Saudi Arabia is rapidly emerging as a global tourism hub. At the forefront of this transformation is the Tourism Development Fund (TDF), the national enabler of the tourism sector. Recently, TDF celebrated a significant milestone—the graduation of the first cohort of the “TDF Grow Accelerator” programme. This event, held at the KAFD Conference Centre in Riyadh, marked a pivotal moment in the Kingdom’s journey toward becoming a top global tourism destination.
A Milestone Event: The Demo Day
Firstly, the demo day was more than just an ordinary event. It served as a showcase of innovation and entrepreneurial spirit. The ceremony highlighted the accomplishments of 15 startups within the tourism space. Notably, this included 11 local startups and four regional and international projects. Each of these startups underwent a rigorous training and guidance process. Specifically, they participated in over 20 training sessions. These sessions equipped them with the necessary skills and knowledge to excel in the competitive tourism industry.
Investment Success: A Testament to Innovation
Moreover, the success of these startups extended beyond their participation in the programme. To date, they have collectively attracted investments exceeding $5 million (SAR 18 million). This impressive figure demonstrates the confidence investors have in these projects. It also underscores their potential to significantly impact the Kingdom’s tourism sector.
Leadership Acknowledgment: Commitment to Excellence
During the ceremony, TDF’s CEO, Qusai Al-Fakhri, delivered a powerful message through His Highness Prince Saud Bin Mohammed, Executive Director of TDF Grow. He emphasized how the TDF programs foster innovation and sustainable development in Saudi Arabia’s tourism sector. Additionally, he expressed immense pride in the startups’ achievements. He remarked, “We are proud of what these distinguished startups have accomplished during their journey within the TDF Grow Accelerator Programme.” This success reflects TDF’s unwavering commitment to supporting entrepreneurial ideas. It also highlights the importance of implementing the national tourism strategy effectively and reinforcing Saudi Arabia’s position as a global tourism destination.
The Journey: Accomplishments and Future Prospects
Furthermore, the ceremony provided a platform to review the programme’s accomplishments over several months. The 15 participating projects, including both local and international startups, showcased their contributions to creating added value within the Kingdom’s tourism sector. The event concluded with a presentation that highlighted the innovative tourism projects emerging from the programme. This presentation offered a glimpse into the future of tourism in Saudi Arabia.
TDF Grow Accelerator: Empowering the Future
It is important to note that the TDF Grow Accelerator Programme is more than just an initiative. It acts as a cornerstone in Saudi Arabia’s tourism development strategy. By empowering entrepreneurs in the tourism sector, TDF Grow provides essential support. It helps create innovative technical solutions, facilitates communication between startups and investors, and encourages the best tourism ventures to contribute to the Kingdom’s national tourism objectives.
In conclusion, as Saudi Arabia continues its journey toward becoming a leading global tourism destination, initiatives like the TDF Grow Accelerator will play a crucial role. The success of the first cohort is just the beginning. With continued support and investment, the Kingdom’s tourism sector is set for unprecedented growth.
for more news and insights , stay updated with our daily blogs !
