Tourism Development Fund (TDF) launches a new acceleration program to drive innovation and competitiveness in the Tourism sector

Renowned for its thriving tourism sector, Saudi Arabia is making significant strides in foodservice innovation. This sector, a key driver of economic growth and competitiveness in recent years, has propelled the country to become an enticing destination for international investments. Fueled by steady economic growth, a burgeoning population, and evolving consumer preferences, Saudi Arabia boasts a flourishing foodservice market.

In line with this vision, the Tourism Development Fund (TDF) announces the Call for Projects for the Grow Food & Beverage Accelerator. This groundbreaking program is tailored for startups and SMEs pioneering innovative solutions in the FoodService sector. The initiative seeks to catalyze innovation within the Food Service industry, thereby enhancing the competitiveness of the Tourism sector, attracting foreign investments, and fostering entrepreneurship in this dynamic field.

Developed in collaboration with esteemed global partners including The Space, Applied Innovation Institute, IE University, and the leading Foodtech accelerator Eatable Adventures, the program accommodates up to 12 entrepreneurial projects. Key areas of interest include:

• New Food Service Concepts: new restaurant concepts, specialty coffee experiences, snack-cafés & on-the-go, craft and specialty non-alcoholic cocktail bars, late-night food options, as well as fine dining, casual dining, and fast-food restaurants that innovate in their value proposition.

• Improving Hospitality: groundbreaking solutions that cater to room service in hotels and event catering for conferences, meetings, events, and other gatherings. 
• Automated Foodservice: innovative proposals in the realm of smart vending, including vending machine management software or robotics.
• Delivery Services: revolutionary solutions in the area of food delivery platforms and restaurant aggregators, covering delivery logistics and packaging.
• Applied Tech & Restaurant Operations Improvement: innovations for consumer experience enhancement, demand prediction, back-office management, and logistics that could help the foodservice sector operations to improve. 

The program provides startups and SMEs a distinctive chance to accelerate their growth in a dynamic market, forging connections with industry leaders and unlocking investment opportunities. Participants will benefit from high-level training with more than 20 group sessions, expert mentorship, access to a global entrepreneurial ecosystem, unmatched international exposure, and potential investment avenues.

Startups and entrepreneurs interested in this pioneering program can apply here until March 17.