RIYADH: Saudi Arabia’s Tourism Development Fund has launched TDF Grow to support entrepreneurs and small and medium-sized enterprises, the state-run SPA news agency said on Monday.
It aims to drive innovation, nurture talent, provide appropriate tools and environments for entrepreneurs, and help them establish tourism startups.
TDF Grow aims to offer high-value services and establish a partner network by creating communication channels with the business sector of the tourism industry.
By connecting startups with investors and partner institutions across the public and private sectors, the center will streamline processes to support and empower tourism establishment owners in the Kingdom to facilitate their expansion and expedite growth, ultimately attracting new investors.
TDF Grow will launch five pioneering programs that meet the needs of entrepreneurs and SMEs in various fields in the tourism sector and will also organize events and workshops.
It will also feature the Tourism Growth Accelerator program, which supports SME growth in the tourism sector. It includes business development services, consulting, guidance, and facilitating access to investors.
The program works to graduate 15 SMEs through the Tourism Growth Camps, which aims to support entrepreneurs in developing their ideas and projects and consists of three different training camps, as well as producing 60 successful business models.
Meanwhile, the Restaurants and Cafes Growth Accelerator, which is dedicated to SMEs in the field of restaurants and cafes, also offers similar services and aims to graduate 15 enterprises.
TDF Grow will also offer various training programs that provide direct e-learning opportunities in the tourism sector and will include prominent topics and training sessions on the latest developments in the sector. The programs will target 100 participants in each session.
These programs aim to enhance innovation and growth in the tourism sector and provide the necessary support to entrepreneurs and SMEs in the field.
The initative’s launch is part of TDF’s commitment to stimulating investment in the tourism industry, enhancing the readiness of entrepreneurs and SMEs, and accelerating the pace of work in the Kingdom’s tourism sector in line with the National Tourism Strategy and Saudi Vision 2030.
