British Airways owner IAG is on the hunt for more startups as it launches second accelerator programme in Spain

Rebecca Smith
IAG hopes the innovation will help it nose ahead of its rivals
IAG hopes the innovation will help it nose ahead of its rivals (Source: IAG)

British Airways owner IAG is on the hunt for more startups to team up with, after its first accelerator programme Hangar 51 led to the company investing in two of the firms that took part in it.

It announced today the launch of a second programme, which will be based in Spain. This initiative, with consulting company Cink Emprende, will focus on developing startups focused on revolutionising the aviation industry and improving customer experience.

Read more: British Airways owner IAG has just invested in two travel startups

IAG said the programme will be hosted in Madrid and Barcelona, with the successful startups receiving 10 weeks of industry advice from the group's airlines to test and enhance their products.

It wants startups looking at utilising automation to up efficiency, improving customer experience, as well as any disruptive ideas that businesses think will boost IAG's business.

As well as access to the airlines' resources, the entrepreneurs will have the chance to receive funding from IAG's multimillion pound digital investment fund to scale their business.

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 startups and investing in two finalists.

We’ve developed an innovative culture where we are able to work with startups 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 startups’ speed and agility.

The second programme comes after IAG announced its plans to invest in two of the startups from its accelerator programme in April. It plumped for Esplorio, an app that records and shares travel experiences, and Vchain, which authenticates customer data using blockchain tech, and will continue working with them to further develop their products.

Startups can apply for the second version of the programme until 10 September 2017.

Read more: IAG has named the high-flying startups for its first accelerator programme

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