Saudi PIF-backed Diriyah project awards $1.53bn arena contract to China Harbor

RIYADH: Saudi Arabia’s flagship entrepreneurship event, Biban Forum 2025, opened in Riyadh on Wednesday, drawing tens of thousands of investors, innovators, and business leaders from around the world as the Kingdom strengthens its position as a global hub for startups and small businesses.

Organized by the Small and Medium Enterprises General Authority under the theme “Global Destination for Opportunities,” the four-day event at the Riyadh Front Exhibition and Conference Center has attracted more than 140,000 participants from over 150 countries, including startup founders, venture capitalists, policymakers and CEOs.

With billions of riyals in potential deals and hundreds of international companies participating, Biban Forum has become a cornerstone of Saudi Arabia’s drive to diversify its economy and foster innovation under Vision 2030.

“Biban Forum 2025 is more than an event — it is a bridge between ideas and investment, where local and global entrepreneurs find the support they need to scale,” said Monsha’at Gov. Sami Ibrahim Al-Hussaini.

The 2025 EWC finals bring together 100 global startups from a pool of over 10,300 entrepreneurs across 169 countries, competing live on stage in Riyadh for $1.5 million in cash prizes and access to international investors and mentors. Since its launch, the competition has attracted more than 420,000 entrepreneurs from 191 countries.

Coinciding with the event, Monsha’at released a report highlighting the rapid progress of the Kingdom’s startup ecosystem. It showed 1.7 million active commercial registrations by the end of the third quarter of 2025, with SMEs employing more than 8.4 million people.

The report also pointed to gains in key sectors. Women’s workforce participation rose to 43.5 percent, inbound tourism spending climbed 9.7 percent in the first quarter, and the real estate market continued to expand, with 47,286 off-plan residential units licensed in the third quarter.

The e-sports industry grew 72 percent year on year, while financing to small and medium enterprises increased 20 percent, with commercial banks accounting for 96 percent of total lending.

“As Saudi Arabia accelerates its transformation into a premier hub for entrepreneurship and opportunity, Biban Forum serves as a powerful platform to showcase talent, unlock partnerships, and contribute to the goals of Saudi Vision 2030,” Al-Hussaini said.