EasyJet Hopes Its Plan to Invest in Start-Ups Will Help It Stay Ahead of Competition
Photo Credit: An EasyJet aircraft. The airline recently made an investment in Founders Factory. EasyJet
Skift Take
For a relatively small outlay, EasyJet will effectively have an interest in 35 companies. Many of these will likely come to nothing but even if only a couple succeed the initial investment will seem like a bargain.
In a highly-regulated industry like aviation, moving with the times can sometimes be a lengthy process.
UK airline EasyJet has always been one of the more forward-thinking carriers. It has flown a plane through an artificial volcanic ash cloud to test out a new detection system, experimented with drones and integrated FlightRadar24 into its mobile app to enable customers to track their flight.
Now it is looking to outsiders to help it develop next-generation airline technology.
The company has joined forces with Founders Factory, a start-up accelerator and incubator, co-founded by Brent Hoberman of Lastminute.com fame.
The deal, first reported in The Sunday Times, sees EasyJet taking a direct stake in Founders Factory rather than in the individual businesses themselves. It follows a path of investing in startup funds that airlines including JetBlue and El Al have already pursued.
According to James Millett, EasyJet's head of digital, it represents an opportunity to b
