SINGAPORE – Technology provider Amadeus announced it is expanding its startup investment programme, Amadeus Ventures, in Asia Pacific from Q1 of 2020.
Our main aim in expanding Amadeus Ventures across APAC is to encourage and nurture innovation in the travel industry,– Suzanna Chiu, Head of Amadeus Ventures
The programme, which invests in early-stage startups in technology and travel, was first launched in 2014. The venture also supports startups with industry expertise, technology and customer reach to its portfolio companies.
In its five years, Amadeus said it has introduced more than 150 startups to Amadeus’ business units and developed more than 20 joint projects with its portfolio companies through the venture.
One of its most recent ventures includes a US$9.8 million investment round in digital startup Refundit. This portfolio continues to grow by three to five companies each years.
“Our main aim in expanding Amadeus Ventures across APAC is to encourage and nurture innovation in the travel industry,” said Suzanna Chiu, Head of Amadeus Ventures.
“It’s a ripe market to be a startup in, and given the global scope of our business, we are on the search for business ideas and models that can be scaled across borders,” Ms Chiu added.
The expansion of the arm in Asia Pacific comes at a time as the region has attracted strong funding support from investors.
More than US$37 billion in capital has flowed into the Internet economy in the last four years, according to Google’s e-Conomy SEA 2019 report.
While the majority has gone to e-Commerce and Ride Hailing Unicorns, over US$7 billion in investment funding went to more than 3,000 Internet economy startups in the last four years in South East Asia.
China is also driving ahead of Silicon Valley and the rest of the United States on venture capital dollars invested into startups.
Amadeus has also appointed Stephanie Strunk to be its Amadeus Ventures representative for the region, in charge of searching for the latest innovations in travel technology startups.
“Travel startups across Asia Pacific are frequently disrupting the industry, challenging the way we think about innovation. To keep up with the pace of change, funding for travel startups is increasing at the same rate – reaching record highs.
“With China leading in this space, we don’t expect the rest of APAC will be that far behind, working on new solutions and ideas to enhance the overall traveller experience,” she said.