by Robin Amster
Last updated: 5:10 PM ET, Mon April 24, 2017
Virtuoso has chosen five travel tech companies to participate in its Incubator program this year, which is aimed at fostering the development of new technology solutions specifically for travel advisors.
Virtuoso Incubator researches emerging tech companies, then helps them refine and test their product. These products are designed to provide the luxury travel network's affiliated travel advisors with tools to improve client service and efficiencies, giving them a competitive edge.
Virtuoso said it has been highly selective in accepting the participants for 2017; it received applications from more than 60 companies. Strong interest in the Incubator program indicates a rapidly growing travel technology sector, which saw corporate investment deals reach a five-year high of $3 billion in 2016, according to Virtuoso.
Each participating Incubator company receives a dedicated panel of Virtuoso advisors who provide their input, test the products and suggest improvements to better serve travel agencies, advisors and clients.
More than 60 advisors have volunteered, with a member of Virtuoso's Technology Committee acting as each panel's liaison to the Incubator program. The Committee also assists with vetting applicants and approving the companies that are offered Virtuoso preferred partner status.
"Virtuoso Incubator was founded to fill a void in the travel advising industry," said David Kolner, Virtuoso's senior vice president, global member partnerships. "Our objective was to seek out business solutions for our travel agency members and create a real-life use case scenario for companies that were developing the technology we needed.
"The value to these tech companies is tremendous because we're giving them access to their future customers, who are also providing feedback in real time," Kolner added. "What we're getting in return is the opportunity to create customized technology options for agencies ranging from just a couple of people to hundreds."
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This year's participants are:
- Approach Guides: The company's Trip Reads destination content service-featuring inspirational videos, articles, books and podcasts-highlights cultural aspects of places around the world.
-TravelContact (formerly Alanna): This is a CRM technology that includes a client and provider database, email and newsletter marketing platform, smart multichannel communication, beginning-to-end trip builder, interactive client portal and a smart dashboard where advisors can see daily tasks.
-Tagible: The company's software extracts keywords, making the words interactive and overlaying curated content including YouTube, Google Maps and Pinterest. The goal is to drive engagement and increase conversion rates and time on site by keeping visitors on the agency's website.
-tripFiles: Travelers can store all of their videos and photos with this free private social network at no charge, safely share trips and never need to email/text photos to their travel companions.
-Xlpr VR: This app-based virtual reality platform is tailored for the travel industry; it guides users on an immersive journey through a destination. The aim is to dramatically increase sales conversion rates and foot traffic. It also educates advisors on destinations.
Virtuoso Incubator's recent partnership with global travel market research company Phocuswright has further enhanced the network's leadership in the tech space. Phocuswright refers innovative travel technology startups to the program and shares its research on the sector with Virtuoso as well as with attendees at network events.
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