Global travel technology firm Amadeus has unveiled plans to expand its startup investment programme, Amadeus Ventures, by investing in early stage travel technology startups across Asia-Pacific in 1Q2020.
Amadeus Ventures provides funding, industry expertise, technology and customer reach to its portfolio companies.
Since its launch in 2014, Amadeus said that it has introduced more than 150 startups to its business units and has developed more than 20 joint projects with its portfolio companies. Companies already in its investment portfolio include Refundit, Volantio and Dawex.
“Our main aim in expanding Amadeus Ventures across Asia-Pacific is to encourage and nurture innovation in the travel industry. Startups struggle to gain competitive advantage against large enterprises and if they do, a lot of the time, they don’t know how to navigate through the landscape. We not only offer funding but also our industry expertise and network to help young start-ups achieve their strategic and commercial goals,” said Suzanna Chiu, head of Amadeus Ventures.
As it eyes expansion in Asia-Pacific next year, Amadeus Ventures has also appointed Stephanie Strunk as its representative in the region, tasked with searching for the latest innovations in travel technology startups.
“Travel startups across Asia-Pacific are frequently disrupting the industry, challenging the way we think about innovation. To keep up with the pace of change, funding for travel startups is increasing at the same rate – reaching record highs. With China leading in this space, we don’t expect the rest of Asia-Pacific will be that far behind, working on new solutions and ideas to enhance the overall traveller experience,” said Strunk.