Skift Take
To quote venture capitalist Alexia Bonatsos, "Travel startups are about to have a moment."
Technology gives the travel sector a chance to retool itself, and many startups could help the industry make the most of its coming, phased recovery from the pandemic.
Yet there's a problem. Startup founders may be inventive technologists, but they often lack a grasp of the travel sector's commercial contours. Naivete and inexperience can open a chasm between startups and corporate customers, preventing many travel companies from widely adopting innovations.
Today's investors take risks by betting on quixotic-sounding ideas that could become a reality thanks to capital. But venture capitalists need to do more to help entrepreneurs build bridges to executives at travel brands. They need to serve as mentors, passing along to founders their acquired knowledge about how the travel sector works.
That's the view, at least, of Team ABC, the latest venture capital fund to launch with a specific mission of investing in the travel and transportation industry.
"We want to bring coaching to the table along with capital because we see it as a missing ingredient," said Aurelius Noell, a general partner at Team ABC.
"Coming from aviation into this venture industry, I was surprised," said Noell, the former chief commercial officer at Level Airlines and Viva Air. "A lot of venture outfits promise to invest more than capital, but then the reality is different. Many founders are left wondering how to dis
