Airbnb will select one startup a year to fund with ‘no strings attached’— founder Brian Chesky dedicates initiative to the company’s earliest investor Ron Conway

• Through the award, Chesky and Conway will select one Y Combinator startup that “is working to create more economic empowerment opportunities for people across the world.”
• The startup will be funded by Airbnb with “no strings attached” and also receive personal mentoring from Conway and Chesky.
• The announcement from Chesky came at a time when Airbnb’s IPO has been a massive hit and the company’s valuation surged past $100 billion during the debut.

Airbnb CEO and founder Brian Chesky has announced the ‘Ron Conway/SV Angel Economic Empowerment Award’ – an award dedicated to one of the vacation rental marketplace’ earliest investors Ron Conway.

Through the award, Chesky and Conway will select one Y Combinator startup that “is working to create more economic empowerment opportunities for people across the world.” That startup will then be funded by Airbnb with “no strings attached” and also receive personal mentoring from Conway and Chesky.

The announcement from Chesky came at a time when Airbnb’s IPO has been a massive hit and the company’s valuation surged past $100 billion during the debut. Chesky shared a blog on how it was the support of angel investors like Conway that made it possible for him to build Airbnb.

“Ron and I also share a desire to inspire more entrepreneurs to create companies that offer economic opportunities for more people and a commitment to making the tech industry more diverse and inclusive. In the years to come, I plan to take a number of significant steps to help achieve these goals,” wrote Chesky.

Chesky’s story with Conway and the initiative to support budding startups was also appreciated by the biggest entrepreneurs from around the world.



Meanwhile, Indian entrepreneur Kunal Bahl, co-founder of Snapdeal, who also runs his own venture fund Titan Capital, said that “India needs its own Ron Conways, & without doubt India will have them!”


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