, backed by government programs, regulatory reforms, and investment funds. Incubators and accelerators are among the most visible instruments of that strategy, translating policy ambition into practical support for individual founders. Their collective showing at Biban 24 offered a snapshot of an ecosystem that is no longer emerging but actively producing companies, attracting capital, and generating jobs.

Key Details

What did the participants themselves say about the value of the gathering? Asrar Al-Omiri, CEO of the E3qlha Incubator, described Biban 24 as a significant opportunity for incubators and accelerators to highlight the projects they support. She explained that E3qlha participated through the Virtual Incubator 360, an initiative that showcases success stories and assists projects in securing investment rounds. Al-Omiri added that the incubator aims to attract entrepreneurs and create an ideal environment for transforming their ideas into scalable ventures. Her remarks illustrated how Saudi support organizations are increasingly adopting digital tools to extend their reach beyond physical locations.

Ghassan Halawa, Founder and CEO of the Parachute16 Incubator, affirmed that the Biban 24 Forum is the premier event focused on entrepreneurship and fast-growing startups. He noted that the forum attracts broad local and international participation, offering incubators a unique opportunity to showcase their projects and engage directly with investors and entrepreneurship supporters. That direct engagement is precisely what early-stage companies need, since access to networks and capital often determines whether a promising idea becomes a sustainable business. Halawa’s assessment underlined the forum’s role as a matchmaking engine rather than simply an exhibition.

Lama Ghalayini, Business Development Specialist at the Fintactics Ventures Fund, emphasized that Biban 24 provided valuable opportunities for fintech startups to explore investment options. She stated that the forum serves as an important platform for introducing entrepreneurs to the fund’s significance and its role in empowering startups to overcome financing challenges through innovative solutions that enhance their market growth. Her comments highlighted how specialized funds use Biban to identify deal flow and to explain their offerings to founders who may be navigating complex financing landscapes for the first time.

International and Regional Impact

How does a national entrepreneurship forum resonate beyond Saudi borders? The presence of international incubators and accelerators at Biban 24 demonstrated that the Kingdom’s startup scene is increasingly integrated with global networks of capital, talent, and expertise. International participants bring proven methodologies, access to foreign markets, and connections to investors who might otherwise overlook the region. In return, they gain exposure to a young, tech-savvy population, supportive government policies, and a market that is undergoing rapid digital transformation. This two-way exchange strengthens Saudi Arabia’s position as a bridge between regional opportunity and global capital.

Within the Middle East and North Africa, Saudi Arabia’s entrepreneurial momentum carries particular weight. The Kingdom’s size, purchasing power, and ambitious diversification program make it a natural anchor for regional startups seeking scale. By convening incubators and accelerators from across the region and beyond, Biban 24 reinforced Riyadh’s role as a convening power in the innovation economy. For neighboring markets, the forum offered a preview of the support models and investment instruments that are driving Saudi Arabia’s progress, encouraging cross-border collaboration that can lift the entire region’s startup ecosystem.

Economic and Strategic Significance

Why does the success of incubators and accelerators matter to the national economy? Small and medium enterprises are widely recognized as engines of job creation and innovation, and Saudi Arabia has made their growth a central pillar of its economic strategy. Incubators and accelerators improve the survival rate of young companies by providing structured support during the vulnerable early years. When these organizations succeed, the benefits ripple outward: more jobs, more diversified revenue streams, and a more resilient economy less exposed to oil price volatility. Biban 24’s ability to convene more than 70 such organizations is therefore a meaningful indicator of ecosystem health.

The forum also served a strategic function by connecting entrepreneurs with investors at a time when global capital is searching for growth markets. Saudi Arabia offers a compelling proposition: a large domestic market, a government committed to reform, and a growing pipeline of technology-enabled businesses. By facilitating direct conversations between founders and financiers, Biban 24 helped reduce the information gaps that often prevent deals from happening. That matchmaking role is especially valuable for fintech and other regulated sectors, where understanding the local framework is essential for investors evaluating opportunities.

Vision 2030 Alignment

How does Biban 24 fit into the larger story of Saudi Vision 2030? The Vision, launched in 2016 under the leadership of Crown Prince Mohammed bin Salman, sets out a comprehensive roadmap for diversifying the economy, empowering the private sector, and creating opportunities for citizens. Entrepreneurship sits at the heart of that agenda, and Monsha’at’s work through Biban directly supports the goal of increasing the contribution of SMEs to GDP. The forum’s emphasis on collaboration between entrepreneurs and investors mirrors the Vision’s broader call for partnership between government, business, and society in building a prosperous future.

The 70-plus incubators and accelerators that participated in Biban 24 represent the practical machinery of that vision. They are the organizations that turn policy into programs, ideas into companies, and ambition into employment. Their continued growth and internationalization will be essential as the Kingdom pursues its targets for private sector expansion and non-oil growth. By providing a global stage for these organizations and the founders they support, Biban 24 advanced Saudi Arabia’s long-term goal of becoming a leading destination for talent, innovation, and investment, reinforcing the Kingdom’s emergence as a global hub for entrepreneurship.

20 Questions

Q1. What was the theme of the Biban 24 Forum?

A1. The Biban 24 Forum was held under the theme “Global Destination for Opportunities,” reflecting Saudi Arabia’s ambition to attract entrepreneurs and investors from around the world while supporting local founders.

Q2. How many incubators and accelerators participated in Biban 24?

A2. More than 70 local and international incubators and accelerators participated in the forum over five days, showcasing innovative projects and success stories while strengthening collaboration between entrepreneurs and investors.

Q3. Which Saudi authority organizes the Biban forum?

A3. The Biban forum is organized by the Small and Medium Enterprises General Authority (Monsha’at), the government body responsible for supporting and developing SMEs in line with Saudi Vision 2030.

Q4. Where was the Biban 24 Forum held?

A4. The Biban 24 Forum was held in Riyadh, Saudi Arabia, according to the Saudi Press Agency, which reported on the event and the participation of more than 70 incubators and accelerators.

Q5. What did Asrar Al-Omiri say about Biban 24?

A5. Asrar Al-Omiri, CEO of the E3qlha Incubator, said Biban 24 represents a significant opportunity for incubators and accelerators to highlight the projects they support and to attract entrepreneurs.

Q6. What is the Virtual Incubator 360?

A6. The Virtual Incubator 360 is an initiative through which the E3qlha Incubator participated in Biban 24, showcasing success stories and assisting projects in securing investment rounds.

Q7. What did Ghassan Halawa say about the forum?

A7. Ghassan Halawa, Founder and CEO of the Parachute16 Incubator, affirmed that Biban 24 is the premier event focused on entrepreneurship and fast-growing startups, attracting broad local and international participation.

Q8. What did Lama Ghalayini highlight about Biban 24?

A8. Lama Ghalayini, Business Development Specialist at the Fintactics Ventures Fund, emphasized that the forum provided valuable opportunities for fintech startups to explore investment options and overcome financing challenges.

Q9. How long did the Biban 24 Forum last?

A9. The Biban 24 Forum ran for five days, during which more than 70 incubators and accelerators showcased their projects and engaged with entrepreneurs, investors, and supporters of the startup ecosystem.

Q10. What is the main goal of the Biban forum?

A10. The main goal is to strengthen collaboration between entrepreneurs and investors while providing a comprehensive environment that fosters innovation and economic growth in Saudi Arabia.

Q11. How does Biban 24 support Saudi Vision 2030?

A11. Biban 24 supports Vision 2030 by promoting entrepreneurship, empowering SMEs, and helping diversify the economy away from oil dependence, all of which are central objectives of the national transformation plan.

Q12. What role do incubators play in Saudi Arabia’s startup ecosystem?

A12. Incubators provide mentorship, workspace, early funding, and market access to young companies, helping them survive their earliest stages and grow into scalable, sustainable businesses that create jobs.

Q13. What role do accelerators play for Saudi startups?

A13. Accelerators offer structured, time-limited programs that help startups refine their business models, prepare for investment, and connect with networks of mentors and financiers to achieve rapid growth.

Q14. Why is investor collaboration important for entrepreneurs?

A14. Investor collaboration gives entrepreneurs access to capital, strategic guidance, and networks that are often essential for scaling operations, entering new markets, and achieving long-term commercial success.

Q15. What sectors benefit from forums like Biban 24?

A15. A wide range of sectors benefit, including fintech, technology, retail, tourism, and services, with fintech startups particularly highlighted for their potential to explore investment options and enhance market growth.

Q16. How does Biban 24 help fintech startups specifically?

A16. Biban 24 gives fintech startups a platform to meet specialized funds such as Fintactics Ventures, explore investment options, and learn about financing solutions that can help them overcome growth challenges.

Q17. What does the participation of international incubators signify?

A17. The participation of international incubators and accelerators signifies growing global confidence in Saudi Arabia’s startup ecosystem and its integration with worldwide networks of capital, talent, and expertise.

Q18. How does Biban 24 contribute to job creation in Saudi Arabia?

A18. By helping startups grow and secure investment, Biban 24 contributes to job creation, since expanding small and medium enterprises are major employers and a key source of new opportunities for Saudi citizens.

Q19. What makes Saudi Arabia an attractive market for startups?

A19. Saudi Arabia offers a large domestic market, a young and tech-savvy population, strong government support for entrepreneurship, and a clear reform agenda under Vision 2030 that encourages innovation and investment.

Q20. What is the long-term significance of Biban 24 for the Kingdom?

A20. Biban 24 reinforces Saudi Arabia’s position as a global destination for entrepreneurship, advancing Vision 2030 goals of economic diversification, private sector growth, and the creation of a knowledge-based economy.

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