Why we invested in InstantSpace
Infrastructure for events and conferences
Organizing conferences or corporate events usually takes months of preparations with booking speakers, syncing agendas, hiring suppliers, engaging in marketing, and PR. But the pandemic struck at once, freezing all activities in the field and leaving the MICE industry (Meetings, Incentives, Conferences, and Events) in full disarray, with clients canceling everything, tossing months of efforts, and asking for refunds.
When all this is over (and it will be over sooner or later), the industry will need proper tools to reboot and start anew.
InstantSpace builds a technology platform that enables hotels to provide customers with instant booking of rooms, facilities, and services dedicated to events, just as the likes of booking.com or Expedia already do for accommodation.
The task is not easy and involves building a technological infrastructure that connects in a single data source all the management systems used by different hotels. The data thus collected and structured are put at work through a marketplace platform, getting demand, and supply in contact. Customers will be able to discover new places to organize their events, while hotels will have access to a much broader base of corporate and non-corporate clients.
At EGV, we are looking to invest in teams addressing big problems and creating solutions that would transform entire industries. We made a bet on InstantSpace and will support their efforts to alleviate the pains of events organizers from everywhere.
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