Grow Tourism Spaces

Notice:

The Tourism Development Fund ("the Fund") retains the right to alter and/or amend any terms, conditions, or declaration at any time, at its sole discretion, without the need for prior consent from the participant. In the event of such changes, they will be promptly communicated via the Fund's official website, social media channels, or through the email address provided by the participant during their enrollment process.

Introduction:

The Tourism Development Fund has launched the "Accelerator Program" to incentivize entrepreneurs and SME’s enterprises, aiming to bolster the tourism sector within the Kingdom of Saudi Arabia.  

About the Program:

This pioneering program empowers entrepreneurs and startups in the tourism industry by fostering investment-minded thinking, honing entrepreneurial skills, and equipping them with the essential tools and support from specialized mentors and experts in the field.

Accelerator program, spanning three months, includes:

1. Interactive workshops and guidance sessions conducted by industry experts and specialists.
2. Engagements with seasoned entrepreneurs and founders of innovative projects in the tourism sector.
3. Opportunities for investment pitches during a conclusive showcase attended by investment funds and angel investors.
4. Connections with a diverse array of stakeholders from both government and private sectors.  

The content will be accessible both online and in-person at the specified location. 

Commitment:

This document delineates the terms and conditions between the Fund and the program participants, referred to collectively as "Participants" and individually as a "Participant." These terms and conditions, along with the declaration, are applicable to all program participants. Each participant is expected to thoroughly read and comprehend them prior to submitting their application for the program.

Upon acceptance and signature by the participant, this document becomes a legally binding agreement, necessitating compliance with its stipulated terms and conditions.

Firstly: Terms and Conditions

1. Participants must be at least 18 years old.

2. Startup has existing operations in Saudi Arabia or demonstrating commitment to expanding to Saudi Arabia.

3. Startup must be in Seed to Series A.

4. All applications will experience a thorough review and evaluation process to ensure they meet the program's standards.

5. Acceptance is not guaranteed; applications will be critically assessed by the Fund, and decisions are final. There are no grounds for objection if an application is declined.

6. Participants are expected to uphold public decency and professional conduct, avoiding any behavior that contradicts Islamic values or could be considered offensive, violent, discriminatory, or harassing.

7. Participants must refrain from sharing unsuitable content related to the program, its participants, the Fund, the Kingdom of Saudi Arabia, or Islam on social media platforms.

8. All program materials are proprietary to the Fund and/or the program executors and are intended for personal and educational use only. No commercial use or reproduction is permitted. Participants do not hold any intellectual property rights over materials provided by the Fund, the program executors, or other participants, including but not limited to patents or trademarks. 

9. Participants are advised to register their intellectual property with the appropriate authorities before or during their involvement in the program. The Fund is not liable for any intellectual property infringements and will not entertain claims for compensation arising from such violations.

10. The Fund has the authority to use, replicate, publish, or utilize any photographs, videos, and audio recordings of the participant in its marketing campaigns and for other business or non-business-related purposes, contingent upon securing prior approval from the participant. 

11. Information and materials provided during the program are not to be considered as professional advice or recommendations. Participants should seek independent professional advice before making any business or investment decisions. The participant agrees that the Fund and the program executors are not liable for any losses, damages, or expenses that might occur due to the use of or reliance on the program content. 

12. Acceptance into the program does not constitute a promise or approval from the Fund for funding or investing in the participant's project(s), nor does it guarantee any job opportunities.

13. The business ideas and concepts of other participants are confidential. They cannot be disclosed, used, or reproduced without explicit written consent from the respective owners.

14. The Fund may, at its discretion, request additional information or documentation at any time to verify the authenticity of the participant's application and the accuracy of their data.

15. The Fund reserves the right to reject any application that fails to meet the program's terms, conditions, and overall ethos.

16. The Fund may disqualify any participant at any stage if they provide false information, taking any necessary legal actions. 

17. Participants must disclose any existing health conditions — physical or mental— to ensure prompt and appropriate medical responses if needed during the program. Pre-existing health conditions do not automatically lead to exclusion from the program, but relevant information and documentation must be provided. 

18. Participants are expected to fully engage with all program requirements, including tasks, training sessions, assignments, and activities. 

19. Full attendance is mandatory. Participants should be present at least ten minutes before each session starts. Excessive absences (more than two days for virtual sessions or three days for in-person sessions) may lead to termination from the program.

20. Participants must have a computer with Internet access and be in a quiet, undisturbed area for virtual sessions.

21. Cameras must be on during all virtual meetings and activities.

22. Participants must submit and sign all required legal documents for the program. This includes, but is not limited to, the Entrepreneur Participation Agreement, Loan Disclosure, and a Consent Form for Photography. 

23. The participant is responsible for all travel and accommodation expenses, as well as any other associated costs, if they are accepted into phases of the program that necessitate such expenditures. This also includes any costs related to attending the final event, should they advance to that stage. 

24. The Fund does not recognize any current risks, and the participant fully assumes responsibility for their participation in this program and any associated risks, be they legal, physical, or mental. The participant also exempts the Fund from any claims, losses, or damages and absolves the Fund from any lawsuits and liabilities of any nature.

25. The participant agrees to safeguard, indemnify, and absolve the Fund (including its officials, employees, and agents) from all claims, damages, losses, obligations, liabilities, costs, and expenses that may arise due to the participant's breach or violation of any of the commitments mentioned above. 

26. These terms and conditions are subject to and interpreted based on the laws and regulations in the Kingdom of Saudi Arabia.