Tourism Businesses on Runway to New Growth Opportunities.

May 26, 2021

A group of tourism businesses doing it tough as a result of COVID-19 have recently learnt to apply new skills finding growth opportunities – thanks to a training program provided by business innovation specialist Runway, working in partnership with the Victorian Tourism Industry Council (VTIC) and the Victorian Government.

“The tourism industry is having a really tough time as a result of COVID, and we’ve seen entire markets change or disappear overnight leaving many tourism businesses in a crisis situation” says VTIC’s Industry Program Manager, Michelle Dall’Ava.

“VTIC’s Tourism Business Think Tank program is a key response to this. Working with Runway we are helping to build the capability of operators in tourism to find new ways to adapt, pivot and grow their businesses” she continued.

Runway is a not-for-profit that specialises in helping entrepreneurs to be successful; and in this program is assisting tourism businesses to…

  • complete a health check of their current business environment
  • understand the key challenges and new opportunities for their business, and
  • begin to develop business growth or pivot plans in response.

The program is being facilitated online in cohorts of up to 10 participants to maximise engagement, knowledge sharing and experiential learning that is immediately and directly relevant to them. It includes five two-hour sessions, with a similar amount of homework in advance of each session, delivered over two weeks.

“Using the proven skills and techniques applied by successful start-ups and scaleups from all over the world, participants are learning how to systematically find new growth opportunities” says Runway’s Head of Partnerships and Professional Services, David Spear.

“They are also learning how to overcome barriers to growth, and to test their emerging growth plans in a way that reduces the risk of investing time and money into new ideas that may not yet be well proven’ he continued.

So far, 24 businesses have progressed through the first stages of the program with 80% surveyed rating it as excellent or good (50% rating it as excellent).

Current participants will now be asked to apply for a limited number of places in the next stage of the program, where they will deepen their development of the customer value proposition for their new growth opportunity, and their action plan for testing it in the real world – commencing in June.

To get involved in future VTIC Tourism Business Think Tank programs, or for more information, please contact Michelle Dall’Ava at VTIC on mdallava@vtic.com.au or David Huggan at Runway on david@runwayhq.co