San Francisco-based venture capital and consulting firm Starburst has launched its first Aviation Tech Accelerator Program in the city-state Singapore. The program is supported by Enterprise Singapore, Singapore Airlines, SATS, and Panasonic Avionics Corporation, with mentorship support from community partners, including the Association of Aerospace Industries (Singapore), Microsoft, Cocoon Capital, and HFW.
Accordingly, the Aviation Tech Accelerator Program will support 10 promising early-stage aviation startups per year through an intensive 13-week program with top-tier mentorship from partner corporations as well as experts from the Starburst mentor pool. Participating startups will also have access to support from Singapore Government regulators and venture capital networks. The program’s goal is to prepare the startups for seed-stage funding opportunities and groom them to navigate a path toward an initial public offering of stock.
Mr. Law Chung Ming, Director for Transport and Logistics, Enterprise Singapore said, “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. Held in Singapore, Starburst’s inaugural Aviation Tech Accelerator Program in Asia comes at an opportune time when the sector is looking to reinvent new ways for air transport and build Singapore’s next generation of talent through partnerships with the local Institutes of Higher Learning. We look forward to collaborating with Starburst to add vibrancy to Singapore’s aviation sector.”
(Sources: Starbust; Flight Global)