IATA has partnered Travel Capitalist Ventures, a
travel-focused investment firm, to create the NDC Innovation Fund.
This fund will support innovation in airline distribution using
the New Distribution Capability (NDC) standard.
NDC is a travel
industry-supported program launched by IATA for the development
and market adoption of a new XML-based data transmission standard.
The Innovation Fund is a stand-alone strategic investment
fund, which will make investments in small and medium-sized
companies seeking to develop solutions which support airlines and
agents as they leverage the enhanced distribution capabilities
enabled by the NDC standard.
"The NDC Standard will
modernize the way that airline products are presented through
travel agents. It will help to promote efficiency and innovation,
while supporting consumer demands for personalized travel products
and services through travel agent channels," said Tony Tyler,
Director General and CEO of IATA. "Airlines and travel agents will
require tools and applications to manage this content. While we
have every confidence in the abilities of existing players, IATA
and Travel Capitalist have created the Innovation Fund to help
spark creative solutions even more broadly."
The Fund is currently soliciting
proposals from companies seeking the capital and
strategic/business development support needed to develop
applications and services to meet current and future industry
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