IAG International Airlines Group - which owns British Airways and Iberia - has announced that it has invested in two travel technology start-ups, following its first in-house accelerator program "Hangar 51". Of five companies which participated in Hangar 51, Esplorio and Vchain have been selected for further investment.

According to its website, Esplorio is an app which records and shares travel experiences by connecting to users' social media accounts and collating information.

VChain uses blockchain technology to create individual identities for passengers. It claims to provide "unhackable and strategic data sharing for airlines".

Stephen Scott, IAG's head of global innovation, called the accelerator program a fantastic opportunity. "The two companies we are investing in have the potential to add great value, rich content to our customers and operational efficiencies," Scott said. "This has been our first global accelerator programme and it will definitely not be our last."

IAG did not disclose the amount of its investments in the companies, only saying that they are not majority stakes.