Saudi Arabia’s Tourism Development Fund (TDF), the key driver of the country’s tourism sector, recently celebrated the inaugural cohort of its “TDF Grow Accelerator” program at the KAFD Conference Centre in Riyadh.
The event marked the graduation of 15 startups in the tourism industry, comprising 11 local ventures and four from regional and international origins. These startups benefited from over 20 training and mentorship sessions and have collectively attracted more than $5 million in investments to date. The demo day and accompanying exhibition, organized by TDF, drew a diverse audience including investors, entrepreneurs, media, and other stakeholders interested in tourism investments.
During the ceremony, TDF CEO Qusai Al-Fakhri highlighted the role of TDF’s programs in fostering innovation and sustainable development within Saudi Arabia’s tourism sector. His Highness Prince Saud Bin Mohammed, Executive Director of TDF Grow, delivered this message on behalf of the CEO. Prince Saud expressed pride in the startups’ accomplishments and emphasized that their success underscores TDF’s commitment to nurturing entrepreneurial ventures that advance the national tourism strategy and enhance the Kingdom’s global tourism reputation.
The event also featured a review of the program’s achievements over several months, during which the participating startups engaged in extensive training and guidance. These startups not only added significant value to Saudi Arabia’s tourism sector but also secured investments totaling over SAR 18 million. The ceremony concluded with presentations showcasing the projects involved in the program.
The TDF Grow Accelerator Programme is designed to empower tourism entrepreneurs by providing support for developing innovative solutions, facilitating connections with investors and industry leaders, and promoting top startups that align with the national tourism goals.
