Amadeus Ventures, an innovation vehicle to drive collaboration with the startup ecosystem, will launch in APAC in Q1 2020, investing in early-stage startups sitting at the crossroads of technology and travel, giving travel startups in Asia a shot in the arm.
According to Google’s e-Conomy SEA 2019 report, more than $37 billion of capital has flowed into the Internet economy over the last four years. While the majority has gone to e-commerce and ride-hailing unicorns, over $7 billion in investment funding went to more than 3,000 Internet economy startups in the last four years in South East Asia.
China is also driving ahead of Silicon Valley and the rest of the United States on venture capital dollars invested into startups. It is also the world’s most funded company in terms of travel and mobility tech.
The funding support for startups signals the strong potential the region holds for investors in the long term, said Amadeus in a statement.
Since its inception in 2014, Amadeus Ventures has introduced more than 150 startups to its business units and has developed more than 20 joint projects with its portfolio companies. Its portfolio continues to grow by three to five companies every year. Companies already in the investment portfolio include Refundit, Volantio and Dawex.
“Our main aim in expanding Amadeus Ventures across APAC 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.
“It’s a ripe market to be a start-up in, and given the global scope of our business, we are on the search for business ideas and models that can be scaled across borders. We’re looking forward to working closely with all types of startups across APAC and offering them access to our global network of customers and expertise to develop commercial relationships.”
Stephanie Strunk will be the Amadeus Ventures representative for the region, searching for the latest innovations in travel technology startups.
“Travel startups across APAC 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 APAC will be that far behind, working on new solutions and ideas to enhance the overall traveller experience,” said Strunk.
Startups who are interested in finding out more about Amadeus Ventures can fill up this form on the Amadeus website.
Featured image credt: Getty Images
