JEDDAH: Saudi Arabia's Small and Medium Enterprises General Authority, known as Monsha'at, has supported around 3,300 fast-growing businesses through its Tomoh program since its launch in 2017, helping 40 companies list on the Kingdom's parallel stock market, a senior official said.
Tomoh is an entrepreneurial ecosystem that provides specialized services and programs in partnership with local and international organizations, enabling high-growth companies to access three core pillars: knowledge, markets, and financing, according to Mashhor Al-Sakkaf, business growth team leader at the program.
Tomoh-supported companies generate $10.1bn in revenue
Speaking during a workshop on the journey of high-growth enterprises with Tomoh at the Jeddah Chamber, Al-Sakkaf said companies participating in the program generated more than SR38 billion ($10.1 billion) in revenue, representing 19 percent year-on-year growth.
He added that companies listed on Saudi Arabia's parallel stock market, Nomu, have reached a combined market capitalization of more than SR22 billion and have attracted over SR5 billion in investments.
Employment across companies participating in the program has also risen to more than 99,000 workers, reflecting annual growth of 18 percent.
The event highlighted success stories from companies supported by Tomoh, including media production company Telfaz11, human resources solutions provider Kabi, and the Reefi apparel company.
Journey begins with registration on the Tomoh platform
The program has supported several successful companies, including Lana Medical Co. in the healthcare sector, Zid, which specializes in e-commerce solutions, Drahim in financial technology, and Sweater, a car care services provider.
According to Monsha'at, companies seeking to join the program must qualify as small or medium-sized enterprises with annual growth of 20 percent or more in either revenue or employee numbers for three consecutive years.
Al-Sakkaf said: “A company's journey begins by registering on the Tomoh platform, followed by a self-assessment comprising 145 questions to identify strengths and areas for improvement. Each company is then assigned a relationship manager before gaining access to specialized services and receiving a tailored growth plan designed to meet its specific needs.”
Financing programs focus on listing readiness
The program’s financing initiatives focus on preparing companies for listing on financial markets, governance, and financial advisory services, as well as connecting enterprises with investors.
The initiative also helps companies access expertise through specialists, knowledge-sharing trips, advisory services, and growth plans, while improving operational efficiency and supply chains.
It further supports market access through business-matching sessions, participation in international exhibitions, and connections with licensed export houses and trade missions.
The program aims to create a supportive environment for the growth and expansion of small and medium-sized enterprises, enabling them to build competitive advantages, expand into domestic and international markets, and improve operational performance beyond expected growth trajectories.
Regarding ongoing international growth programs, Al-Sakkaf said work is underway to implement two initiatives and facilitate companies’ membership in Endeavor and Entrepreneurs' Organization networks to strengthen their global presence and expand investment and business connections.
More than 20 companies have also been sent to Turkiye to gain experience and learn from international markets.
