The DeveGo 2025 entrepreneurship forum officially concluded its second edition in Riyadh, recording 25,000 participants and the signing of 51 strategic agreements to empower the Kingdom’s startup ecosystem. Organized by the Social Development Bank, the three-day event at the King Abdulaziz International Conference Center has established itself as a primary national platform for innovation and freelance work.

The Context: Scaling the SME Sector

As part of the Saudi Vision 2030 objective to increase the GDP contribution of small and medium enterprises (SMEs) from 20% to 35%, the forum focused on providing actionable resources for local founders. This year’s event saw a significant shift from general networking to specialized technical support, reflecting the maturing nature of the Saudi venture capital market.

New Specialized Financing Products

During the forum, the Social Development Bank launched three distinct financial instruments designed to address specific operational hurdles for micro-enterprises:

  • Capital Expansion Product: A ceiling of SAR 10 million for asset development.
  • Payroll Product: Up to SAR 2 million to support workforce stability.
  • Rental Product: A SAR 1.5 million ceiling to cover commercial facility costs.

Why This Matters: Global Integration

A key highlight of the event was the launch of the Saudi Empretec Fellowship, introduced in the presence of H.E. Rebeca Grynspan, Secretary-General of the United Nations Conference on Trade and Development (UNCTAD). This partnership signals the Kingdom’s intent to align its entrepreneurial training with international standards, facilitating a smoother path for Saudi startups to scale globally.

Beyond the formal agreements, the event featured over 45 workshops and 2,500 advisory sessions. The “NEXT UP Challenge” provided a practical bridge to capital, where 20 selected startups pitched directly to a pool of over 500 investors.

Conclusion The conclusion of the forum marks a tactical step forward for the Social Development Bank in moving from traditional lending to a more integrated “innovation and knowledge” support model. With SAR billions in potential financing unlocked, the focus now shifts to the implementation of the 51 signed agreements.