An innovative fund has been created by Travellanda to help young companies succeed in the online travel industry by providing essential finance and expert business support.
The Travellanda Business Support Fund was initiated to assist new and existing business, within the travel sector that would like help with the transition from a traditional offline business to a modern online business. There is a huge demand for businesses to offer services through digital channels. However, many young companies without the skills and experience, can find it to be a daunting process.
It is becoming increasingly more challenging for younger travel companies to succeed. Technology is moving at tremendous speeds, so startups and new businesses often find it difficult to know where to start. It can also become very costly to develop new systems. Travellanda, at its heart is a travel technology company. It has been developing its own systems since its inception in 2011. It therefore, decided to create this new fund to help non-technical businesses ‘get online’.
The support fund is designed to help startups and new businesses by providing financial support of up to US$100,000 to help their company grow. In addition, Travellanda will provide expert business support and advice on how they can achieve their goals. Travellanda say that they will help provide full training on how to run an online travel business, it will also provide the technology and consultation on whatever the company needs.
Travellanda Head of Online, Arzu Sutcu, said: “Our tagline is ‘Believing in Partnerships’ and that’s exactly why we decided to start this programme. We have the expertise and means to help others, so we thought it would be great to give something back. In this economic climate, it is increasingly more important for businesses to collaborate with each other. We just want to keep the travel industry pumping for the smaller players and as a result, provide a lot more choices to the end customer. And that, should be the focus.“