Tourism Development Fund Completes Inaugural ‘Grow Tourism Incubator’ with 30 Startups

Riyadh: The Tourism Development Fund (TDF), the national enabler of tourism investment in Saudi Arabia, marked the successful completion of the first edition of the Grow Tourism Incubator program. This initiative, spearheaded by the Tourism Growth Center, TDF's non-financial enabling arm, was held in strategic partnership with Almosafer during the Grow Tourism Incubator Forum for Entrepreneurs and Investors. According to Saudi Press Agency, the event drew a distinguished assembly of investors, entrepreneurs, strategic partners, and representatives from both government entities and the private sector. The Grow Tourism Incubator program is a significant part of TDF's broader efforts to bolster the entrepreneurship ecosystem within the tourism sector. It aims to empower startups and entrepreneurs by providing a comprehensive framework for specialized mentorship, business development, capacity building, and connections to investors and strategic partners. The program's objective is to prepare these ventures for growth and expansion, thereby enhancing their business models and tourism-related products and services. This aligns with the National Tourism Strategy and Saudi Vision 2030's goals. During its first edition, the program supported 30 startups over 10 months, with 20 companies participating in the in-person track and 10 in the virtual track. These startups benefited from more than 230 business development sessions, over 20 specialized workshops, 35 training opportunities, and received 30 service grants across various sectors. Moreover, the program included an international visit to H-FARM in Italy, offering participants the chance to learn from global best practices in entrepreneurship and further preparing their ventures for growth and expansion.