IATA opens up a $5M NDC Innovation Fund for distribution companies
Today at its annual conference, the International Air Transport Association (IATA) said it was creating a stand-alone venture capital fund, the NDC Innovation Fund.
The fund is jointly run by Travel Capitalist Ventures, a private equity and venture capital firm specializing in travel industry investments, such as in the startup Guiddoo, which makes mobile audio visual guides.
It's not just an airline-focused fund. Instead, the fund claims to support companies working on the distribution of hotel, rental car, cruise, and tours-and-activities products, too.
The fund plans to invest in small- and medium-sized companies, such as travel content, travel e-commerce sites, travel hubs, travel technology companies, travel apps, and software as a service firms, working on technical solutions that use IATA's New Distribution Capability (NDC) standard.