IAG Cargo to host competition for startups to secure investors

IAG Cargo, the cargo arm of International Airlines Group, is accepting applications for its third iteration of its 10-week long “Hangar 51 Travel Tech Accelerator” program, to be held in London. The mentorship for logistics startups offers a chance to win a “multimillion pound” investment for their business idea at the end of the program, in which the startups work alongside industry professionals.

IAG says it is considering a wide array of business-models, the unifying theme being the operations optimization of the aviation industry. This could include innovations in data analytics, asset tracking, measurement and monitoring tools, or the application of robotic processes.

Past winners of the program include Esplorio, an app that enables users to document their travels via a sleek interface, and Vchain, a blockchain-based software that claims to help users minimize their time spent waiting in lines in airports.

At the end of the mentorship, up to 10 of the startups will have the opportunity to present their business idea to IAG’s senior management team and investors. Interested parties can submit applications on the company’s website until Aug. 5.