The General Catalyst Award for Travel Innovation
One outstanding Travel Innovation Summit demonstrator will receive The General Catalyst Award for Travel Innovation, created in partnership with General Catalyst Partners.
The General Catalyst Award for Travel Innovation will be presented in the form of a US$100,000 convertible bridge loan to the travel technology company that demonstrates the most groundbreaking travel application or solution at The Travel Innovation Summit (view eligibility criteria below).
The winner of the General Catalyst Award for Travel Innovation will be selected from among the Travel Innovation Summit finalists* meeting the eligibility criteria (below). The award will go to the company with the highest numerical score, from either the startup or emerging category.
- Startup or emerging company (came into existence November 16, 2012 or later)
- Is currently seeking funding
- Has not raised more than $1M in debt or equity; does not have a committed (signed) term sheet that would raise outside investment to more than $1M as of November 16, 2015
- Not currently funded by General Catalyst
- Must pass General Catalyst’s due diligence
The bridge loan will convert to equity when the company raises their next round. Companies currently in General Catalyst's portfolio are not eligible and will be excluded from the selection process.
"General Catalyst is excited to encourage brilliant young entrepreneurs to focus their energies on innovation in the travel space. We have a tremendous history in the space – including ITA Software, KAYAK, Sabre Holdings, NLG, Airbnb, Ostrovok, Viajanet, Milewise, Trover, Room77 and CouchSurfing among others – and are confident that the team at PhoCusWright will push travel to new and exciting places."
~ Joel Cutler, Managing Director, General Catalyst
Beyond its many investments in travel-related companies, General Catalyst has worked closely with many of the industry's most-renowned entrepreneurs. For example, Terry Jones, the current chairman of the board at KAYAK and a founder of Travelocity.com, was previously an entrepreneur-in-residence with General Catalyst. Current EIR Hugh Crean is the former president and CEO of Farecast, which was acquired by Microsoft in 2008, where Crean subsequently led the development of Bing Travel.
* Not all travel innovators are eligible for the General Catalyst award.
About General Catalyst Partners
General Catalyst Partners is a venture capital firm that invests in exceptional entrepreneurs who are building the technology-based companies that will lead innovation and transform industries. Founded in 2000, General Catalyst Partners leverages its principals' extensive operational, business development and technological expertise to provide portfolio companies with a catalyst for success through business-building and partnership development assistance. General Catalyst has offices in Cambridge, MA and Palo Alto, CA.