Aviation startup accelerator launched to attract innovations to local industry

AN accelerator programme launched on Wednesday is expected to benefit Singapore's aviation industry by attracting startups with innovative solutions from around the world to the Republic.

Launched by global aerospace and defence startup accelerator Starburst, the Singapore Aviation Tech Accelerator Program aims to champion technology and innovation in Singapore, and strengthen opportunities for future innovation, disruption and partnerships.

The programme plans to accelerate 10 promising aviation startups per year from a global pool of applicants. They will undergo a 13-week programme that includes mentorship from participating corporations and Starburst's global and local network of alumni.

It is supported by Enterprise Singapore (ESG), Singapore Airlines (SIA), Sats and Panasonic Avionics Corporation. Participating corporations and community partners include the Association of Aerospace Industries (Singapore) (AAIS), Microsoft, Cocoon Capital and HFW.

ESG assistant CEO Satvinder Singh said the programme's main objectives are to promote co-innovation between startups, small and medium-sized enterprises and large corporates, develop the aviation industry's next generation of talent through partnerships with local institutes of higher learning (IHLs), and position the local aviation scene for recovery and growth.

He noted that Starburst has a strong track record in the aviation and defence sectors, having accelerated more than 400 startups in these industries over the past eight years. "My team in Enterprise Singapore is fully confident that Starburst will attract the best of startups to participate in this accelerator programme in Singapore, and in doing so, bring the vibrancy and energy that we all need now," said Mr Singh.

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Starburst CEO Francois Chopard said that Singapore has emerged as a top place globally for doing business and growing startups, and Starburst is keen to support and grow the startup ecosystem here.

"We're sure that we'll find great talents and great emerging startups that will be excited to work with us, creating an ecosystem and bringing confidence about that ecosystem to financial communities," he said.

In addition to mentorship from the partner corporations, early-stage startups will get support from Singapore government regulators and access to Asian venture capital (VC) companies for seed funding stages, as well as a global VC network for later stages.

Participating in Starburst's accelerator programme has helped in-flight shopping startup Airfree gain credibility, access fundraising more easily and obtain guidance on business decisions and strategic direction, said CEO Etienne de Verdelhan.

He noted that large companies in aviation are naturally more conservative and risk-averse, making them more wary of working with startups. For example, they are concerned about security and compliance, and expect proven solutions with long track records. Sometimes, they are also unwilling to pay for solutions at their real value.

"These are significant challenges for early-stage startups like us... The three years of working with Starburst have been instrumental in managing these collaborations," Mr de Verdelhan said.

The accelerator programme will focus on challenge areas shared by companies in the aviation system, and look at technology that can enhance the passenger experience and bring passengers peace of mind in view of the Covid-19 situation. Such technologies would help to position Singapore Airlines Group and Sats for the next upturn, Starburst said.

George Wang, senior vice-president for information technology at SIA, said the company is glad to be a corporate partner in the programme, as it is passionate about nurturing emerging aviation technologies and the next generation of talent. "Collaborating with startups and further elevating our strong ecosystem will help us to emerge stronger after the Covid crisis and strengthen Singapore's position as the aviation hub in the region."

Said Law Chung Ming, director for transport and logistics at ESG: "The Covid-19 pandemic has underscored the importance of innovation in the aviation sector to develop new capabilities, spur transformation and introduce new business models."

He added that the programme "comes at an opportune time" as the sector looks to innovate in air transport and build up Singapore's talent pipeline through partnerships with local IHLs. "We look forward to collaborating with Starburst to add vibrancy to Singapore's aviation sector," Mr Law said.

Applications are open from Sept 2, 2020 to Oct 30, 2020. More information can be found here