RAD 23 offers opportunities for partnerships and products/services for entrepreneurs and innovators
In the midst of a diverse investment movement encompassing technology, industry, commerce, and services, with broad participation from government entities, Saudi and Egyptian entrepreneurs, as well as funds and organizations focused on entrepreneurship in the Kingdom, the Eastern Chamber concluded its seventh edition of the Entrepreneurship Forum and Exhibition (RAD23) on the evening of Wednesday, November 15, 2023. The event was inaugurated by His Royal Highness Prince Saud bin Nayef bin Abdulaziz, the Governor of the Eastern Province, on Monday, November 13.
The exhibition provided opportunities for partnerships and promotion of products and services for entrepreneurs and innovators. Over three consecutive days, the event offered the economic community, large companies, and business leaders the opportunity to explore the products, services, projects, and initiatives of entrepreneurs and business leaders.
The Chairman of Asharqia Chamber, Badr bin Suleiman Al-Rizeza, stated that the exhibition represented an opportunity for young male and female entrepreneurs. It provided a platform for them to meet, exchange experiences, learn from each other, open new markets, and become acquainted with support and financing programs in the Kingdom of Saudi Arabia and the Arab Republic of Egypt. Their participation added value to the exhibition due to the diversity of their establishments, spanning education, culture, technology, and more.
Al-Rizeza expressed his pride in the success of the exhibition and forum in delivering their message by providing an opportunity for the economic community to familiarize themselves with the products and services of youth projects and to support them. This, in turn, contributes to the establishment of competitive entities both domestically and internationally. He emphasized that the forum showcased outstanding young individuals capable of shouldering responsibility, highlighting the significant diversity in the projects presented by young men and women, ranging from technology to services, industry, and various types of commerce.
On his part, Saad bin Khalid Al-Mujil, the President of the Youth Business Council in the Eastern Province, stated that the forum was a platform for competitive interaction between Saudi and Egyptian young entrepreneurs. He expressed his appreciation for all participants who presented projects reflecting the innovative ideas and diverse perspectives of youth, which could be valuable additions to the national economy. He noted that the exhibition revealed the new ideas held by youth, facilitated connections between them and experienced individuals, and supported initiatives and outstanding ideas. This support aimed to guide them in their economic journey on solid foundations and established principles.
The exhibition covered seven main axes, during which speakers highlighted the roles played by the state in empowering entrepreneurs. They discussed supportive programs provided by governmental and non-governmental entities, examined the impact of technological entrepreneurship on the economy in line with the vision, and addressed the support for entrepreneurial projects in the Kingdom. Additionally, they reviewed experiences of angel investing in the Eastern Province and its role in developing the entrepreneurial business environment.
The forum included about 8 workshops presented by various institutions affiliated with entrepreneurship. The Industrial Development Fund showcased its incentive programs and advisory services for entrepreneurs. The Human Resources Development Fund (HADAF) provided a comprehensive overview of the "Tisaar Ashaar" platform. The Prince Sultan bin Abdulaziz Development Fund discussed the use of artificial intelligence by entrepreneurs in innovative projects.
The Industrial Growth Incubator highlighted ways to empower entrepreneurs in industrial growth. A project exemplar from an innovative manufacturing solutions company demonstrated how to transform an idea into a prototype. The Saudi Organization for Certified Public Accountants emphasized the importance of accounting in entrepreneurship. The Local Content and Government Procurement Authority reviewed mechanisms for local content, and finally, the Zakat, Tax, and Customs Authority workshop covered the facilitations provided to small and medium-sized projects.
