The latest startups to join the ATI Boeing Accelerator have been announced today with 10 companies joining the programme. The startups for the second cohort were selected from nearly 200 applications, from more than 40 countries and range from Hull to Queensland, and the US to Germany. Providing solutions for the aerospace industry such as software to support inflight medical events and emergencies and behavioural science technologies to reduce airlines’ greenhouse gas emissions.
To date, the nine companies that have been a part of the ATI Boeing Accelerator’s first cohort have raised over £8M, created more than 60 jobs, and received £1.2M in grant funding in the final quarter of 2020. They have gone on to partner with businesses including Rolls-Royce and Chevron Technology Ventures. Most recently, Intellegens, part of the first cohort to join the programme, has announced it is leading a new project in partnership with Boeing and the University of Sheffield, applying it’s machine learning technology to make the additive manufacturing (AM) process of metallic alloys for aerospace cheaper and faster, to support net-zero targets for aviation.
The accelerator was created in partnership by the Aerospace Technology Institute and Boeing and is delivered by European accelerator Ignite. GKN Aerospace is the programme’s corporate sponsor and Rolls-Royce recently joined as a programme partner. The first cohort was in person in London and concluded just as Covid-related travel restrictions were beginning. The second cohort will be virtual.
Of the almost 200 applications, 90 per cent of the businesses applying were focussed on Industry 4.0 technologies and products, while 10 per cent were providing sustainability-focussed solutions. 44 per cent of the applicants were from outside the aerospace industry, 26 per cent of the founders were female, 42 per cent were minority-founded, and 33 per cent were first-time founders.
Gabriela Matic, Programme Director of ATI Boeing Accelerator, said, “The quality of applications for our second cohort was exceptional and we’re delighted to welcome our 10 new startups to join the programme. Like everyone, we’ve had to adapt our ways of working due to the pandemic and we noticed an increase in the number of companies applying from outside the UK as virtual programming becomes more common due to restricted travel. This period in time also presents a great opportunity for startups, and for our partners in aerospace, to work together and solve industry problems.”
The startups benefit from a possible £100,000 equity investment from Boeing HorizonX Global Ventures and access to ATI, Boeing, GKN Aerospace and Rolls-Royce strategists and technical experts. Mentoring is available from a global network of experienced entrepreneurs, mentors and investors, and introductions will be made to the programme’s network of angel investors, venture capital firms and the wider aerospace industry.
The 10 startups joining the programme in January include:
- Ai Build (London, UK) Has developed an AI-powered software platform that delivers the world’s fastest and most reliable large-scale additive manufacturing
- AireXpert (Buffalo & Minneapolis, US) Enables real-time collaboration tools for airlines and other aircraft operators to reduce delays, lower labour and operating costs, and reduce compliance risk
- Datch (San Francisco, US) An intelligent voice AI for industry, enabling frontline workers to capture system information using voice in real-time and intelligently integrating into company databases
- HiiROC (Hull, UK) Unique and innovative plasma technology enables a low cost and low emission process for synthetic fuel and hydrogen generation
- Makersite (Munich, Germany), A cloud-based product management platform that uses artificial intelligence and graph technologies to understand and improve products from the perspective of their regulatory compliance, environmental impact, supply risk and cost of production
- MIME Technologies (Edinburgh & Inverness, UK), Remote medical software to support inflight medical events and emergencies, specifically designed for altitude
- Phycobloom (London, UK) Using synthetic biology to reduce the cost of algae biofuels by forcing them to secrete their oil where it can be cheaply
- Productive Machines (Sheffield, UK), Delivers software that maximises sustainability of machining processes by reducing costs, eliminating waste and improving productivity
- SensaWeb (Queensland, Australia), Real-time radiation monitoring solution
- Signol (London, UK), The world’s first software to use behavioural science to reduce airlines’ greenhouse gas emissions and increase profits and job satisfaction
The second cohort comes from three continents, 40 per cent are female and minority ethnic founded, 40 per cent are first-time founders, 40 per cent are from outside the aerospace industry and 20 per cent are re-applicants. Six of the startups are sustainability-based, two are focused on Industry 4.0 and two are focused on energy. Collectively they have raised nearly £13 million to date, with 20 per cent at the pre-seed stage (bootstrapped or grant-funded), 40 per cent at seed stage and 30 per cent beyond the seed stage.
Brian Schettler, Boeing HorizonX Global Ventures, Senior Managing Director, commented: “We’re thrilled to be leading this programme again with ATI, especially given the focus on sustainability. Boeing is committed to developing innovative technologies and solutions that allow for safe and sustainable air travel for generations to come but it takes partnerships and collaboration like this to be successful. Given the success of the first cohort, I’m confident that we will again work together with these startups and program partners to address our industry’s most critical issues.”
Gary Elliott, Chief Executive of the Aerospace Technology Institute, added:The ATI are very excited to welcome ten innovative startups to the second cohort of the ATI Boeing Accelerator. This year’s programme will be in a different environment to last year’s. We have moved most of our content to the virtual world and we’ll be making connections digitally rather than in person. We’re also pleased to be joined by Rolls-Royce, who will provide an excellent team of mentors and experts alongside our existing programme sponsors – Boeing and GKN Aerospace.
“Despite the challenges that the sector continues to face, we must continue to find areas of innovation and growth as the world slowly but surely recovers from the pandemic. This accelerator programme is an opportunity to bring innovators, investors, experts and entrepreneurs together in the same (virtual) space. Good luck to each of the ten startups in this year’s cohort and we look forward to working with you in the coming months.