The Tourism Development Fund (TDF) has celebrated the conclusion of the first cohort of the Tourism Growth Incubator in Riyadh.
This initiative, led by the Tourism Growth Center in strategic partnership with Almosafer, concluded during a dedicated forum for entrepreneurs and investors. Notably, the event attracted a group of investors, government representatives, and private sector leaders.
Graduation of the First Cohort
The program aims to strengthen the entrepreneurship environment within the tourism sector. Specifically, it provides startups with specialized mentorship, business development, and direct connections to strategic partners. This support aligns with the objectives of the National Tourism Strategy and Saudi Vision 2030. Meanwhile, the program helps refine business models to meet market demands.
The program was launched in strategic partnership with Almosafer, a prominent travel brand in the region. This collaboration highlights the importance of public-private partnerships in driving sectoral growth.
Detailed Support and International Exposure
During the ten-month program, the Tourism Growth Incubator supported 30 startups.
The physical track hosted 20 companies, while the virtual track accommodated 10 companies. This dual-track approach ensured wider accessibility for entrepreneurs across different regions of Saudi Arabia. Furthermore, the participants benefited from more than 230 business development sessions, 20 specialized workshops, and 30 service grants.
In addition, the program included an international visit to the H-Farm center in Italy. This visit allowed entrepreneurs to study global best practices in entrepreneurship. Consequently, the experience helped prepare their projects for future growth and expansion. It also provided insights into international tourism trends.
Impact of the Tourism Growth Incubator
“The incubator represents a practical model of the fund’s role in enabling startups and entrepreneurs in the tourism sector by providing them with specialized knowledge, guidance, and networking opportunities.”
Qusai bin Abdullah Al-Fakhri, CEO of TDF
Meanwhile, the Tourism Growth Center continues to play a role in developing the local tourism environment. To date, the center has enabled more than 14,000 beneficiaries through various non-financial programs. These initiatives aim to accelerate project growth and connect startups with promising opportunities in the economy. Furthermore, they help integrate modern technologies into traditional hospitality services.
Future Outlook for Tourism Startups
The incubated startups spanned diverse fields, including tourism technologies, digital platforms, visitor experiences, and cultural heritage. Additionally, some projects focused on artificial intelligence solutions. Ultimately, the Tourism Growth Incubator aims to encourage sustainable economic and social impact across Saudi Arabia.
