Selina Partners With TechnoArt to Launch One of the World's First Digital Nomad Investment Funds and Business Accelerator Programs

Rhea-AI Summary

Selina announces a strategic partnership with TechnoArt to launch TechnoArt@Selina, aimed at supporting remote startups. This global innovation program will incubate up to 12 startups annually at over 100 locations worldwide, providing access to co-working spaces and a vast network. TechnoArt has introduced a dedicated innovation fund, investing between $1 million and $5 million in each selected startup. Selina will earn 30% of the generated revenue and 20% of investment carry. The program targets the millennial and Gen Z traveler demographic, which spends approximately $350 billion annually.

Positive

• Launch of TechnoArt@Selina to support up to 12 startups annually.
• Access to co-working facilities and a global network for entrepreneurs.
• Dedicated innovation fund with investments between $1 million and $5 million per startup.
• Selina will receive 30% of revenue from program activities and 20% of fund syndication carry.

Negative

• None.

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

NEW YORK--(BUSINESS WIRE)-- 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

View source version on businesswire.com: https://www.businesswire.com/news/home/20220411005102/en/

Media:

ICR for Selina

Selina@icrinc.com

Source: Selina

FAQ

What is TechnoArt@Selina?

TechnoArt@Selina is a partnership initiative aimed at supporting remote startups by providing access to co-working facilities and a global network.

How many startups will TechnoArt@Selina support each year?

TechnoArt@Selina intends to support up to 12 startups annually.

What is the investment range for the TechnoArt innovation fund?

The innovation fund will invest between $1 million and $5 million per startup.

How does Selina benefit from the TechnoArt partnership?

Selina will receive 30% of the revenue generated from the TechnoArt@Selina program activities and 20% of the carry from investments made.

What demographic does Selina target with its services?

Selina primarily targets millennial and Gen Z travelers, who reportedly spend around $350 billion globally on travel annually.