Two funding pots, totalling £2.5 million over two years, are available for projects linked to Visit Wales’ Year of Legends in 2017 and the Year of the Sea in 2018.
The tourist board is urging the Welsh tourism industry to apply for grants from the funds, which aim to help the private and public sector “develop and deliver innovative products”.
It said there will be a focus on supporting the private sector to develop “big ideas, projects which can make a real difference in making Wales a must-visit destination and give people compelling reasons to visit Wales”.
“We hope to see some new ideas that can help drive the year to be as great a success as the Year of Adventure in 2016,” said Visit Wales in a statement.
“Looking forward to the Year of the Sea in 2018, we need to challenge perceptions with new innovative 21st century products, events and experiences that tell the fantastic stories of our various coastal destinations.
“Our aim for the year is to celebrate Wales’ epic coast in order to make Wales a stand-out UK destination.”
Both the Tourism Product Innovation Fund (TPIF) and Regional Tourism Engagement Fund (RTEF) are now open for applications.
The closing date for the first round of applications is February 24.