If you are going to take on the challenge of introducing west coast entrepreneurial ideas to an east coast parent, then having a mindset to look across functions and different problems is helpful.
Bonny Simi, president at JetBlue Technology Ventures (JTV), said: “We are successfully forging new territory with our CVC structure, by having a member of our team imbedded in JetBlue in New York, while we also run our CVC as a separate subsidiary in Silicon Valley. This ambidextrous structure is helping us ensure alignment with mothership, while also allowing us to move quickly in the Valley.
“Anna Schiller, program manager at JetBlue Technology Ventures, is a rising star for our team, because she is able to manage the delicate balance of introducing new concepts into the corporate parent, without distracting them too much to create friction. We are thrilled with the progress we have made in relationship with our parent company – thanks to Anna. She has helped us move to proof-of-concept on several potential investments, which speeds up the adoption cycle dramatically.”
Schiller moved over to JTV in September from product development at JetBlue where I managed the technology and entertainment experience on a plane, such as introducing free wifi or Amazon Prime video.
She said: “Because we are a strategic arm of JetBlue, we are often looking at companies that may not fit in strictly with the objectives of a team’s work at that very moment. We are looking at innovation two to five, to sometimes 10 years down the line.
“One of our challenges has been the balancing act of getting our various internal stakeholders be comfortable with the fact that certain startups/companies may not have direct impact on their operation now, while also helping them realise the value and advantages to them down the line. Fortunately, we have very high level support from our CEO and board of directors.
“Because our approach is somewhat unique in the CVC world, we have been able to show our value very early on in our life cycle which has contributed to our success. We operate both as a financer and strategic partner, which allows us to share our knowledge and brand name with the startups and also bring innovative offerings to the airline which has tangible effects on the way we run our business and operation.”
Prior to JetBlue and after studying interdisciplinary studies, design, at University of California Berkeley, Schiller said she held strategy and marketing positions at e-commerce and tech startups, was an early member of the team at Gilt Groupe and also worked in journalism early in my career.
And the future could see her crossing over from investor to entrepreneur. “I am very interested in the entrepreneurial track. I am getting exposure to incredible founders and investors, am able to dive deep into the industry and get exposure at a macro-level to the ways in which successful and not-so-successful businesses operate. At some point in my career, I would like to run and grow my own company.”