The Social Development Bank (SDB) hosted the second edition of the Entrepreneurship and Modern Business Practices Forum, DeveGo 2025, from 21 to 23 December 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 brought together government leaders, global experts, investors, and entrepreneurs to shape the future of entrepreneurship and modern business practices in Saudi Arabia.
Saudi Arabia’s Growing Entrepreneurial Movement
In his keynote speech, Minister Al Rajhi highlighted the rapid transformation of the Kingdom’s entrepreneurial and freelance ecosystems. He noted that the Social Development Bank injects over SAR 8 billion annually to support enterprises and entrepreneurs. This investment has significantly increased employment at SDB-funded businesses, from 12,000 jobs in 2021 to more than 140,000 in 2025.
Building Entrepreneurial Capacity through Empretec
A major focus of DeveGo 2025 was building entrepreneurial capacity via the Empretec program, a collaboration between 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.
The fellowship provides high-potential Saudi entrepreneurs with intensive training, mentorship, and access to global networks, helping them scale their ventures and compete internationally. This initiative represents a major milestone in Saudi Arabia’s partnership with international institutions to support innovative entrepreneurship.
Empowering Entrepreneurs at Every Stage
Eng. Sultan bin Abdulaziz AlHamidi, CEO of SDB, emphasized in his opening speech:
“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.”
Strengthening the Entrepreneurial Ecosystem
The forum also saw the signing of over 50 agreements aimed at reinforcing SDB’s role in building an integrated entrepreneurial ecosystem. These agreements cover innovative financing portfolios, corporate social responsibility initiatives, and local and international partnerships, expanding access to both financial and non-financial solutions for Saudi entrepreneurs.
DeveGo 2025 demonstrates Saudi Arabia’s commitment to fostering entrepreneurship, supporting startups, and creating a vibrant ecosystem that drives economic diversification and sustainable growth.
