The Association of Aerospace Industries Singapore (AAIS) signed a Memorandum of Understanding (MOU) with global aerospace startup accelerator, Starburst, to develop the Singapore Aviation Tech Accelerator. Supported by Enterprise Singapore, the programme will be announced in the second quarter of 2020, with the selection of the start-ups slated for the third quarter of 2020. The agreement was signed on 12 February 2020 on the sidelines of the Singapore Airshow.
The Starburst Accelerator has locations in San Francisco, Los Angeles, Montreal, Paris, Munich, Tel Aviv, Singapore and Seoul. The Singapore Aviation Tech Accelerator Program will leverage Starburst’s global network of aerospace corporations to further Singapore’s position as a center for aerospace and aviation excellence. The programme aims to develop start-up enterprises based on their potential to provide solutions to air transport problem statements in areas including air traffic management, passenger experience, cybersecurity, mobility, connectivity, data analytics and artificial Intelligence.
Selected startups will go through a 90-day Starburst Accelerator boot camp which includes hands-on mentorship, preparation and access to Asian venture capital firms for the seed funding. To further support graduated start-ups, Starburst has chosen to partner with AAIS for the late-stage programme. As the leading industry association in Singapore, AAIS will support graduated start-ups by providing deeper links to the local aerospace and aviation industries, bespoke advice and mentorship on regulatory, operations and business issues, market access through its international business platforms, and others.
(Source: Association of Aerospace Industries (Singapore)