Seattle-based travel company Expedia Group Inc. (Nasdaq: EXPE) is launching an accelerator program as part of its tech platform for partners, Open World.
The program, called the Open World Accelerator, will begin in January and end in May with a demo day. Expedia began accepting applications on Wednesday and will continue accepting applications until Oct. 21.
Expedia will run two programs through its Open World Accelerator. The "impact program," which is what began accepting applications on Wednesday, aims to "increase access for underserved travelers; making travel more open and accessible," according to the website. Expedia is also launching a "co-development program" to create new tech, but this version of the accelerator doesn't have a set launch date yet.
The impact program, which is virtual, is aimed at startups and small businesses that are in the tech space and have at least a viable product. Participant companies can't be more than 10 years old. Participants get mentoring from Expedia, partnership opportunities, brand exposure and workshops. The demo day in May will be in person, as will the program opening in January, located at Expedia's Interbay headquarters.
Expedia doesn't take equity in participant companies, which can land up to $20,000 in grant funding through the program. Startups don't need to be based in the U.S. to apply.
A committee will review the applicants. The first round of screening will be based on the application forms, and the final screening will be done through a video interview. The committee will look at factors like clarity of the problem, team makeup and mission, according to Expedia. Expedia plans to announce the participants in December.
“Travel is an economic driver for many communities around the world, but it’s a complex industry to enter and to innovate scalable products that address specific traveler needs,” Archana Arunkumar, senior vice president of platform at Expedia, said in a release. “Open World Accelerator is specifically designed to drive innovation in the industry.”
Expedia announced Open World in May. The platform is meant for partners to access tools that can boost their business.
"Whether you’re a bank with a rewards program, an airline who wants to expand their offering, a specialty travel agent focused on underserved travelers, or a TikTok influencer helping the world dream of their next destination, if you want to be in the travel business, the Open World platform can help anyone succeed," Expedia CEO Peter Kern said in a release announcing Open World in May.
Expedia's brands include Vrbo and Orbitz, and the company has been making an effort to declutter its operations, including a rebrand and a simplified customer experience. The company last year formed a new corporate structure with four departments: Expedia Services, Expedia Brands, Expedia Marketplace and Expedia for Business.
