JetBlue's investment arm has teamed up with El Al's investment arm to create an aviation technology accelerator for travel startups.
Startups worldwide (that are either before or in a seed-round stage) can apply to join accelerator, called Navigator. Applications for the first class are being accepted through September 2. The class starts in late October.
Selected companies will work for three months at an accelerator run by Cockpit Innovation Hub, the venture capital arm of El Al, and another month at the offices of JetBlue Technology Ventures in Redwood City, Calif., where they will have chances to be introduced to investors.
After the program, startups that gain traction with customers will be offered eight months of support, such as with workspace and mentoring in Israel or California.
Navigator will also offer $50,000 in initial financing in exchange for a slice of ownership in each startup.
Mor AviHanan, head of venture development at Cockpit Innovation Hub, said by email:
"We are targeting travel and aviation related startups. But, though we're focusing on aviation and travel, we also welcome start-ups that offer technology and solutions to other industries and would like to enter our world."
Potential customers include airlines, airports, and aerospace manufacturers.
Criteria for being accepted is posted at the f6s.com/navigator hub for incubators and accelerators.
Not surprisingly, a requirement is that the entrepreneurs bring significant innovation to the aviation and travel industry. Teams also must have at least two cofounders.
More details about Navigator are listed at the Cockpit's website.
Bonny Simi, president, JetBlue Technology Ventures, said in a statement:
"By combining a wealth of aviation and technology expertise with actual platforms and connections to incubate ideas within the airline industry, we are perfectly positioned to directly help startups shape the future of the travel."
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