Saudi's Social Development Bank Showcases Strategic Partnerships and Global Initiatives at DeveGo 2025 The Riyadh-based forum held witnessed the signing of over 50 agreements aimed at strengthening the Kingdom's entrepreneurial ecosystem.
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The Social Development Bank (SDB) of Saudi Arabia hosted the second edition of the Entrepreneurship and Modern Business Practices Forum, DeveGo 2025, from December 21-23 at the King Abdulaziz International Conference Center in Riyadh. Held under the patronage of H.E. Eng. Ahmed bin Sulaiman Al Rajhi, Minister of Human Resources and Social Development and Chairman of SDB's Board of Directors, the forum brings together government leaders, global experts, investors, and entrepreneurs to shape the future of entrepreneurship and modern business practices in the Kingdom of Saudi Arabia, and explore emerging opportunities in high-growth sectors aligned with Saudi Vision 2030.
Opening the forum, H.E. Al-Rajhi delivered a keynote speech highlighting the growing vibrancy of Saudi Arabia's entrepreneurial movement. He noted that the Kingdom is undergoing a qualitative transformation in its entrepreneurship and freelance ecosystems, empowering young entrepreneurs to enter promising fields such as artificial intelligence, renewable energy, advanced technologies, and venture capital. These developments, he said, are expanding opportunities for innovation, business growth, and global competitiveness. The Minister added that SDB 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.
A central focus of DeveGo 2025 is entrepreneurial capacity building, particularly 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, in the presence of H.E. Rebeca Grynspan, Secretary-General of UNCTAD, marking a significant milestone in Saudi Arabia's collaboration with international institutions to support high-potential entrepreneurs through intensive training programs, international mentorship, and access to global entrepreneurial networks. The fellowship aims to help Saudi entrepreneurs scale their ventures and compete in international markets.
Setting the tone for the forum in his opening speech, Eng. Sultan bin Abdulaziz Al-Humaidi, CEO of the Social Development Bank, said: "DeveGo has become a national platform that brings together ideas, expertise, and opportunity. Through strategic partnerships, innovative financing solutions, and global programs such as Empretec in partnership with UNCTAD, we are empowering entrepreneurs to grow, scale, and compete locally and internationally. Our focus is on supporting entrepreneurs at every stage of their journey while 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. These agreements feature innovative financing portfolios and local and international partnerships aimed at expanding access to financial and non-financial solutions for entrepreneurs, startups, freelance workers, and productive families. Such collaborations foster sustainable growth and align with the Kingdom's economic transformation goals under Saudi Vision 2030.
Additionally, the agreements include corporate social responsibility initiatives designed to enhance the bank's CSR portfolio and promote sustainable development. The CSR portfolio involves collaborating with major national companies in the water, energy, food, and logistics sectors to create financial portfolios that ensure support effectively reaches target groups.
DeveGO gathered a distinguished group of local and international entrepreneurs, investors, experts, and government leaders, including UNCTAD Secretary-General Her Excellency Rebeca Grynspan, futurist Ian Khan, and Founder Institute CEO Jonathan Greechan.
The forum featured over 85 speakers, over 45 specialized workshops, and 150 advisors, offering entrepreneurs practical insights and support across the full business lifecycle. Interactive zones, startup challenges, and an exhibition featuring over 150 booths showcase innovative projects by startups, micro-enterprises, and productive families from across the Kingdom of Saudi Arabia.
