JetBlue announced the launch of JetBlue Technology Ventures, a wholly owned subsidiary that will invest in, incubate and partner with early stage startups at the intersection of technology, travel and hospitality.

As the first corporate venture capital subsidiary in Silicon Valley backed by a U.S. airline, JetBlue Technology Ventures will operate from the GSVlabs campus in the heart of Silicon Valley. By partnering with incubators, venture capital firms, universities and other organizations inside and outside Silicon Valley, JetBlue Technology Ventures will build relationships with a range of startups across the travel and hospitality spectrum.

The initiative will serve as a launch pad for innovations that improve customer and crewmember experiences, increase the airline's operational efficiency and expand the JetBlue brand to new markets. Bonny Simi will serve as president of the subsidiary, reporting to Eash Sundaram, executive vice president and chief information officer of JetBlue.