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The UnTours Foundation recently announced the launch of the Reset Tourism Fund alongside its founding partners – Expedia Group, TUI Care Foundation, Adventure Travel Trade Association, Flywire, and B Tourism – providing much-needed financing to tourism entrepreneurs and start-ups around the world.
With over $540,000 already committed by the UnTours Foundation and funding partners, this effort is past the halfway point to the Phase One goal of $1 million.
Funding partners interested in making philanthropic investments to the fund are being sought to help close out the first round of fundraising.
The UnTours Foundation has created the Reset Tourism Fund to identify emerging entrepreneurs whose businesses best represent a better future of tourism and provide them with the flexible capital needed to take their businesses to the next level of scale and impact.
As a result, we will see greater benefits to host communities, more quality jobs for more workers, better stewardship of natural and cultural resources, more equitable opportunities for underserved travelers, and more meaningful experiences for all travelers.
“Reset Tourism Fund helped GoPark Safaris finance our first two hybrid vehicles, the first step in our goal of moving our entire fleet of vehicles to more climate-friendly options. The flexible funding provided has been a vital catalyst in our next stage of company growth and environmental sustainability.”
– Gloria Nyamweru, Founder and COO – GoPark Safaris
To date, the Reset Tourism Fund has already deployed over $160,000 of funding into seven tourism-related companies in the United States, Mexico, and Kenya.
The Reset Tourism Fund will invest anywhere between $10,000 to $100,000 into companies at the forefront of building a more sustainable and community-enhancing industry.
The fund will bring life-changing opportunities to businesses that prioritize resiliency and sustainability, benefit their communities by creating quality jobs, strive towards racial and gender equality in business practices, while providing tourists with exceptional travel experiences.
Investments will take the form of low interest loans, revenue-based financing, and equity.
“UnTours Foundation has a 30-year history in providing flexible financing to world-changing entrepreneurs at the front lines of fighting poverty, injustice, and the climate crisis.
Reset Tourism Fund is an exciting extension of this effort, focusing specifically on tourism, the industry that we know best, as owners of our own sustainable and Certified B Corporation travel company.”
– Jonathan Coleman, Co-CEO – UnTours Foundation
Businesses that apply for an investment from the Reset Tourism Fund must be directly connected to the tourism industry. Examples include, but are not limited to:
Your business should focus on rebuilding the tourism industry’s future by adhering to community-enhancing and environmentally sustainable business practices. We favor businesses that comply with the Future of Tourism Guiding Principles and/or B Corporation principles.
Opportunities from all geographic regions and countries will be considered.
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