The ATI Boeing Accelerator has been renamed Aerospace Xelerated and opened its third call for startups to apply for funding, this time in the area of autonomy and artificial intelligence.
The startup support scheme is led by Boeing and involves several aerospace companies, including GKN and Rolls-Royce is looking for its third cohort of ten companies, each of which will receive a £100,000 (US$137,00) equity investment from Boeing and enter a three month mentoring and training program.
This is the first time the scheme has run without the involvement of the UK Government via the Aerospace Technology Institute (ATI). Nichola Bates, managing partner at Aerospace Xelerated and head of global accelerators and innovation programs at Boeing said, “The UK Government is still fully supportive of the program but industry are now leading the effort.”
This year the program will be investing into startups building autonomous and AI solutions that advance the way aircraft are built.
Aerospace Xelerated is looking for companies across the following areas; assured autonomy; autonomous navigation; generative design; smart maintenance; adaptive learning; reduced workload and Aerospace AI Applications. Companies must be late seed-stage, software only, and working with AI or autonomous technology.
Applications close on September 26, 2021 and startups can apply at https://xelerated.aero
The people involved in the startups will be introduced to a network of angels, venture capitalists and the wider aerospace industry. Successful companies will also receive mentoring from a global network of experienced entrepreneurs, mentors and investors, plus over £100,000 in “perks” from partners including Google and Amazon.
Bates said, “We’ve had great success with our previous two cohorts and we’re excited to take the new program forward this year.
“At Boeing we believe there is a huge opportunity for innovative startups focussed on autonomy and AI to disrupt every aspect of aerospace, from the supply chain to onboard customer service and we’re eager to double down and support more businesses. We’ve seen incredible leaps forward in aerospace and connected industries in the past 12-months, and we know we can offer startups looking to operate in this space an incredible advantage.”
In previous year’s the ATI Boeing Accelerator have sought out startups in areas such as Industry 4.0, resilience and lifecycle management. The two previous cohorts have gone on to raise £20 million (US$27 million) in additional funding and create over 100 jobs across the UK. Organisations to work with past cohorts as partners or mentors include PWC, Frazer-Nash, Chevron Technology Ventures and EasyJet.
Podcast: Wil Benton and Nichola Bates, ATI Boeing Accelerator