"The UK has an incredible track record of fostering innovation in the traveltech sector," he added, pointing to Citymapper, Skyscanner and Top Table as examples.
Deputy Mayor of London Kit Malthouse said: "It seems logical given the importance of the travel industry, the hospitality, the tourism industry and culture generally to London, that we should try and do something to integrate the great creativity there is in technology and digital in London, with the fantastic creativity there is in travel."
He added that the facility will aim to take the "22-year-old girls and boys and expose them to the big cheeses to accelerate their growth and get their technology into big companies."
Day said the success of the traveltech incubator will be measured by the "quality of the start-ups it churns out" but was unable to provide any specifics beyond that. "You'll be measuring it more than I will," he added.
The length of time that each start-up can stay in the traveltech incubator is unclear at this stage. "Obviously with 35 desks here we can only keep them for a certain time," said Day. "If it's a success hopefully the companies will be in and out within a short space of time."
Sign up for CIO Asia eNewsletters.