Latest news with #Monshaat
Argaam
12-05-2025
- Business
- Argaam
Past years witness strong efforts to boost new listings: Elkuwaiz
Mohammed Elkuwaiz, Chairman of the Capital Market Authority (CMA), said past years have seen major efforts to promote listings on the Saudi financial market and expand funding options for small and medium enterprises (SMEs). Speaking at the 'Enterprise Support Council' during 'Finance Week' hosted by Monshaat, he said SMEs now make up 30% of listed companies. After expanding their businesses, 14 of these moved from Nomu to the main market, demonstrating the CMA's ability to create an atmosphere that is conducive to investment. Elkuwaiz noted that Saudi companies now have access to nine financing channels, most of which were developed in recent years, describing Nomu's launch as a key reform to attract more companies to the market, the Saudi Press Agency (SPA) reported. Since its launch, Nomu's main index has grown tenfold. Market capitalization jumped 26x to nearly SAR 60 billion by the end of last year. Liquidity also rose significantly, with 2024 trading value reaching SAR 14 billion, eight times higher than earlier levels. The CMA reviewed all listing and offering requirements to align with global standards. It introduced direct listings and worked with regulators to ease rules, helping SMEs access the market more efficiently. He said the CMA, alongside other agencies, launched over 14 incentives to support listings and new IPOs, including changes to government procurement laws, credit rating frameworks, and evaluation processes for listed firms. Fintech has become a key player in the capital market. Sector revenues surged 105% in 2024 versus 2023, he added. Elkuwaiz stressed the importance of credit ratings, especially for debt-based financing, as vital tools to support market growth and sustainability.
CairoScene
01-05-2025
- Business
- CairoScene
Saudi Fintech Erad Raises $16M to Bridge Gulf SME Funding Gap
Erad aims to address the Gulf's estimated $250 billion credit shortfall for small businesses using data-driven lending platforms. May 01, 2025 Riyadh-based fintech Erad has secured $16 million in pre−Series A funding, led by Silicon Valley's YCombinator and regional investors, to expand its Sharia−compliant financing services for SMEs. The startup, which has raised $27 million to date, aims to address the Gulf's estimated $250 billion credit shortfall for small businesses using data-driven lending platforms. Saudi SMEs received SAR 352 billion ($94 billion) in credit during 2024- a 28% annual increase- with banks accounting for 95% of lending. Erad's growth aligns with efforts to diversify funding sources across the kingdom, including Monshaat's 80% loan guarantees to incentivise lenders. The Gulf's SME sector, representing 29% of Saudi Arabia's GDP in 2023, remains underserved despite rapid credit expansion. Erad's model focuses on streamlining access to finance for businesses excluded by traditional banking criteria.
Leaders
15-04-2025
- Business
- Leaders
Biban24 Secures MUSE Creative Award as Best Event in Entrepreneurship Category
The Biban24 Forum has secured the MUSE Creative Award for the Best Event in the Entrepreneurship category for 2024, according to the Saudi Press Agency. This recognition stands as a living proof of the forum's crucial role in empowering entrepreneurs and supporting businesses. Biban24 Forum Biban24 serves as a significant platform for entrepreneurs to launch their ventures and bolster the Kingdom's business environment. The forum basically aims to shed light on Saudi Arabia's entrepreneurial zeal and its pioneering presence at local, regional, and global levels. Monshaat Organized by the Small and Medium Enterprises General Authority (Monshaat), the forum represents one of the world's most pioneering events in the entrepreneurship sector. In this regard, Monsha'at emphasized that the event has set a priority to attract leading small and medium enterprises to the Kingdom's unique investment environment. Therefore, Biban24 has further positioned Saudi Arabia as a global prestigious hub embracing investment opportunities and initiatives. 'With Saudi Arabia continuing to serve as a gateway to a rich range of possibilities in a diversity of markets, Biban24 Forum provides investors from the region and around the world a timely platform to explore new and emerging opportunities with the potential to boost their business prospects significantly. Fostering an enabling environment conducive to collaboration, the meaningful exchange of ideas, and innovation, the conference is set to bring even more budding and established entrepreneurs, startup founders, and leaders together to bolster the regional and global SMEs ecosystem, creating a more prosperous future for all,' Sami Ibrahim Alhussaini, Monsha'at's Governor, said. Biban24 has launched various initiatives and signed agreements surpassing SAR35.4 billion, along with the participation of more than 1,350 startups from 72 countries around the world. Related Topics: Biban24 Forum Concludes with SAR 35.4bn Worth of Agreements Biban24 Forum Wraps Up with World Cup Qualifiers Mosha'at's Virtual Lab: Empowering Entrepreneurs at Biban24 Short link : Post Views: 21
Web Release
14-04-2025
- Health
- Web Release
Innovation Capacity Building Program Concluded Successfully by Siemens Healthineers in Saudi Arabia
By Editor_wr On Apr 14, 2025 The Innovation Capacity Building Program, organized by Siemens Healthineers through its Regional Headquarters (RHQ) in Saudi Arabia, was successfully concluded from February 5-20, 2025, to strengthen local innovation expertise and foster strategic collaborations with universities, hospitals, startups, and key stakeholders such as Monshaat. Bringing together 40 participants from diverse backgrounds including doctors, engineers, healthcare professionals, researchers, and students the comprehensive two-week initiative facilitated cross-disciplinary synergies, enabling participants to identify critical healthcare gaps and develop innovative solutions to address them. This program highlights Siemens Healthineers' commitment to enhancing healthcare capabilities within the Kingdom. Syed Ali Mehdi, Director, Head of Innovation and Scientific Partnership, Siemens Healthineers Regional Headquarter, expressed his pride in the program's success, stating: 'At Siemens Healthineers, we are committed to driving healthcare innovation and capacity building in Saudi Arabia. This program demonstrates our dedication to fostering local value creation by bring key stakeholders together and working with one mission i.e. Improving the future of healthcare in the Kingdom of Saudi Arabia in alignment with Saudi Vision 2030' With the increasing urge to overcome pressing healthcare challenges, the program put the spotlight on three main project workstreams: Disease Pathways, Healthcare Systems of the Future and Medical curriculum of the Future. As part of these workstreams, participants utilized the Innovation Methodologies to develop data-driven, patient-centric solutions optimizing the healthcare delivery and improving outcomes. The program was concluded with the Outcome Exhibition on February 20, 2025, at Monshaat Startup Hub in Riyadh. Monshaat, Saudi Arabia's Small and Medium Enterprises General Authority, plays a key role in fostering entrepreneurship and innovation, making it an ideal partner for this program. Dr. Kholoud Alghamdi, Dean of the Institute of Innovation and Entrepreneurship at Imam Abdulrahman Bin Faisal University expressed her delight at the success of the program, saying: 'What makes this program unique are the different partnerships involved, with the presence of various organizations alongside Siemens Healthineers. Moreover, there is Monshaat which is considered one of the most important entities that support ideas and innovations and help translate them into reality. This type of diverse partnerships is what we need, as it brings together the talented minds and the organizations that will adopt their work.' At this edition of the program, Siemens Healthineers led the positive change in the healthcare digital world by providing an overview of its comprehensive solutions portfolio, including innovation and scientific partnerships, as well as education and capacity-building initiatives. Comments are closed.
Mid East Info
25-03-2025
- Health
- Mid East Info
Innovation Capacity Building Program Concluded Successfully by Siemens Healthineers in Saudi Arabia - Middle East Business News and Information
In addition to showcasing its commitment to capacity building and innovation, Siemens Healthineers demonstrated its innovative approach to healthcare transformation, leveraging global expertise and partnerships to drive sustainable growth in Saudi Arabia. The Innovation Capacity Building Program, conducted by Siemens Healthineers through its Regional Headquarters (RHQ) in Saudi Arabia, has successfully concluded. Held from February 5-20, 2025, the program aimed to strengthen local expertise and foster strategic collaborations with universities, hospitals, startups, and key stakeholders such as Monshaat. Bringing together 40 participants from diverse backgrounds including doctors, engineers, healthcare professionals, researchers, and students the comprehensive two-week initiative facilitated cross-disciplinary synergies, enabling participants to identify critical healthcare gaps and develop innovative solutions to address them. This program highlights Siemens Healthineers' commitment to enhancing healthcare capabilities within the Kingdom. With the increasing urge to overcome pressing healthcare challenges, the program put the spotlight on three main project workstreams: Disease Pathways, Healthcare Systems of the Future and Medical curriculum of the Future. As part of these workstreams, participants utilized the Innovation Methodologies to develop data-driven, patient-centric solutions optimizing the healthcare delivery and improving outcomes. Dr. Abdulaziz Alhomod, Head of Radiology at SEHA Virtual Hospital, Ministry of Health, expressed his pride in the program's success, stating: 'Innovation is the cornerstone of transformative healthcare. It was a great experience to join Siemens Healthineers Innovation Capacity Building Program, which reaffirms the power of innovation and collaboration in shaping future care delivery. This experience fuels my commitment to continuous engagement with Siemens Healthineers to build local innovation, entrepreneurship, and commercialization expertise, identify and address the key healthcare challenges, and improve cross-institutional collaborations.' The program was concluded with the Outcome Exhibition on February 20, 2025, at Monshaat Startup Hub in Riyadh. Monshaat, Saudi Arabia's Small and Medium Enterprises General Authority, plays a key role in fostering entrepreneurship and innovation, making it an ideal partner for this program. At this edition of the program, Siemens Healthineers led the positive change in the healthcare digital world by providing an overview of its comprehensive solutions portfolio, including innovation and scientific partnerships, as well as education and capacity-building initiatives. About Siemens Healthineers: Siemens Healthineers AG (listed in Frankfurt, Germany: SHL) pioneers breakthroughs in healthcare. For everyone. Everywhere. Sustainably. The company is a global provider of healthcare equipment, solutions and services, with activities in more than 180 countries and direct representation in more than 70. The group comprises Siemens Healthineers AG, listed as SHL in Frankfurt, Germany, and its subsidiaries. As a leading medical technology company, Siemens Healthineers is committed to improving access to healthcare for underserved communities worldwide and is striving to overcome the most threatening diseases. The company is principally active in the areas of imaging, diagnostics, cancer care and minimally invasive therapies, augmented by digital technology and artificial intelligence. In fiscal 2023, which ended on September 30, 2023, Siemens Healthineers had approximately 71,000 employees worldwide and generated revenue of around €21.7 billion.
