Selina, the London-headquartered hospitality brand targeting millennial and Gen Z travelers, has formed a strategic partnership with TechnoArt, a New York City-headquartered growth platform for technology startups, to launch TechnoArt@Selina, a global innovation program designed to support the entrepreneurial endeavors of digital nomad community.
What Happened: TechnoArt@Selina consists of the programs Born and Grown. Born is a 12-week innovation program focused on helping early-stage startups expand their vision from an idea to a business positioned for long-term growth, while Grown is a digital platform tailored for the digital nomad community by offering access to a curriculum and marketplace of premium services, benefits and products to advance the professional development of remote workers.
In conjunction with this partnership, TechnoArt also rolled out a dedicated innovation fund that will syndicate investments in up to 12 companies per year that participate in the new program. On average, TechnoArt expects to allocate between $1 million and $5 million per investment.
According to the companies, Selina will receive 30% of the revenue generated from program activities and 20% of the carry from the investments the fund syndicates.
Why It Matters: TechnoArt@Selina is the latest endeavor for Selina since its announcement last December that it entered into a definitive merger agreement with BOA Acquisition Corp. (NYSE:BOAS) that will result in Selina becoming a publicly listed company on the New York Stock Exchange under the new ticker symbol “SLNA.”
“Selina is home for millions of travelers and digital nomads, and this program is designed to provide a supportive infrastructure and atmosphere that is conducive to helping our members establish and grow their businesses from anywhere in the world,” said Rafael Museri, Selina’s co-founder and CEO.
Tristan Jehan, partner and resident chief technology officer, added, “More and more entrepreneurs are looking to expand their boundaries as they engage with their clients and partners online and explore new markets. Combined with the growing digital nomad community, the next generation of tech companies have a new outlook on growth — one that TechnoArt
looks forward to supporting through this new and exciting partnership.”
