The UK’s Aerospace Technology Institute and Boeing have launched a second call for aviation startups to apply for funding.
The ATI (Aerospace Technology Institute) Boeing Accelerator is looking for startups that will benefit the UK’s aerospace industry in the areas of Industry 4.0, lifecycle and resilience. Successful companies may receive £100,000 (US$130,000) of equity investment from Boeing HorizonX Global Ventures, as well as access to technical experts from ATI, Boeing and sponsor GKN Aerospace.
Applications to the scheme, which is delivered by European accelerator Ignite have to be submitted at atiboeingaccelerator.com by September 28 with decisions made on funding by January 2021.
The first cohort from the accelerator, which was selected in December 2019 from 268 applications the accelerator has already raised a further £6 million (US$8 million) in funding, created 30 new jobs, and engaged further organisations outside of the programs partners, including consultants Frazer-Nash, Chevron Technology Ventures and Rolls-Royce.
Among the inaugural programme successes are Filament (formerly Anomalous), whose AI-based software detects and repairs defects in aircraft parts, which won the Zamma Award at NTT Data Open Innovation Contest in Tokyo and was selected for Founders Factory.
It is expected that eight to 10 companies will be invited to join Cohort Two.
The call for applications welcomes companies from around the world. Gabi Matic, programme director at ATI Boeing Accelerator said, “Aerospace looks very different as we head into the second year of our programme. Covid-19 has had a big impact on the state of air travel, and we have seen unprecedented change. This provides an opportunity for startups developing technology that can make a huge difference to aerospace businesses and related industries, and gives them a chance to really grab the attention of sectors looking to innovate.”
Once applications close startups that pass the selection criteria will be invited to an interview. Companies selected by the program’s partners will then be invited to a selection event. Successful applicants will be notified and offered places shortly after that.
Brian Schettler, Boeing HorizonX Global Ventures’ senior managing director said, “Boeing’s global accelerator programs are designed to help early-stage startups establish relationships with global aerospace companies, raise follow-on funding from the investment community and engage with industry experts to solve problems that the aerospace industry is facing.
“We’re thrilled to be involved in this program again and are excited to see how the accelerator builds on the companies’ existing capabilities and their ability to impact aerospace with their innovation.”
