Our 2021 summer venture associate Jacqueline Young has spent the last ten weeks supporting our team with the sourcing and analysis of new investment opportunities in addition to completing a capstone research project. She is currently an MBA candidate at Massachusetts Institute of Technology.
The last ten weeks with JetBlue Technology Ventures (JTV) have been nothing short of a whirlwind. My experience with the team was partly remote, partly in-person, and all fun. Along the way I was able to learn more than I ever thought possible about innovation within the travel ecosystems. Below are my three key takeaways from my time with the team!
JTV’s reach extends far beyond the aviation industry.
Before starting with the fund, I associated the JetBlue name exclusively with the aviation industry. I quickly learned that JetBlue’s current product offering positions it not just as an airline, but as a holistic travel brand. As an extension of this, JTV focuses on sourcing, investing in, and supporting innovations across the entire travel ribbon (more on that here.) Over the course of my internship, I was able to speak with startups specializing in autonomous driving, online fraud detection and prevention, and embedded finance, to name a few.
The role of a corporate investor lends itself well to strategic partnerships.
The manner in which venture capital firms invest and make decisions is elusive at best, and corporate venture capital (CVC) groups even more so. Each company with an investment arm operates differently, and while I previously knew the theory behind how a strategic CVC functions, my internship enabled me to gain first-hand, practical experience with this investment approach and philosophy.
What I found unique about the team’s approach was their commitment to being a strategic investor. Beyond conducting robust due diligence and writing thoughtful investment memos, JTV also regularly connects with JetBlue to ensure transparency, alignment, and collaboration on new areas of innovation. JTV also seeks external perspective and feedback from industry experts, customers, and other investors to ensure 360-degree insights for a more holistic approach to traditional venture investing.
Robotics + artificial intelligence = the future of travel.
Over the past ten weeks, I led a research project focused on artificial intelligence, automation, and robotics technologies as they apply to the travel and hospitality industries. This involved conducting a deep-dive into the astounding number of use cases for automation and artificial intelligence to drive operational efficiencies, cost-savings, and elevated customer experiences in travel, with particular attention given to JTV’s five investment themes. The research also yielded numerous applications of robotics integrations to enhance sustainability efforts and practices, a key focus for JetBlue moving forward.
The learnings and takeaways I’ve had over the past ten weeks will be instrumental as I seek a full-time role in venture capital after graduating from business school. I’m grateful to the JTV team for this experience!
