Grow Tourism Accelerator Program Graduation: The Tourism Development Fund (TDF) recently concluded the first cohort of the Grow Tourism Accelerator program, which aims to foster innovation in the tourism sector by providing startups with resources, mentorship, and access to funding and partnerships.
Program Achievements and Impact: The program included over 20 training and mentorship sessions and involved 15 projects, with 11 local and 4 international startups. These startups have collectively secured investments exceeding SAR 18 million, significantly contributing to the growth and diversification of Saudi Arabia's tourism sector.
Support for National Tourism Strategy: Prince Saud bin Mohammed, CEO of TDF Grow, highlighted the program's alignment with the National Tourism Strategy and its role in enhancing Saudi Arabia’s status as a global tourist destination, reflecting TDF’s commitment to sustainable development and innovation in tourism.
Riyadh, August 30, 2024 – The Tourism Development Fund (TDF) recently celebrated a significant milestone with the closing ceremony of the first cohort of the Grow Tourism Accelerator program. This initiative is designed to drive innovation in the tourism sector, providing startups with the necessary resources, mentorship, and access to funding and strategic partnerships. The ceremony marked a pivotal moment for these emerging enterprises, showcasing their contributions to the future of tourism in Saudi Arabia.
The event attracted a diverse audience, including investors, entrepreneurs, and other stakeholders with a vested interest in the growth and development of the tourism sector. The presence of these key figures highlighted the importance of fostering an ecosystem where innovative ideas can thrive and make a tangible impact.
Prince Saud bin Mohammed, CEO of TDF Grow, addressed the attendees, underscoring the vital role of programs like the Grow Tourism Accelerator in promoting sustainable development and fostering innovation within the Kingdom’s tourism industry. He expressed pride in the accomplishments of the startups that participated in the program, emphasizing that their innovative projects are a testament to TDF’s commitment to nurturing groundbreaking ideas that align with the National Tourism Strategy. He reiterated TDF's dedication to enhancing Saudi Arabia’s reputation as a premier global tourist destination.
Throughout the ceremony, there was a comprehensive review of the program's progress and achievements over the past several months. Participants in the Grow Tourism Accelerator engaged in more than 20 intensive training and mentorship sessions, aimed at equipping them with the skills and knowledge required to navigate the competitive tourism landscape. The program featured a diverse range of 15 projects, including 11 local startups and four international and regional ventures, reflecting a broad spectrum of innovative approaches and ideas.
These startups have made significant strides in enriching the tourism sector in Saudi Arabia, contributing to its diversification and growth. The program’s success is evident in the substantial investments secured by the participating startups, which have collectively raised more than SAR 18 million to date. This financial support is crucial for their continued development and the realization of their ambitious projects, which are poised to transform the tourism industry in the Kingdom.
The closing ceremony of the Grow Tourism Accelerator program is not just an end but a beginning for these dynamic startups, as they now move forward with the support and recognition of TDF and the broader investment community. This initiative is a clear demonstration of TDF’s strategic efforts to drive the growth of Saudi Arabia’s tourism sector, aligning with the Vision 2030 goals of economic diversification and sustainable development.