Saudi Tourism Development Fund Launches Initiatives to Boost Startup Growth
Three support programs aim to empower tourism startups in Saudi Arabia through incubation, hackathons, and acceleration.
Riyadh: The Saudi Tourism Development Fund (TDF) has introduced three new initiatives aimed at bolstering the growth of tourism startups within the Kingdom.
These programs are part of TDF Grow, the non-financial enablement arm of the fund, and aim to accelerate innovation and investment in Saudi Arabia's burgeoning travel economy as a key component of Vision 2030, the nation’s economic diversification strategy.The suite of initiatives includes the Grow Tourism Incubator, the Tourism Hackathons and Bootcamps, and the Grow Tourism Accelerator.
These programs target early-stage tourism startups by offering support that addresses their specific needs, such as legal advice, marketing services, and logistical assistance.Saudi Arabia has made significant strides in developing its tourism sector, with a National Tourism Strategy targeting 150 million annual visitors by 2030 — a goal that was surpassed ahead of schedule.
In 2024, the Kingdom welcomed over 116 million tourists, exceeding the yearly target for the second consecutive year.Qusai bin Abdullah Al-Fakhri, CEO of TDF, emphasized the fund's commitment to empowering entrepreneurs and supporting them from ideation to scale.
He stated that practical enablement is key, providing guidance, support, and connections with stakeholders necessary to build a sustainable tourism sector aligned with Saudi Vision 2030.The Grow Tourism Incubator Program is currently in its first edition and is open for registration until July 17th.
It spans 10 months and offers entrepreneurs access to resources such as shared workspaces and specialized training sessions.
These will be delivered both online and at TDF headquarters, ensuring broad accessibility throughout the Kingdom.In parallel, the Tourism Hackathons and Bootcamps program will run for five months in key regions like Asir, Al-Ahsa, and Madinah.
This initiative encourages innovators to develop their ideas through hackathons followed by training bootcamps aimed at turning concepts into practical prototypes.The Grow Tourism Accelerator program has already graduated 99 participants since its inception and is designed for startups looking to scale within the tourism sector.
It attracts international companies, enriching the investment landscape with diverse opportunities that enhance service quality across the industry.These latest initiatives from TDF are expected to significantly bolster Saudi Arabia's tourism startup ecosystem by offering a comprehensive support system ranging from ideation through acceleration.
As these programs take effect, they promise to foster innovation and entrepreneurship within the country’s travel sector.
These programs are part of TDF Grow, the non-financial enablement arm of the fund, and aim to accelerate innovation and investment in Saudi Arabia's burgeoning travel economy as a key component of Vision 2030, the nation’s economic diversification strategy.The suite of initiatives includes the Grow Tourism Incubator, the Tourism Hackathons and Bootcamps, and the Grow Tourism Accelerator.
These programs target early-stage tourism startups by offering support that addresses their specific needs, such as legal advice, marketing services, and logistical assistance.Saudi Arabia has made significant strides in developing its tourism sector, with a National Tourism Strategy targeting 150 million annual visitors by 2030 — a goal that was surpassed ahead of schedule.
In 2024, the Kingdom welcomed over 116 million tourists, exceeding the yearly target for the second consecutive year.Qusai bin Abdullah Al-Fakhri, CEO of TDF, emphasized the fund's commitment to empowering entrepreneurs and supporting them from ideation to scale.
He stated that practical enablement is key, providing guidance, support, and connections with stakeholders necessary to build a sustainable tourism sector aligned with Saudi Vision 2030.The Grow Tourism Incubator Program is currently in its first edition and is open for registration until July 17th.
It spans 10 months and offers entrepreneurs access to resources such as shared workspaces and specialized training sessions.
These will be delivered both online and at TDF headquarters, ensuring broad accessibility throughout the Kingdom.In parallel, the Tourism Hackathons and Bootcamps program will run for five months in key regions like Asir, Al-Ahsa, and Madinah.
This initiative encourages innovators to develop their ideas through hackathons followed by training bootcamps aimed at turning concepts into practical prototypes.The Grow Tourism Accelerator program has already graduated 99 participants since its inception and is designed for startups looking to scale within the tourism sector.
It attracts international companies, enriching the investment landscape with diverse opportunities that enhance service quality across the industry.These latest initiatives from TDF are expected to significantly bolster Saudi Arabia's tourism startup ecosystem by offering a comprehensive support system ranging from ideation through acceleration.
As these programs take effect, they promise to foster innovation and entrepreneurship within the country’s travel sector.
