Lufthansa Group, an international airline company, has expanded its Innovation Hub digitisation unit by opening an office in Singapore. The Lufthansa Innovation Hub Singapore was launched on 1 July 2018.
Founded in 2014, the corporate digitisation unit was based in Berlin and the group’s foray into Singapore is comes at the time the market is “the most dynamic” for travel and mobility innovations. In addition, Lufthansa Group is the first non-Asian airline group with a backbone in the Asian Pacific travel and mobility tech ecosystem.
“Not only are the Asian markets showing particularly dynamic growth in our core businesses, but they are now often also leading the way in digital travel and mobility solutions. With the new locations of the Lufthansa Innovation Hub, we want to learn from the developments in Asia, build specific partnerships in the digital context, and benefit from our experience,” Carsten Spohr, chairman of the executive Board of Deutsche Lufthansa AG, said. He added that the company aims to “consistently" expand its position as an airline group with the "world's highest level of digitisation.”
According to the release, the Asian startup scene is driving a “fundamental technological change” along the travel and mobility chain which is reflected in the increase of startup and financing dynamics.
Last year alone, 55% of global venture capital, approximately SG$14 billion invested in travel and mobility tech went to China. In addition, there was also an increase in mega-financing rounds, most recently Grab Singapore at SG$1 billion and Hellobike in China at SG$321 million.
Singapore is a hotbed for innovation, particularly in the context of urban mobility.
"Today, we can already see how inner-city mobility will function, be distributed, and consumed in the future. In addition to having some of the most exciting mobility startups, acclaimed local research institutes in the sector are also joining forces,” Gleb Tritus, managing director of the Lufthansa Innovation Hub said.
“With the new location of Lufthansa Innovation Hub, we want to participate in this important ecosystem and expand the expertise we have developed in Europe," he added.
The release also added that experts from the Berlin team are working on local network expansion, targeted scouting, and partnership initiation for the key activities in the Asian region.
The new digitisation unit is aimed at generating structured insights along the Lufthansa Group value chain, building concrete partnerships and investments, and ultimately developing in-house solutions tailored to local markets. In addition to the Singapore office, the Lufthansa Innovation Hub is opening a new unit in Shenzhen, China to stay current with the status of China's technological ecosystem.
Marketing has reached out to Lufthansa Group for more information.