How Aerospace Xelerated is helping innovators flourish
Aerospace Xelerated (AX) is helping some of the globe’s most innovative companies gain access to the corporate and government backing that will see their solutions gain traction on an international…
Aerospace Xelerated (AX) is helping some of the globe’s most innovative companies gain access to the corporate and government backing that will see their solutions gain traction on an international scale, said programme director Jacqueline Davidson.
Speaking to FINN, she said the Boeing-led initiative was about giving aerospace innovators “unfair access, not unfair outcomes”.
Last month, AX announced a new model, the “always on” approach, which it hopes will deliver more significant benefits and impact to participating startups, as well as corporate and government stakeholders.
AX will now run the programme year-round, with two to three startups scouted, selected and matched each quarter.
“The real golden nugget is being able to trial this tech and give these companies revenue,” Davidson said.
Each startup will receive up to £200,000 in funding to execute a proof of concept (PoC) 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.
Since 2019, with the support of industry partners AX has helped 40 tech startups across 14 countries and 12 industries access critical investment, mentorship and support.
One of those to benefit from the programme is Scottish-based Aiber, which develops first response kits to support non-medical professionals in environments which are remote from immediate medical care – such as an aircraft at 37,000 feet.
“The accelerator team informed us at the beginning that the aim was to ‘create unfair access to the industry without unfair outcomes’, and they are facilitating that just excellently,” said Anne Roberts, co-founder and CEO.
“The programme is a well-defined balance of 1–2–1 industry-specific mentorship with broader content that benefits companies at varying stages.”
Since launching, startups involved in the previous AX cohorts have gone on to raise over £200 million in additional funding and create over 750 jobs globally.
Organisations to work with past cohorts as partners or mentors include, but are not limited on to, PWC, Frazer-Nash, Chevron Technology Ventures and EasyJet.
Subscribe to the FINN weekly newsletter
