Corporate Partners Program aims to support the ecosystem by helping startups access industry and innovation professionals.
Velocity Ventures, a prominent investor in travel and hospitality tech in Southeast Asia, is spearheading an initiative to address the challenges faced by the various sectors in the industry. The company has introduced a subscription-based Corporate Partners Program (CPP) that enables corporates in the travel and hospitality industry to leverage thousands of startups and invest in innovative tech solutions. With a focus on five technology verticals, including Food & Beverage, Travel Experiences, Accommodation, Transportation/Mobility, and Travel Services, Velocity Ventures aims to foster an open culture of innovation and collaboration.
Traditionally, players in the travel industry, such as airlines, hotels, and online travel agencies, have operated independently, limiting the potential for innovation. Velocity Ventures’ CPP aims to bridge this gap by offering a platform for corporates to access a diverse portfolio of startups, gain valuable insights, and engage in co-investments and acquisitions.
Their CPP initiative aims to address key challenges, including labor shortages, digitalization and data leverage, decarbonization and sustainability, demand forecasting, technology integration, and evolving distribution models. The program also facilitates a comprehensive comparison of product solutions from various startups and offers insights into disruptive trends through events and reports by Velocity Ventures.
Through the Corporate Partners Program, Velocity Ventures seeks to facilitate collaboration between founders and corporates, promoting innovation within the travel and hospitality sector. By combining investments and partnerships, the program aims to provide the necessary support and “heartware” required for corporates to adapt and thrive in the rapidly evolving digital landscape. Nicholas Cocks, Managing Partner and Co-Founder of Velocity Ventures, emphasized the program’s potential for corporates to solve specific pain points and achieve long-term benefits, including strategic acquisitions.
The CPP offers three different subscription tiers – Lite, Core, and Pro – providing flexibility for corporate partners to choose the level of engagement that suits their needs. Through the program, corporates can unlock several benefits, including access to a wide range of startups offering innovative solutions to address sector-specific pain points. They can evaluate product offerings, founders, and viability before committing to partnerships.
Since its inception in 2020, Velocity Ventures has backed startups such as Aigens, Carbon Click, Food Market Hub, Zuzu Hospitality, and ZYTLYN, collectively generating a Gross Merchandise Value (GMV) of US $2.5 billion. The firm’s corporate partners include industry leaders such as Etihad Airways, Lufthansa Innovation Hub, Goldbell Group, The Lo & Behold Group, Old Chang Kee, RB Capital, Global Hotel Alliance, and Klook. Velocity Ventures also collaborates closely with accelerators like Singapore Tourism Accelerator, Korean Tourism Office, and Malaysia Digital Economy Corporation, annually reviewing over 400 travel-tech startups.
Founded by A. Patrick Imbardelli, former CEO of Pan Pacific Hotels and InterContinental Hotels Group (APAC), and Nicholas Cocks, an entrepreneur turned investor, Velocity Ventures brings over 30 of investing experience and a combined transaction and investment portfolio worth over US $2.2 billion.
Velocity Ventures conducts rigorous due diligence assessments using their proprietary “6 Factor Analysis” before engaging with any startup, ensuring the highest standards of quality. Through tailored events, corporates can stay abreast of the latest innovations and work closely with selected startups to modernize legacy processes and enhance operational efficiency.
Alongside startup access, the Corporate Partners Program provides corporates in the travel and hospitality sector the opportunity to establish an outsourced Corporate Venture Capital (CVC) unit, managing a dedicated pool of capital for investments. This enables corporates to take advantage of the network and expertise of Velocity Ventures while maintaining control over investment decisions.
