Selina Partners With TechnoArt to Launch One of the World's First Digital Nomad Investment Funds and Business Accelerator Programs
11 Abril 2022 - 10:00AM
Business Wire
Dedicated investment fund to provide up to 12
startups working remotely from over 100 Selina locations worldwide.
Three month innovation program to incubate the growth of remote
first businesses
Selina, the fast-growing lifestyle and experiential hospitality
brand targeting millennial and Gen Z travelers, today announced
that it has formed a strategic partnership with TechnoArt – the
leading growth platform for technology startups – to launch
TechnoArt@Selina. This partnership creates one of the first global
innovation programs developed to support the digital nomad
community. With over 100 Selina locations around the world these
entrepreneurs gain access to state-of-the-art co-working facilities
and a global network for the opportunity to grow and scale their
business like never before. In conjunction, TechnoArt also
announced the launch of a dedicated innovation fund through which
it will syndicate investments in up to 12 graduating companies per
year.
TechnoArt@Selina includes two programs – Born and Grown. Born is
a 12-week innovation program designed to help early-stage startups
take their vision from an idea to a business that is positioned for
long-term growth. Grown is a digital platform tailored to meet the
needs of the digital nomad community, providing access to a curated
curriculum and a marketplace of premium services, benefits, and
products to advance remote workers’ professional development.
Powered by TechnoArt’s business development and investor network,
the TechnoArt@Selina program is designed to help cultivate and
drive innovation to the next level.
TechnoArt@Selina members can apply for funding via the
partnership’s dedicated website. These applications will be vetted
by the TechnoArt@Selina investment committee and presented by
TechnoArt to its strategic investment partners. On average,
TechnoArt expects to allocate between $1 million and $5 million per
investment. This program is designed to democratize access to
investments for startups that face significant competition in
Silicon Valley, and provides TechnoArt’s membership with
opportunities to invest in promising companies that have the
potential to disrupt industries and shape communities across the
world.
Tristan Jehan, Resident CTO and Partner at TechnoArt, said,
“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. We worked with the Selina team to curate this
amazing program and provide the community an investment vehicle
that will drive nomadic innovation forward and incentivize true
democratization of capital to support our community and enable
innovation wherever it's born.”
Founded in 2014, Selina has exponentially grown to 150 open or
secured properties across 25 countries, building a global community
of destinations and experiences that enables a new generation of
remote workers and digital nomads to travel and work worldwide. Its
locations offer diverse room types, including shared and private
rooms, with a focus on leveraging workspaces, communal kitchens,
wellness and fitness areas, and locally-inspired food and beverage
programs to drive meaningful connections. As community is a key
focus for Selina, the Born and Grown programs encourage
participants to collaborate to create successful businesses,
advancing Selina’s mission. Through the partnership, Selina will
receive 30 percent of the revenue generated from program
activities, as well as 20 percent of the carry from the investments
the fund syndicates.
Selina’s Chief Executive Officer & Co-founder, Rafael
Museri, said, “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. Our mission is to provide authentic connections that support
personal and professional fulfillment, and TechnoArt is helping us
accomplish this by giving our community access to the expertise,
services and growth opportunities they are looking for, making
their experiences at our locations even more productive and
impactful. Together, we want to be the leading innovation program
for digital nomads."
Shani Peled, TechnoArt General Partner, concluded, “The
TechnoArt@Selina program is unique as it offers graduating
companies the opportunity to develop, implement, promote and market
their products across the Selina network. This partnership opens
the gateway to a global market of digital nomads and young
professionals, forming the ideal hub for borderless
innovators.”
The millennial and Gen Z travelers that Selina targets
represents a cohort that spends approximately $350 billion per year
on travel, according to Selina estimates. With its growing network
and unique offerings, Selina expects to continue to benefit from
the surge in remote working and the prioritization of health,
wellness, and an experiential lifestyle among younger travelers,
which are anticipated to become even more pronounced in the coming
years.
Sam Khazary, Senior Vice President and Global Head of Corporate
Development at Selina, concluded, “This collaboration is another
great example of how Selina is able to leverage its growing
ecosystem of properties and community members to advance its
priorities and those of other innovative enterprises. We believe
what Selina is capable of bringing to the table in terms of
facilitating connections and building brand awareness is unmatched,
and we look forward to executing other interesting, mutually
beneficial corporate partnerships.”
About Selina Selina is one of the world's largest
hospitality brands built to address the needs of Millennial and Gen
Z travelers, blending beautifully designed accommodation with
coworking, recreation, wellness, and local experiences.
Custom-built for today's nomadic traveler, Selina provides guests
with a global infrastructure to seamlessly travel and work abroad.
Founded in 2014, each Selina property is designed in partnership
with local artists, creators, and tastemakers, breathing new life
into existing buildings in interesting locations around the world –
from urban cities to remote beaches and jungles. Selina's portfolio
includes 150 open or secured properties across 25 countries and 6
continents. On December 2, 2021, Selina 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.” For further
information on Selina, visit www.selina.com or check out @selina on
Instagram or Facebook.
About TechnoArt TechnoArt is an open innovation platform
providing startups in all stages with tools and support for product
and business development, and helps them secure funding to
facilitate their growth. TechnoArt empowers teams with critical
thinking methodologies, communication skills and collaborative work
ethics that drive the startup community to excel and maximize their
impact. For more information visit TechnoArt.org and
TechnoArt.Live
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Media: ICR for Selina Selina@icrinc.com
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