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Jonathan M. Tisch Center of Hospitality
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November 2023
Dear NYU Tisch Center Incubator Friends,
Welcome to the November 2023 Issue of our newsletter.
Happy November - Since November is Thanksgiving Month, I would like to give thanks to many of you for your support and interest in our incubator program.
The past month has been very busy for our Incubator with many events such as the JetBlue Ventures MasterClass where Managing Director at JetBlue Ventures, Stephen Synder, speaks about the captivating realm of corporate venture capital through his experience. Complementing this event was our second annual Hackathon with TravelTechLab by HotelBeds, where students attended professional-led workshops, and competed through presentations of their own business proposals. You can read the details of our events below.
Thank you and have a great Thanksgiving,
Dr. K
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NYU Tisch Center of Hospitality Innovation Hub Incubator Program 2023 Cohort ResultsDear NYU Tisch Center HI HUB INcubator Mentors and Investor Club Members,
Thank you to those who evaluated the Fall 2023 Cohort Member applications. Based on your votes here are our top five companies that made it to our Fall 2023 Cohort:
- HAZELICIOUS
We’re a company that’s obsessed with making the most delicious hazelnut products, in the most sustainable way.
- HINOKI
We open access to homeownership for freelancers with loans based only on a property's vacation rental potential, not personal income.
- STARSHIP REST STOP
Where EV enthusiasts recharge, unwind, and spark excitement on the road to a greener future!
- SOBAT BOLANG
Sobat Bolang would penetrate 2% of the potential market in Indonesia initially and could generate USD 1 Mio operating profit per year by performing as an ultimate digital travel platform to accommodate travelers to discover and experience rural destinations, connect them to the right travel suppliers, secure the transaction, and support sustainable development.
- AAAH CULTURE
AAAH CULTURE is an art event organization based in NY empowering Asian communities around the globe.
Thank you all for your support of our Incubator program. Let's enjoy the journey together. The best team will have 20,000 USD from us as a winning prize and many more surprises.
Best,
Dr. K
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NYU HI HUB Incubator Concludes The Fall 2023 Master Class:
Driving Innovation in the Travel & Hospitality Industry: Exploring Corporate Venture Capital with JetBlue Ventures
The NYU SPS Jonathan M. Tisch Center of Hospitality Innovation Hub recently hosted a MasterClass session featuring Stephen Snyder, Managing Director at JetBlue Ventures. He shared insights into the captivating realm of corporate venture capital (CVC). During the session, students had the privilege of gaining valuable insights into JetBlue Ventures' approach to integrating CVC into their operations. JetBlue has been actively forging partnerships and investing in innovative startups to enhance the future of travel and hospitality, boasting an extensive portfolio of companies with which it has already collaborated. Read all about it below.
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TravelTechLab: Design Thinking Idea Hackathon ConclusionNYU Jonathan M Tisch Center of Hospitality, HI Hub Incubator, and TravelTechLab have concluded their Hackathon Event this past month, analyzing the building of solutions to real-world challenges in the hospitality world with events led by industry experts and student project presentations.
What the Idea Hackathon entailed for attendees:
1. October 18th: Attendees learned the basic tenets of Design Thinking in a 3-hour workshop on persona mapping and problem statement definition, led by a design thinking specialist.
2. October 19th-25th: Worked with hoteliers to develop and validate ideas along with mentoring by the design thinking specialist.
3. October 18th: Students pitched imaginative solution ideas to a distinguished panel in the final design showcase.
We are proud to present our winning student company Sync&Stream, who presented a unified platform using AI to collect and distribute updated hospitality content, something all partners who participated in the Hackathon agreed is one of the most critical pain points in the industry. Read more about the event below.
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| Get to Know Your Mentors & Investors!
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Gene QuinnWhy did you decide to become a mentor/ investor for the Hospitality Innovation Hub Incubator?
Business is a social sport, which means competition, not battle. My own personal (and financial) growth in business comes from my curiosity about "what's next" in the global technology-driven economy. The three mentors in my business life understood me and wanted to be part of my success. Learning also is about teaching. In business, learning is the result of personal observation, listening, interacting, networking, debating, inventing, analyzing, building, and growing ideas into products and services. Bottom line, it's just that I like helping others create the next "flywheel effect" business by pointing out the mistakes I've made myself and observed in others. Plus, I can share knowledge of mistakes so the next generation of entrepreneurs can learn from those mistakes. Thanks to Prof. Richie Karaburun for asking me.
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Next Billion Dollar Startups 2023
Forbes presents their 2023 list of startups most likely to reach a billion-dollar valuation in the coming years. With extensive information on the startup's top investors, 2022 reported revenue, and product vision for the near future of operations, read all about these upcoming success stories in the making here.
"There are more than 50,000 venture-backed startups in the U.S., and only the tiniest fraction will ever reach a $1 billion valuation. Here are the 25 we think most likely to succeed."
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AI startup caused a ‘battle of the billionaires’ on ‘Shark Tank’—and got a $300,000 offer from Mark Cuban and Michael Rubin
CNBC breaks down a recent entrepreneur Maurice Bachelor's Los Angeles-based tech startup Bot-It, and its explosive appearance on the popular ABC investor showcase show Shark Tank. Bot-It utilizes AI to automate an endless number of online tasks such as booking appointments, buying tickets for live events, and making restaurant reservations, among many other possibilities.
Controversy over bots' ability to buy limited supplies of goods and services did not stop the two investors from seizing an opportunity to invest.
Read the full article by CNBC
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All About You: Woman-Led Fintech Startup YouTrip Raises $50 Million From Lightspeed
Singapore-based Fintech startup YouTrip garners attention from investors for being a major first mover into the multicurrency digital wallet service amidst a rising finance technology scene in Southeast Asia. Focusing on the regional customer base and building a strong introduction to their service, YoutTrip shows signs of becoming the central cross-payment company of the region with expansion to many markets.
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Where Are They Now? Checking in With Our Hot 25 Startups For 2022
PhocusWire revisits last year's list of the top 25 most promising startups to see what has become of their business prospects and journey. Citing its biggest winners, and offering commentary on the path of many of last year's most interesting companies, Phocuswire helps build a larger picture of startups building momentum and great potential within their markets.
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How To Use Intelligent Automation For Revenue Generation
Forbes analyzes the rise of Intelligent Automation (IA), a mixed system of artificial intelligence and new methods of automation to perform tasks within business operations with little human involvement. The application and promise of IA being highly efficient in small businesses opens new possibilities for efficiency and a low barrier to entry into markets.
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Quote of the Month
“Courage is grace under pressure”
- Ernest Hemingway
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