The Tourism Development Fund (TDF), Saudi Arabia’s national enabler for the tourism sector, has concluded the second edition of its “Tourism Growth Accelerator” program with a Demo Day in Riyadh. The event, organized by the fund’s non-financial arm, the Tourism Growth Center, showcased 17 emerging startups to a select audience of entrepreneurs, investors, and representatives from government and private sectors. The program was sponsored by the Arab National Bank and the National Technology Development Program.
Fostering Innovation for Vision 2030
Qusai bin Abdullah Al-Fakhri, CEO of the TDF, expressed his pride in the program’s success and its tangible impact on supporting entrepreneurs and startups. “We are proud today of the innovative ideas and projects presented by entrepreneurs and startups, which reflect the vitality of our tourism sector,” said Al-Fakhri. He reiterated the Fund’s commitment to empowering promising talent and creating a sustainable tourism environment, aligning with the goals of the National Tourism Strategy under Saudi Vision 2030.
Demo Day Highlights
The Demo Day provided a platform for the 17 participating startups to present their diverse tourism projects spanning technology, hospitality services, and innovative visitor experiences. An accompanying exhibition allowed investors and attendees to engage directly with the founders, explore new tourism solutions, and discuss potential partnership and expansion opportunities. The event highlighted the growing sophistication and specialization within the Kingdom’s travel and tourism startup scene.
Driving Ecosystem Growth
The Tourism Growth Accelerator is a key initiative of the Tourism Growth Center, which works to empower entrepreneurs through specialized programs including accelerators, hackathons, bootcamps, and an incubator. The Center’s various programs have benefited more than 9,000 entrepreneurs and graduated over 100 companies that are now active in the market. To date, projects supported by the Center have successfully attracted over SAR 30 million in investments, demonstrating the significant economic impact of these ecosystem-building efforts.
About The Tourism Development Fund
The Tourism Development Fund (TDF) was established in 2020 to be the key enabler of tourism development in the Kingdom of Saudi Arabia. With a capital of $4 billion, TDF aims to drive the growth of the tourism sector by providing financing and non-financing solutions to investors. Through initiatives like the Tourism Growth Center, the TDF actively supports entrepreneurs and small and medium-sized enterprises to foster innovation and contribute to the objectives of Saudi Vision 2030.
Source: Ajel
