The Tourism Development Fund (TDF), the National Steward of Tourism Investment in Saudi Arabia, celebrated the completion of the first edition of the Grow Tourism Incubator, led by TDF Grow, the Fund’s non-financial enablement arm, in strategic partnership with Almosafer.
The milestone was marked during the Grow
Tourism Incubator Mixer, which brought together a distinguished group of
investors, entrepreneurs, strategic partners, and representatives from both the
public and private sectors.
The programme forms part of TDF’s ongoing
efforts to strengthen Saudi Arabia’s tourism entrepreneurship ecosystem by
empowering startups and entrepreneurs through a comprehensive support framework
that includes specialised mentorship, business development services,
capacity-building opportunities, and connections with investors and strategic
partners.
The initiative is designed to enhance the
readiness of tourism ventures for growth and expansion while supporting the
development of innovative business models, products, and services that
contribute to the advancement of the tourism sector, in line with the National
Tourism Strategy and Saudi Vision 2030.
Over a ten-month period, the inaugural
edition of the incubator supported 30 startups, including 20 participating
through the in-person track and 10 through the virtual track. Participating
companies benefited from more than 230 business development sessions, over 20
specialised workshops, 35 training opportunities, and 30 service grants across
a range of disciplines.
The programme also included an
international learning visit to H-Farm in Italy, providing participants with
exposure to global best practices in entrepreneurship and innovation, further
strengthening their readiness to scale and grow their businesses.
Qusai Al-Fakhri, Chief Executive Officer of
the Tourism Development Fund, said: "The Grow Tourism Incubator represents
a practical example of the Fund’s role in empowering startups and entrepreneurs
within the tourism sector by providing them with specialised knowledge,
mentorship, and access to investors and strategic partners, enabling them to
accelerate their growth and expansion. We are proud of the progress achieved by
the participating companies throughout the incubation journey and their
readiness to advance to the next stage of growth, reflecting the significant
potential of Saudi Arabia’s tourism entrepreneurship ecosystem."
The incubated startups represented a
diverse range of sectors that support the tourism industry, including tourism
technology, digital platforms, visitor experience solutions, cultural and
heritage tourism, and AI-powered innovations, in addition to ventures focused
on developing innovative tourism products and services.
The event also featured presentations from a number of participating startups and provided entrepreneurs with the opportunity to engage directly with investors and key ecosystem stakeholders, fostering growth opportunities and paving the way for future investment partnerships. -TradeArabia News Service
