In a move aimed at speeding up the growth of startups in the tourism sector, the Saudi Tourism Development Fund (TDF) celebrated the conclusion of the first "Tourism Growth Incubator" program. This program was run by the Tourism Growth Center in a strategic partnership with Almosafer company. The celebration took place during a forum that brought together entrepreneurs, investors, and representatives from both government and private sectors to showcase the program's results and explore future collaboration opportunities.
This program is part of the TDF's efforts to boost the tourism entrepreneurship environment in the Kingdom. It supports startups by helping them develop their business models, providing guidance, training, and qualification services, and connecting them with investors and strategic partners. All these efforts help prepare projects for expansion and growth, aligning perfectly with the goals of the National Tourism Strategy and Saudi Vision 2030.
30 Startups Supported Over 10 Months
The first edition of the program successfully incubated 30 startups over a period of ten months. Out of these, 20 companies participated in the in-person track, while 10 companies joined through the virtual track.
Participating companies benefited from over 230 specialized business development sessions, more than 20 workshops, 35 training opportunities, and 30 service grants across various fields. They also had a field visit to the H-Farm center in Italy to learn about global experiences and best practices in entrepreneurship and innovation.
Boosting Project Readiness for Investment
Qusai bin Abdullah Al-Fakhri, CEO of the Tourism Development Fund, stated that the "Tourism Growth Incubator" program truly shows the Fund's role in empowering entrepreneurs and startups. It does this by offering specialized knowledge, guidance, and networking opportunities with investors and partners, which helps projects move to more advanced stages of growth and expansion.
He added that the participating companies have made significant progress in their business models and are well-prepared for the next phase. This really highlights the growing potential of the tourism entrepreneurship ecosystem in the Kingdom.
Over 14,000 Beneficiaries from the Center's Programs
The incubated companies included a diverse range of projects. These covered areas like tourism technologies, digital platforms, visitor experiences, cultural and heritage tourism, as well as AI-powered solutions and innovative tourism services.
The forum also gave participating companies a fantastic chance to showcase their projects and connect directly with investors and relevant stakeholders. This really boosts their opportunities to build new partnerships and attract investments that support their expansion.
The Tourism Growth Center continues to implement its non-funding programs and initiatives, all aimed at developing the tourism entrepreneurship ecosystem. So far, over 14,000 beneficiaries, including entrepreneurs, startups, and small and medium-sized enterprises, have benefited from its services. This ongoing effort supports the growth of tourism projects and strengthens the sector's contribution to sustainable economic development in the Kingdom.
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