US-based airline operator JetBlue launched a corporate venturing subsidiary yesterday that will incubate, partner and invest in early-stage companies developing technology products for the travel and hospitality sectors.
JetBlue Technology Ventures will be located at the GSVlabs incubator in Silicon Valley, and will seek out partnerships with incubators, VC firms, academic institutions and other organisations both inside and outside of Silicon Valley.
The unit will particularly concentrate on startups that are creating products to improve customer and crew member experiences, boost its operational efficiency and help its parent company enter new markets. JetBlue has not disclosed how much capital it has provided for the subsidiary.
JetBlue Technology Ventures will be led by president Bonny Simi, previously JetBlue’s vice-president for talent, who has also been a pilot with the airline since 2003.
Simi will report to Eash Sundaram, executive vice-president and chief information officer of JetBlue, who will head the corporate venturing arm’s oversight and advisory committee.
Simi said: “Innovation has always been part of JetBlue’s DNA, and JetBlue Technology Ventures builds on our history of staying a step ahead of the status quo.
“We will be casting a wide net to find technologies across the travel spectrum that further the award winning customer-focused experience we are known for. The work being done today in the startup community will define travel for years to come.
“We can offer our knowledge and resources to bring early-stage ideas to life. We will not limit our thinking to traditional airline operations, and instead consider possibilities at every stage in the travel experience.”