Cornerstone and SproutBox Launch New Travel Technology Accelerator

(Bloomington, IN– November 9, 2012) Travel technology company, Cornerstone Information Systems, and venture capital firm, Sproutbox, announced a new partnership that will focus on the identification of the next great travel technology. The centerpiece of the partnership is the creation of a travel technology accelerator called RunUp Labs. RunUp Labs will execute a mentor program to provide critical support specifically designed to help startups refine their ideas and focus on applications that enhance and improve the travel experience.

The focus of RunUp Labs is an intense ten week program where selected entrepreneurs will receive mentorship from experts in travel, product development and design, finance and marketing. At the end of the program the entrepreneurs will be provided the platform to pitch their business plans to an audience of investors actively looking to invest in travel related technology. The $2 million Kirkwood Capital Fund has committed to participate in the program’s pitch day.

“SproutBox has been helping entrepreneurs turn their ideas into great products for years. Some of the best ideas we’ve seen have been travel-related, but the industry is so complex that our technology and product expertise simply wasn’t enough. That is where Cornerstone comes in,” said Brad Wisler, Co-Founder of SproutBox.

“‘I’m thrilled with the opportunity to be a part of RunUp Labs”, says PathWrangler CEO, Doug Heinz. “Currently, the travel industry is facing many problems: travelers are looking for more personal experiences. However, due to the global economic situation and market pressures for travel, margins are shrinking and inferior products are being delivered to travelers. The travel industry is sitting on a lot of old technology and there is a huge need for new innovation to address new problems. RunUp Labs has a team of thought leaders, in both technology and the travel industries, who have the vision and the experience necessary to help bring the badly needed change to this industry.”

RunUp Labs anticipates the first mentor session to commence in the early spring of 2013.