The program, run by SproutBox and Cornerstone Information Systems, will offer startups 10 weeks of mentorship and training along with up to $20,000 in funding. The first class runs from March to May 2013.
“The travel industry is facing many problems,” says RunUp mentor Doug Heinz, the CEO of PathWrangler. “Margins are shrinking and inferior products are being delivered to travelers. The travel industry is sitting on a lot of old technology and there is a huge need for new innovation to address new problems.”
According to Brad Wisler, cofounder of SproutBox, Bloomington has a lot to offer startups. It’s home to Indiana University, with its highly rated entrepreneurship program; The Combine conference; and an upcoming technology park. And other travel companies got their start there, including RightRez, 39 Degrees North, and DoubleMap.
SproutBox is a venture capital firm that has already been funding and mentoring startups. Cornerstone Information Systems makes technology to help travel companies manage reservations and information.
Applications are due January 15; apply here.