One Travel Ventures

growth-negative

The Phocuswright Young Leaders Summit took place at the Phocuswright Conference 2022 in Phoenix, Arizona. Young travel tech entrepreneurs expressed concerns about the lack of fundraising opportunities and the need to shift from growth to profit strategies. Only 8% of the attendees felt that 2023 would be a better year for raising funds. One third of the entrepreneurs said they were focusing on profitability rather than growth, compared to only 16% a year ago. The rising interest rates, inflation, and economic uncertainty were cited as reasons for the difficulty in raising funds. The summit also discussed the impact of remote work policies on job choices and the importance of diversity and inclusion in company culture. Sustainability was seen as unlikely to have a significant impact on the travel industry in the next decade. The event aimed to recognize and support young minds shaping the industry.

growth-positive

One Travel Ventures, an Israeli-based travel and hospitality-focused fund, is interested in startups that solve boring problems in the travel industry. The co-founder, Henry Chen Weinstein, believes that the pandemic has brought attention to previously unaddressed issues. He sees opportunities in the financial side of travel and the problem of disruptive flights. Weinstein expects a travel revolution to happen as experienced founders work to fix the infrastructure of travel. One Travel Ventures has invested in startups like Reeco and Holisto, and its fund is not limited to deals in Israel. The typical cheque size for investments is around $1 million. Weinstein is also involved in Travel Tech Nation, a community of travel tech leaders.