Tourism Development Fund Marks Completion of First Edition of ‘Grow Tourism Incubator’ Featuring 30 Startups - Business Today Middle East
The Tourism Development Fund (TDF), the national enabler of tourism investment in Saudi Arabia, has announced the successful completion of the first edition of itsGrow Tourism Incubatorprogramme, delivered. . .
The Tourism Development Fund (TDF), the national enabler of tourism investment in Saudi Arabia, has announced the successful completion of the first edition of itsGrow Tourism Incubatorprogramme, delivered through the Tourism Growth Center in strategic partnership with Almosafer, during the Grow Tourism Incubator Forum for Entrepreneurs and Investors. The closing event brought together a wide network of stakeholders, including investors, entrepreneurs, strategic partners, and representatives from government entities and the private sector, reflecting the programme’s role in strengthening collaboration across Saudi Arabia’s tourism ecosystem. Designed to support the development of a more dynamic and competitive tourism sector, the Grow Tourism Incubator forms part of TDF’s broader efforts to empower startups and entrepreneurs by providing them with structured non-financial support. This includes specialised mentorship, business development guidance, capacity-building initiatives, and access to investors and strategic partners, all aimed at improving the readiness and scalability of participating ventures. The programme is closely aligned with the objectives of the National Tourism Strategy and Saudi Vision 2030, which seek to diversify the economy, expand tourism offerings, and increase the sector’s contribution to national GDP. The first edition of the incubator supported30 tourism-focused startups over a 10-month period, with participants divided between two tracks: 20 companies in an in-person cohort and 10 in a virtual track. Throughout the programme, startups benefited from more than 230 business development sessions, over 20 specialised workshops, 35 targeted training opportunities, and 30 service grants covering various aspects of business growth and operational development. In addition to local training and mentorship, the programme also featured an international learning component, including a visit toH-FARM in Italy, where participants were exposed to global best practices in entrepreneurship, innovation, and startup scaling strategies. Officials noted that this exposure to international ecosystems played a key role in enhancing the participating startups’ ability to refine their business models, improve tourism-related products and services, and prepare for future expansion in both domestic and international markets. Through initiatives like the Grow Tourism Incubator, the Tourism Development Fund continues to position itself as a catalyst for tourism innovation in Saudi Arabia, supporting early-stage companies and strengthening the wider entrepreneurial landscape that underpins the Kingdom’s growing tourism ambitions.