With the mission to represent, lead and serve the airline industry, recently the International Air Transport Association (IATA) partnered with Travel Capitalist Ventures, a leading travel-focused investment firm, to create the NDC Innovation Fund which will be investing in startups working in travel space either Consumer or Business-to-Business.
Tony Tyler, Director General and CEO of IATA said, “Airlines and travel agents will require tools and applications to manage this content. While we have every confidence in the abilities of existing players, IATA and Travel Capitalist have created the Innovation Fund to help spark creative solutions even more broadly.”
The fund will invest in startups in Travel content, travel ecommerce sites, travel hubs, travel technology companies, travel apps, software as a service and all other NDC enabling companies across all travel products (air/hotel/car/cruise/activity) are of interest to the Fund.
It will be investing in startups in or close to Montreal, Geneva, Los Angeles, San Francisco, Dubai, Johannesburg, Delhi/Bombay, Singapore or Hong Kong.
The fund will invest between $500k – $1M USD in startups in exchange of equity. It will invest in Pre-product (20%) seed stage investments to (80%) post product Seed or Series A.