Partner Article

BA's parent company has invested in a blockchain startup and travel journal app

International Airlines Group (IAG), the parent company of British Airways, has brought its inaugural Hangar 51 accelerator to a close with investment in two cohort companies.

Five companies were initially selected from over 450 startup applications for IAG’s first-ever accelerator initiative to spend ten weeks at the group’s headquarters in London working on projects and gaining insight from the aviation company’s mentors and experts.

With Hangar 51 drawing to a close, London’s Esplorio and Vchain have been selected as the two startups who will continue to work with the firm and will also receive an undisclosed amount of funding for IAG’s digital transformation investment fund.

London and Tel Aviv-based Vchain, which was founded by a former Oxford graduate, has developed a digital identity system based on the blockchain which, amongst other uses, can help to identify and instantly correct passenger information errors which would currently have to be manually corrected at the airport.

Esplorio on the other hand is an app which allows travellers to easily share their travel experiences by automatically tracking routes and uploading photos to a travel journal with minimal interaction from users.

Following the closure of the programme, Stephen Scott, IAG’s head of global innovation, commented: “Hangar 51 has been a fantastic opportunity to work on business challenges together, combining IAG’s industry expertise with the start-ups’ speed and agility.

“The two companies we are investing in have the potential to add great value, rich content to our customers and operational efficiencies. This has been our first global accelerator programme and it will definitely not be our last.”

Both startups will continue their work with IAG with Vchain working on live tests for a full commercial product as well as working with the airline group on its IATA One Identity Programme to support its adoption of biometric and digital identification systems.

Esplorio, meanwhile, will build on its project working with IAG cabin crew to develop and publish travel journals by looking at ways the content can be utilised for British Airways’ Executive Club and other in-flight content for travellers.

Want your business, product or service to be seen regionally and nationally? Bdaily helps you get your story in front of the right audience, every day. Find out how Bdaily can help →

Join more than 55,000 subscribers by signing up to our daily bulletin each morning here.