easyJet will be Founders Factory’s sixth and final corporate investor – and the only travel company.
The five-year deal means that easyJet, through its shareholding in Founders Factory, will scale and invest five early stage startups and co-create from scratch two new companies each year.
The in-house team of experts at Founders Factory, many of whom are successful entrepreneurs themselves, will provide hands-on support and advice to participating startups, as well as working with easyJet to jointly build and launch new TravelTech products and services.
Carolyn McCall, CEO, easyJet, said: “This partnership will create real value for easyJet and our passengers by putting disruptive thinking at the centre of our digital strategy. Over the last five years, we have used digital to transform the airline and the experience of our passengers.
“Connecting the talented easyJet team with the next generation of disruptive entrepreneurs will only continue to drive fresh thinking and uncover new opportunities. We are already well known for our innovation – whether that be our award-winning app with 17m downloads, mobile host technology at airports or our work with drone technology for aircraft maintenance.
“Working with Founders Factory to explore opportunities for advanced TravelTech services will help us to keep making travel easy and affordable.”
easyJet will also be part of the Founders Factory Board of Directors and represented by James Millett, Head of Digital for easyJet.