On the first day of DeveGo 2025, the Social Development Bank signed 11 agreements and led partnerships to empower entrepreneurs and accelerate the growth of startups

On the first day of the "DeveGo 2025" Entrepreneurship and Modern Business Models Forum, which commenced yesterday (Sunday), the Social Development Bank signed 11 cooperation agreements covering vital sectors including finance, education, energy, health, heritage, the non-profit sector, and freelance work, in addition to ministries and official bodies. This reflects the bank's commitment to building an integrated system for financial and non-financial empowerment that responds to the needs of entrepreneurs and emerging and micro-enterprises, and contributes to enhancing their ability to grow and expand in promising sectors.

The CEO of the Social Development Bank, Engineer Sultan bin Abdulaziz Al-Humaidi, emphasized that the Entrepreneurship and Modern Business Models Forum represents a national platform that brings together local and international experts to discuss developments in the entrepreneurship sector, extending the bank's mission to empower young entrepreneurs and emerging and micro-enterprises.

In his opening remarks at the forum, he said: “We are living through a golden age for entrepreneurship in the Kingdom. We have moved from limited support to building the largest entrepreneurial movement the country has ever seen, with the number of establishments rising from 430,000 in 2016 to approximately 1.7 million this year. Since the bank’s inception, total financing has reached 166 billion riyals, of which more than 46 billion riyals have been allocated to finance over 600,000 entrepreneurs, 59% of whom are Saudi women. These figures reflect the profound impact the bank is having in empowering human capital, supporting innovation, and building a diversified, knowledge-based economy. The DeveGo Forum serves as a national platform through which we connect promising ideas with resources, partnerships, and markets, and open new avenues for promising technology and economic sectors, based on our belief that today’s youth are the makers of tomorrow, and investing in them is the true investment in the future of the nation.”

Among the most prominent agreements signed by the bank was a cooperation agreement with the United Nations Conference on Trade and Development (UNCTAD) to enhance the financial and non-financial empowerment of entrepreneurs and businesses through the global Empretec program until 2030. This contributes to aligning national efforts with global development goals and increasing the competitiveness of Saudi projects in international markets.

The agreements also included cooperation with the banking sector, with the bank signing an agreement with Arab National Bank to launch a joint financing portfolio to support entrepreneurs, in addition to an agreement with STC Bank to launch innovative financing cards for freelancers. Furthermore, the agreements encompassed the healthcare sector through a cooperation agreement with Fakieh Healthcare Group to establish a financing portfolio within the framework of social responsibility, as well as an agreement with ACWA Power to support entrepreneurs and innovators in the energy and water sectors, contributing to the creation of quality jobs and sustainable development in promising sectors.

In a related effort to build capacity and foster community development, the bank signed a cooperation agreement with Northern Border University to provide accessible financing solutions for students to support their academic pursuits. It also signed an agreement with the Heritage Commission to launch a joint program to empower local artisans and talents, transforming their passion for heritage into sustainable economic opportunities. This collaboration extended to empowering people with disabilities through an agreement with the Authority for the Care of Persons with Disabilities, aiming to empower beneficiaries economically and socially through training programs and financing opportunities that enhance their independence, quality of life, and economic participation. 
Alongside these partnerships, the first day of the forum featured a series of panel discussions and keynote speeches addressing pivotal issues in the future of entrepreneurship and modern work models. These sessions included the participation of government leaders, international experts, investors, and entrepreneurs.

In a panel discussion with Her Excellency Rebecca Greenspan, Secretary-General of the United Nations Conference on Trade and Development (UNCTAD), the focus was on empowering small and medium-sized enterprises (SMEs) to achieve sustainable development. Ms. Greenspan commended the rapid economic and entrepreneurial transformation underway in the Kingdom of Saudi Arabia and highlighted the significance of launching the Empretec Fellowship Program in the Kingdom in partnership with the Social Development Bank, emphasizing its qualitative contribution to building a generation of globally competitive entrepreneurs. The

first day's sessions also addressed the theme of future readiness and the new economy, presented by futurist Ian Khan, while also highlighting the role of social responsibility as a growth-driven investment.

The program also included a specialized session on the practical applications of artificial intelligence and advanced technologies.

In a related context, the forum discussed entrepreneurship and artificial intelligence in the Middle East and North Africa region through a presentation by Jonathan Gretchen, co-founder and CEO of the Founder Institute. The discussion also covered prospects for international cooperation in supporting sustainable entrepreneurship, in addition to a "Tech Growth Guide" session that addressed market readiness and digital transformation. This session featured the participation of government leaders and leading technology and investment companies, enriching the discussions and offering practical insights into the challenges and opportunities in the entrepreneurial economy.

The "DeveGo 2025" forum continues its work over three days with a high-quality program that includes dialogue sessions and specialized workshops, with the participation of a select group of local and international experts, investors, and entrepreneurs.

This reflects the Kingdom's growing position as a regional platform for entrepreneurship and modern business models.