Aerospace Xelerated startup program announces year-round model
13 Nov 2023
Aerospace Xelerated at the AX Summit in Dubai. Photo credit: Aerospace Xelerated
Aerospace Xelerated, a Boeing-led accelerator program, announces its “always on” innovation approach, meaning the program will now run year-round, with Aerospace Xelerated scouting, selecting and matching two to three startups each quarter with corporate and government partners to solve clearly defined innovation challenges affecting those organizations. Following the successful graduation of its latest cohort earlier this year, Aerospace Xelerated partners with Tawazun Council for a second year to support the program’s evolution.
Aerospace Xelerated invests in, mentors and supports startups around the globe, developing scalable and sustainable solutions for the aerospace industry and beyond. Since 2019, thanks to the support of industry partners, including Tawazun Council, it has helped 40 tech startups across 14 countries and 12 industries access critical investment, mentorship and support. Many global organizations have worked with participant companies as partners or mentors, including Etihad, GKN Aerospace, Rolls-Royce, KPMG, PWC, Frazer-Nash, Chevron Technology Ventures and EasyJet. Plyable (Oxford, U.K.), a provider of composite tooling for the aerospace industry, was recognized as a member in June 2023.
Each startup will receive up to £200,000 in funding to execute a proof of concept contract if selected. Proof of concept contracts are preliminary agreements that demonstrate the feasibility of a concept or idea to validate its potential before committing to a full-scale implementation or investment. The startups will also have the option of receiving a total of £200,000 Simple Agreement for Future Equity (SAFE investment) from Boeing and Tawazun and perks valuing more than £100,000 from partners, including Oracle, Amazon, HubSpot, Digital Ocean and many more.
“The opportunity to work on a fully funded proof of concept project will allow selected startups to develop, refine and validate their product or service solution with an established industry partner,” says Jacqueline Davidson, program director for Aerospace Xelerated. “This will provide startups credibility and open the door to additional funding opportunities and business prospects. Likewise, collaborating corporate and government organizations will benefit from bringing tech innovation in-house to affordably, efficiently and effectively solve real challenges that their organizations are facing.”
Earlier this year, Tawazun Council partnered with Aerospace Xelerated to support the fourth cohort focused on digital services and solutions related to flight and passenger journey optimization, supply chain intelligence, next-generation workforce and operational efficiency. The 11 selected startups were offered a tailored accelerator curriculum, investment of approximately £200,000 and connection with a global network of mentors and investors from the aerospace industry.
Startups and partners interested in participating in the program can email the Aerospace Xelerated team at hello@xelerated.aero for more details.
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