New York-based JetBlue Airways is planting roots in Silicon Valley to develop new technology for travelers and workers in the travel industry.
JetBlue announced plans Thursday to launch a venture capital subsidiary in Redwood City to invest in, support and partner with start-ups to develop new technology for the airline and hospitality industries.
"The work being done today in the start-up community will define travel for years to come," said Bonny Simi, president of the new company, dubbed JetBlue Technology Ventures.
JetBlue claims the company is the first venture capital subsidiary established in Silicon Valley by a U.S. carrier but it did not disclose how much money the airline will invest in the business.
Simi is a JetBlue pilot with more than 25 years in the airline industry. The offices of the company will be on the campus of GSVlabs, a start-up incubator.
The goal, according to JetBlue, is to develop technology to make life easier for airline passengers and crew, increase the carrier's efficiency and expand JetBlue's business.