International Airlines Group (IAG) is launching a second global start-up accelerator to be based in Spain.
The move is the second part of IAG’s Hangar 51 programme, which launched in October last year and led to investment in two start-up companies. More than 450 firms applied to be involved.
IAG, the parent company of British Airways, Aer Lingus, Iberia, Vueling, IAG Cargo and Avios will be working with Cink Emprende, a consulting company specialising in entrepreneurship which is already consolidated in the local ecosystem.
The accelerator will develop new entrepreneurs in a bid to revolutionise the aviation industry and enhance customer experience.
Start-ups from around the world have been invited to join this second initiative, which will be hosted in the Spanish cities of Madrid and Barcelona.
The successful start-ups will receive 10 weeks of intensive industry expert advice from the group’s airlines to develop and test their products. The entrepreneurs will gain access to the airlines’ resources, and the opportunity to receive funding from IAG’s multi-million pound digital investment fund, to scale their business.
The programme will focus on four key categories: data-driven business, automation, connected airline, customer experience, as well as a wildcard entry for a new disruptive idea that can add value for IAG.
Stephen Scott, IAG’s head of global innovation, said: “The first Hangar 51 was incredibly successful, attracting more than 450 applications from around the world. This resulted in IAG creating ongoing commercial agreements with three start-ups and investing in two finalists. We’ve developed an innovative culture where we are able to work with start-ups and take their products to the market. It’s exciting to run Hangar 51 in Spain as we have already seen the value of combining the Group’s industry expertise with the start-ups’ speed and agility.”
Raúl del Pozo, CEO of Cink Emprende, added: “Hangar 51 will give start-ups the opportunity to trial their innovative products and services with great companies and customers giving them feedback and areas for improvement. Experts and senior executives will mentor start-ups to move their products into commercial reality”.
Start-ups can now submit their applications at www.hangar51.com until September 10, 2017.