Frequent flyer forum Milepoint is launching a “funding competition for small startups focused on providing tools, services and applications designed for road warriors/frequent flyers.”

Milepoint founder Randy Petersen tells Skift the first Launchpoint competition, which will take place in Washington, D.C., April 27 at Hilton Tyson’s Corner, aims to have 10 startups pitching to an audience of frequent flyers, who will judge the competition.

Launchpoint sponsors include Points.com, Switchfly, ICLP, Concur Perfect Trip Fund, American Airlines Startup Investment Fund, and the USA Today Travel Media Group.

The winner and runner-up become eligible for a final round, with up to $50,000 in cash and prizes at stake.

“They all love that there is no pitch fee, no equity stake and the richest payout of anything in the travel space, and the only one for road warriors and frequent flyers,” Petersen says.

Walla.by and Noob Traveler are two of the startups expected to participate in the Launchpoint D.C. competition, Petersen says.

Following the D.C. event, the next competition is expected to take place at the Grand Hyatt Tampa on September 27.