In a well-orchestrated showcasing of Saudi Arabia’s promising SME landscape, Monsha’at made a significant appearance at the Web Summit 2023. Positioned as a key opportunity to showcase innovative Saudi start-ups, the event served as a platform to highlight the dynamic arena of the Saudi Arabian SME ecosystem.
Monsha’at Showcases Saudi Start-Ups at Web Summit 2023
From 13 to 16 November 2023, leading Saudi SME support agency Monsha’at put the country’s most innovative SMEs on display at the global tech gathering, the Web Summit in Lisbon, Portugal. Through an evocative mix of keynote addresses and interactive demonstrations, Monsha’at painted a vibrant picture of the prosperity and potential of Saudi Arabia’s start-up sphere.
Rapid Growth of Saudi Arabia’s Start-Up Ecosystem
Saudi Arabia’s SME environment is undergoing a distinctive wave of rapid growth. Despite the non-oil sector expansion, the Kingdom managed to secure one of the highest economic growth rates globally in 2023. The country accounted for 42% of MENA funding at a staggering value of $446 million, confirming its leadership in regional VC funding and capital raised.
Monsha’at’s Role in Advancing Saudi SMEs
Founded in 2016, Monsha’at, the SME Authority of Saudi Arabia, is at the helm of activating, nurturing, and enriching the SME landscape as per global best practices. Its presence at international conferences like the Web Summit, SWITCH Singapore, and ComeUp Korea, succinctly underlines its commitment to fostering international ties for Saudi start-ups.
In conclusion, by establishing a robust presence at the Web Summit 2023, Monsha’at has succeeded in presenting a compelling narrative about the progress and potential of Saudi Arabia’s SME and startup sector. As Saudi Arabia continues its rapid strides in global economic growth, the role of Monsha’at in nurturing and showcasing the nation’s innovative SMEs continues to be instrumental.
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