Important Facts of the News

• MoU signed between Monsha’at and Thailand’s NIA.
• Focus on supporting technology startups.
• Joint innovation competitions to be launched.
• Collaborative programs to share international innovation best practices.
• Signed during Biban Forum 2025 in Riyadh.
• Biban Forum held from November 5 to 8, 2025.
• Forum theme: “Global Destination for Opportunities.”
• Event attracted broad global participation.
• Agreements and deals exceeded SAR22 billion.

Saudi Arabia and Thailand Partner to Boost Tech Startups

Saudi Arabia’s Small and Medium Enterprises General Authority, known as Monsha’at, has entered into a strategic partnership with Thailand’s National Innovation Agency (NIA) to foster innovation and accelerate the growth of technology startups. The memorandum of understanding was signed on the sidelines of the Biban Forum 2025 in Riyadh.

Joint Efforts for Innovation Excellence

This cooperation aims to launch joint innovation competitions, where startups from both countries will have a chance to collaborate and innovate across sectors. The initiative is also geared toward sharing international best practices through the development of programs with leading research centers, innovation hubs, and business incubators in Saudi Arabia and Thailand.

Biban Forum Marks Major Milestone

The agreement was formalized during the Biban Forum 2025, a major international platform for entrepreneurship and collaboration. This year’s edition, held under the theme “Global Destination for Opportunities,” saw remarkable global participation. The event highlighted the Kingdom of Saudi Arabia’s increasing role in fostering business and innovation partnerships.

Notably, the forum witnessed agreements and business deals worth over SAR22 billion, underscoring its significance as a global arena for economic and startup engagement. The MoU between Monsha’at and NIA is set to pave the way for stronger ties in innovation, enhancing the competitive edge of Saudi and Thai startup ecosystems.

Looking Ahead

With this partnership, both Saudi Arabia and Thailand are poised to enhance their innovation landscapes, providing new avenues for entrepreneurs to develop cutting-edge solutions. This collaboration reinforces the commitment of both countries to drive economic growth through technology and innovation.