It’s been more than two years since we landed in Silicon Valley. Since February 2016, we have built an incredible team, identified and reviewed over 2,500 start-ups and are averaging 8–10 investments per year. Today, we are excited to debut our new video, highlighting the inspiration behind why we started JetBlue Technology Ventures (JTV) and some examples of how we support our portfolio companies.
Sure, JetBlue has flights to Silicon Valley (via San Francisco, San Jose and Oakland), but we also expanded our wings into the startup ecosystem via JetBlue Technology Ventures. We are very appropriately based at a local airport right in the middle of Silicon Valley — San Carlos Airport. Our mission is to invest, incubate and partner with early stage startups at the intersection of technology and travel.
Innovation is part of JetBlue’s DNA: Our greatest hits include Live TV in the sky, free high-speed wifi, at-home call centers, awesome new “Mint” service that showcases JetBlue’s amazing customer service. Today, we work with the next generation of game-changing companies to fuel even more innovation at JetBlue, through partnerships with our portfolio companies. Through JTV, we are able to not only invest in start-ups, but introduce them to JetBlue as a potential customer. We’re building upon our award-winning customer experience with Gladly, improve operational efficiency with Climacell and Lumo, and revolutionizing the revenue management and payments space with FLYR and Sipree. We are looking to transform the entire travel industry (well beyond just airlines.)
Capturing Crazy Ideas
We’ve immersed ourselves in the startup scene like no airline has done before. Our small, but nimble group is empowered to make decisions and embrace ideas that may seem crazy in today’s paradigm but will become mainstream in the future.
For customers, we are finding technology solutions that provide a seamless travel experience in contrast to the fragmented, often-frustrating journey travelers often face today. On the enterprise side, we are investing in solutions that empower our crewmembers to provide even more magnificent service. We are also finding new modes of transportation through startups such as Zunum and Joby Aviation.
The companies we partner with don’t focus exclusively on aviation. We’re interested in all parts of the travel spectrum. We’re looking at how hotels can optimize occupancy throughout the day with Recharge, how tourists can easily book regional travel in an unfamiliar city with Mozio, and how blockchain and IoT can be deployed in machinery in far-flung locales to detect and report mechanical problems before they start with Filament. While we think about today’s business, we’re also looking beyond the horizon. How can we make the entire travel experience enjoyable, effortless and efficient, now and in 10 years?
Figuring Out “The What”
As a “corporate venture capital” firm, we provide the best of both worlds to all our portfolio companies and the travel tech ecosystem as a whole. We combine the financial support of venture capital with the industry expertise of a Fortune 500 company.
We engage with startups in three ways. We recommend some companies to JetBlue for proof-of-concept testing to help them validate their product. Some we take under our wing, incubating them and offering mentorship that helps them grow. And for up to a dozen or so startups each year, we also invest.
Because we’re working so closely with startups, we want to be sure they fit with the JetBlue culture that is grounded in our values of Safety, Caring, Integrity, Passion and Fun. In addition, they should possess passion, grit, and an innovative and can-do spirit, which is the culture we’re fostering at JetBlue Technology Ventures. So as we evaluate startups, we get to know their leadership. We care deeply about the founders and their mission. When we invest in a company, we invest in “the who” more than “the what.” It’s the people behind the pitch deck who are more important than the cool technology or business model. After all, many startups will pivot a few times before settling on the perfect business model or product, and we are there every step of the way.
We can’t wait to see what other promising startups are around the corner. If you know of a startup we should look at, please send information here.
