ITV is launching an exclusive Backing Business Fund with Travel Weekly to support the travel industry’s return to growth.

New and lapsed TV brands across the travel industry will be able to access an exclusive ring-fenced fund of £500,000 on a first-come, first-served basis if they meet qualifying criteria.

Backing Business is ITV’s initiative to help champion small businesses of all shapes and sizes. ITV has worked with travel brands including Hurtigruten, Hays Travel and Jet2.com, driving growth in the sector.

Brands looking to become a partner are required to meet the criteria outlined.

The Backing Business fund forms part of a wider partnership between Travel Weekly which launched at the Future of Travel conference on Thursday. The broadcaster’s new research with Travel Weekly looks into how mainstream Britain thinks differently about travel and holidays to help marketing plans for travel brands in 2023.

Jason Spencer, ITV’s Business Development Director, said: “We’re committed to helping travel businesses of all shapes and sizes to grow. Right now, it’s even more crucial that businesses are able to test and invest with confidence. This fund is based on like-for-like value whereby for every pound a brand invests, ITV will match it.

"What’s more, we are also offering creative production support – to help you make your TV ad – at cost. This adds up to experiencing the effectiveness of ITV for your business at a significantly lower cost of entry, enabling you to measure the impact and scale-up as a result.

“We’ve seen how the power of TV can help brands grow and we can’t wait to continue the work we’re doing with Travel Weekly as we jointly focus on helping the travel industry supercharge growth in 2023.”

Lucy Huxley, Travel Weekly Group editor-in-chief, said: “Travel Weekly is committed to its four pillars of informing, inspiring, connecting and supporting the travel industry, and this partnership with ITV reflects our desire to help travel firms of all sizes rebound as strongly as possible as the world reopens.

“The travel industry was one of the worst-affected by restrictions imposed during the pandemic, so we are delighted to work alongside ITV to support the sector’s recovery through the Backing Business Fund, exclusive free-to-access consumer research and more invaluable insight.”