JetBlue Technology Ventures (JTV), the venture capital subsidiary of US low-cost carrier JetBlue Airways, has launched an international innovation partnership with Air New Zealand.
JTV, a Silicon-Valley-based subsidiary of the New York-based parent airline, “incubates, invests in, and partners with early-stage start-ups at the intersection of technology and travel” a statement issued yesterday said.
JTV and Air New Zealand will boost travel industry innovation by working together “to build an internationally recognised technology innovation ecosystem that will seek out, partner and implement emerging technologies in the travel sector”.
So what is a “technology innovation ecosystem”? There are various clues, if you can carve through the jargon.
For Air New Zealand, the partnership “will offer early access to emerging technologies as well as an entrance into the Silicon Valley innovation ecosystem”, the statement says.
For JTV, the new partnership will “expand the opportunities for existing and potential portfolio companies, as well as other startup partners”.
The statement continued: “Together the two companies, along with future partners, will build a network to better address changes coming to the travel industry as well as improve efficiencies within the existing infrastructure.”
It all sounds a trifle vague, but it’s early days.
Air New Zealand chief executive Christopher Luxon said Air New Zealand was one of the most innovative airlines globally, with a proud reputation “for nimbly being able to seize opportunities and take these to market.
“We have been growing a terrific ecosystem of global partners as we seek to redefine the future of air travel. Partnering with JetBlue Technology Ventures is an important step in achieving that goal.”
JTV expects to announce other travel and hospitality partners to join its ‘ecosystem’ in coming months.
“All partners will co-locate an innovation outpost in the JTV Silicon Valley location, creating a compelling ecosystem for startups in the expanding JTV portfolio of innovative startups.”
In translation, that presumably means the partners will work with JTV in Silicon Valley.
Written by Peter Needham
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