Introduction to DeveGo 2025
Riyadh, Saudi Arabia, recently hosted the second edition of the Entrepreneurship and Modern Business Practices Forum, “DeveGo 2025”, from 21 to 23 December. The event was held under the patronage of His Excellency Eng. Ahmed bin Sulaiman Al Rajhi, Minister of Human Resources and Social Development and Chairman of the Social Development Bank’s (SDB) Board of Directors. The forum brought together government leaders, global experts, investors, and entrepreneurs to shape the future of entrepreneurship and modern business practices in the Kingdom of Saudi Arabia.
The Growing Vibrancy of Saudi Arabia’s Entrepreneurial Movement
Minister Al Rajhi delivered a keynote speech on the growing vibrancy of Saudi Arabia’s entrepreneurial movement, highlighting the Kingdom’s transformation in entrepreneurship and freelance ecosystems. He noted that the Social Development Bank injects more than SAR 8 billion annually to support enterprises and entrepreneurs, contributing to an increase in employment at bank-funded businesses from 12,000 in 2021 to more than 140,000 in 2025.
Building Entrepreneurial Capacity through Empretec
A central focus of DeveGo 2025 is building entrepreneurial capacity through the Empretec program, led by SDB and the United Nations Conference on Trade and Development (UNCTAD). During the forum, SDB announced the launch of the Saudi Empretec Fellowship, attended by H.E. Rebeca Grynspan, Secretary-General of UNCTAD. This initiative marks a significant milestone in Saudi Arabia’s collaboration with international institutions to support high-potential entrepreneurs through intensive training, mentorship, and access to global networks. The fellowship aims to help Saudi entrepreneurs scale their ventures and compete internationally.
Strategic Partnerships and Innovative Financing Solutions
Eng. Sultan bin Abdulaziz AlHamidi, CEO of the Social Development Bank, emphasized the importance of strategic partnerships, innovative financing solutions, and global programs such as Empretec in partnership with UNCTAD. He stated that these initiatives empower entrepreneurs to grow, scale, and compete locally and internationally, contributing to a diversified and knowledge-based Saudi economy. The forum also witnessed the signing of over 50 agreements that reinforce SDB’s role in building an integrated entrepreneurial ecosystem, including innovative financing portfolios, corporate social responsibility initiatives, and local and international partnerships.
Conclusion
The DeveGo 2025 forum has played a significant role in shaping the future of entrepreneurship and modern business practices in Saudi Arabia. With its focus on building entrepreneurial capacity, strategic partnerships, and innovative financing solutions, the event has paved the way for Saudi entrepreneurs to scale their ventures and compete internationally. As the Kingdom continues to diversify its economy and support entrepreneurs, initiatives like DeveGo 2025 will be crucial in driving growth and innovation in the region.
