In a strategic move to advance the business media sector, the General Authority for Small and Medium Enterprises, also known as ‘Monsha’at’, unveiled the commencement of Innovation Week 2024 today. This initiative is part of a series of business-focused weeks and is launched in collaboration with the Authority for the Development of Research, Development and Innovation and the Saudi Authority for Intellectual Property, with participation from numerous entities across the public and private sectors. The event will take place across enterprise support centers in Riyadh, Jeddah, Medina, and Khobar.
The week kicks off with an opening session featuring Saud Al Subaie, Deputy Governor of Monsha’at for Entrepreneurship, and Dr. Mohammed Al Otaibi, the General Supervisor of the Authority for the Development of Research, Development and Innovation, alongside various government officials dedicated to development and innovation. Discussions will center on the pivotal role of entrepreneurship as a driving force in the innovation and development sectors.
The objective of Innovation Week is to enhance the culture of innovation, intellectual property, and entrepreneurship, to motivate national talents in boosting the local economy through creative ideas and solutions. It also aims to provide a platform for networking and knowledge exchange among researchers, innovators, entrepreneurs, investors, and related governmental bodies.
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The week’s agenda includes workshops, success stories presented by innovative enterprises, panel discussions on market opportunities in the Saudi market by a host of specialized local companies, as well as individual advisory sessions offered by government agencies to entrepreneurs.
Innovation Week’s activities are tailored to encompass all aspects of commercial innovation, focusing on the four national priorities for research, development, and innovation: human health innovations, environmental sustainability innovations, energy and industry innovations, and digital technologies and intellectual property, alongside innovation in business models and patterns.
The week emphasizes the creation of sustainable business relationships between innovative entrepreneurs, small and medium-sized innovative enterprises, and entities from the public, private, and non-profit sectors across the Kingdom. These alliances are capable of providing services and opportunities that support innovation, thereby accelerating the introduction of more local commercial innovations.
Through the organization of specialized weeks, ‘Monsha’at’ continues its supportive role in opening avenues for small and medium-sized enterprises (SMEs), in collaboration with all partners to offer opportunities for entrepreneurs. These opportunities are essential in achieving growth goals for SMEs, ensuring their sustainability and development to contribute to the targets of Saudi Vision 2030.
