The Small and Medium Enterprises General Authority (Monsha'at) is an independent Saudi government body founded in 2016 and the main driver of the development and support of the entrepreneurship and SME sector, one of the most important pillars of Saudi Vision 2030.
Monsha'at aims to regulate, support and grow the sector by developing policy, providing financing opportunities and creating an enabling investment environment, with the goal of raising the contribution of small and medium enterprises to GDP from 20% to 35% by 2030.
Key Milestones and Strategic Activity
- Biban forum: organized annually by the authority, Biban is one of the world's largest and most prominent entrepreneurship platforms for investors and entrepreneurs, attracting hundreds of thousands of visitors, entrepreneurs and local and international investors to create opportunities and facilitate partnerships.
- Enabling services and solutions:
- Financing and innovation: varied financing products, easier access to venture capital, and incubator and accelerator programs.
- Consulting and guidance: capacity-building programs and consulting and mentoring services for startup founders.
- Localization and growth: enabling national enterprises to expand, raise operational efficiency and increase their share of government and private sector procurement.
