Aerospace Xelerated: Ask Us Anything

Aerospace Xelerated: Ask Us Anything

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Welcome everyone to our ask us anything  session. This is really to introduce aerospace,   accelerated to everybody and help answer any  of your questions about the program and what   we're up to. So today it's me AeroX program  manager at Aerospace Xelerated together with   Nicola Bates, the managing partner and  Jacqueline Davidson, the program director.

Thanks for being here, everybody. So Aerospace  Xelerator, just to kick off it's a three-month   program and based in the UK, but open to companies  globally, we're looking for seed to series a   startups working on autonomy and AI solutions. So  we've got six core. Assured autonomy, autonomous   navigation, generative design, smart maintenance,  adaptive learning, and reduced workload.

We've also got a separate bucket for novel AI  applications that may not fit into those six.   So I'd love to hear from those startups as well.   So today we'll cover a little bit about  program structure, curriculum investments   kind of corporate access, and any other  questions you might have to kick off? Maybe we can talk a little bit about  the application. I know this week,   we've gotten a lot of questions from startups  about how to best fill out the application   how to make yourself stand out. So  I can kick off a little bit on it.   The application form is very extensive,  but it's really important for us. So we can make an informed decision on whether  you're a good fit for this program or not.  

From a previous cohort, there was a  founder that gave some excellent advice   on how to apply and he got in. So it's worth  listening to this, this kind of advice. And   one thing he said, for example, was the aerospace  specific make it easy for us to envision a POC. That's really important. Another one was make sure  you're really talking about the solution you have   for this industry. And another, the thing  is also highlight why this accelerator is  

strategically important for you and what you'd  like to get out of it. So I think those are all   very important things. Another question that we got   what does the investment from Boeing mean? Could  you talk a little bit about the a hundred thousand   pound safe note? So I'll hand it over to  Nick and Jacqueline to answer that one.

Sure. Yeah, so it obviously is a a direct  investment from, from the Boeing company. And as you pointed out, it is, it is a  safe investment. So it's just a simple   agreement for future equity, which means  that. What we're really doing is providing   and providing the, the capital upfront. And  we'll, you know, we'll, we'll deal with the   conversion to equity at a later date when  your company's a little bit more mature.

And so for us, it's really about being  able to provide you that investment   really quick. And in terms of the timeline  for that investment, we, we hope to get. The   cash through to you sort of mid to  end January. So just a few weeks   after the program has actually started.  And that's really important to us as well,   that you know, where we're able to get you  through the process, do our due diligence.

So it is a real investment from  the Boeing company. You will have   to go through the due diligence process,  but we try to do that in a very short,   coated fashion. And so that we can get  the funds to you as quickly as possible. And just to add to that too, once you,  once you do receive the Boeing investment,   you will be loaded into the supplier database. So that investment comes with  a lot more than just, you know,   financial commitment. It does come with  the opportunity to have ease of access   to proof of concepts. So if there is  opportunity to do a proof of concept,  

With Boeing, it makes that process a lot easier  once you're loaded into our supply chain. And I will say too, that our commitment is when we  make those financial investments with a safe note,   you are considered in our portfolio. So we  are dedicated through portfolio development   to help and support your business.  Even beyond the three month program. Amazing. Thank you guys. And another question  that we got that I think is worth kind of   following up on, you mentioned due diligence,  does the due diligence happen during selection   process and is it possible to participate  even if one is not interested in this. So I'll answer the second, but first yes,  it is. It is possible to participate,  

even if you don't want to take the  investment. At this stage, you know,   our hope is that you get to work with us.  You love working with us and we get, we get   an opportunity to invest in your company.  In terms of the due diligence process.

I suppose, you know, if I'm honest, that really  starts from the, you know, from the first contact   that we, that we have with you in terms of  our our, our due diligence process. And that   said that the formal due diligence will happen.  Once you sign the the program agreement on,   you know an indicate to us that you  want to move ahead with the investment. So it does happen in December. We know that's  a busy time for everyone. But I will give you  

four award and that, that, that, you know, th  the quicker that obviously you can get all of   that data back to us. The quicker we can get  you through that process and get the cash out. Perfect. Thank you so much for sharing that. Got another question. So what does the  application process look like? So we   kicked off the application period this Monday.  So 23rd of August. The application window is   five weeks. So until the 26th of September, I  believe. And there there's several stages. So   the first stage is really you sending  in your application, filling it out.

The program team will typically follow up kind  of set up a virtual meeting to get to know you   and your business. And essentially at this stage,  figure out whether you're in scope for the program   or not asked for the long listing you'll hear  back from him. Before or by the 25th of October. And from then we continue having  follow-up conversations. This is with   like Boeing and industry partner technical experts   kind of strategic commercial conversations as  well. And then shortlisting happens and we select   20 startups to be invited to our selection  day, which is early. And then that's it.

We select eight to 10 startups for the cohorts  and to kick off the program in January, 2020.   So that's us. I think we have one question  that we got through the Typeform is   we have been developing an  AI engine for the purpose of   a manufacturing made smarter marketplace  and believe it could be tuned for aerospace. What a project that has had grant  funding, but no revenues quality.   Nick. Do you want to answer that?

Yeah, potentially. And obviously we would need  to have, you know, have more specific details   on that, but because of has, because there  is no revenue is not a barrier and in this   program at all, what we're really interested in  is obviously in the, in the longer term potential. And so while I say that, you know, it doesn't have  to have revenue right now, obviously. This is,  

as we've seen from previous two cohorts, it's  a very, very competitive program. So do you get   in touch with with the program team? I am. There  are M a sessions available to have one to ones.   And in advance of putting in your application,  do you make use of that because they will really   help you ship you know, the sort of details  and help you pull out the sort of details that   we really need to see to, to ensure your  application is as competitive as it can. Absolutely. And we've had other questions also  around, you know I'm applying and what kind of  

thing do you want to see besides us being  a seed to series a stage? How else can we   best fit into the program? And it's really  demonstrating traction that you've had,   even if it's not an aerospace, talk to us about  what you've done in other sectors as well. So that will be really great to see  through that application process.   Another question was around eVTOL. So we are an  Indian, deep tech startup. We're working on urban   air mobility and building eVTOL. Are we eligible  for this program to get into the accelerator? And so if this question, I'm  not seeing the questions,   but if this question is about you know, a  mobility platform like a vehicle, then no,   that's not the sort of, that's not the  sort of company that we're looking for.

And during this program, and we, you know,  The sort of startups that we, you know,   are, are likely to be able to support.  Are those more software-focused companies? Absolutely thinking Nick. And one other question  we have here is more of a technical question.   If you can answer it, it's what TRL level  do companies need to have to be accepted   or if there is even a TRL level  that you're looking for specific.

Yeah. So we like to see  normally TRL three and above.   However I say that with the caveat, I don't want  to preclude anyone because we have taken companies   where, you know, they just recently incorporated  three weeks prior. So I would say really focused   in on the applicability of your solution and to  the pain point of the aerospace sector today. I know that, you know, the aerospace industry is  ever evolving and ever changing and is more open   and adaptable to change now more than ever.  So I say TRL with three with the understanding   that even if it is outside of that, and you  think you have a real pain point to solve,   then definitely apply and definitely  get in touch with the program team.

And we would be happy to consider your application just to add to that. You know, if you  are in that situation where you are,   you know, a little bit earlier, right? You know,  really think about what you would like to achieve   in that 12 week window, you know, and what we  could really do to help you, because obviously,   you know, it is you know, once you would  be part of our portfolio going forward,   it is a very concentrated  effort through those five weeks. What we don't want to do is put it in there. If  you're not ready for that, you know, for that,   that intense 12 week experience, you know, we  will, you know, we will continue to run programs.   This is not, you know, a one off. So please think  about whether you know, whether you're really  

ready to make that commitment to this program,  because it is, it is it is an intense experience. Absolutely. Thank you both. And here we have  another question. Is the accelerator format   hybrid, both virtual and own location?  Yes. Yes, it is hybrid. We would love to   meet you all in person and make those kinds  of industry connections. Also in person  

in an ideal world, that's what will  happen. And that's how we envision it. We are always looking at kind  of government guidelines,   both here in the UK and abroad to make sure that.   You know, it is a possibility that it can  happen. We we'll see what happens January 20, 22,  

of course keeping a close eye on that. But yes,  both a mix of virtual and in person in person,   particularly at the beginning of the program we're  starting to build those industry connections. But yes, it's not every week. We  know you need to run your business.   So it's really kind of a little bit  here, a little bit there, and we'll,   we'll kind of let you know, towards the start  of the program, what that really looks. And if I can add to that too, I think, you know,  I saw some ads comment in the chat box about,   you know, shout out to this  being an all female panel. And I think that's the key  element of why we're thinking   of making a more adaptable it's being  hybrid because in the last cohort we saw   a significant increase in the amount of women  that applied. So we definitely don't know.  

Eliminate anyone from being able to participate,  regardless of whatever their situation is, we're   really looking for the best and the brightest  out there, whatever their situations may be. And we'll work with you to make sure that you can. Absolutely Jacqueline. Thank you for pointing  that out. That's very true. And of course it's   a global program, so we're going to try to make it  work for everybody no matter what, where you are.  

We had a very global hurt last year  with teams of the us and Australia,   and that made were really exciting for weeks. Definitely. Let's talk. Okay, so there's  a question. What about industry partners   and sponsors for this upcoming cohort? Nick,  do you want to talk a little bit about that? Yeah, sure. So yes, I, I did see the question that   the ATI aren't ambulating the program this  year. So what, we've, what we've done it on   really as a Testament to the success of our,  and of our, of our previous two cohorts. And I'm really all credit to those teams for, for  supporting us in that regard, it was always our   vision and that the ATI Boeing accelerator would  transition to be an industry led initiatives.  

And that's just happens a lot quicker  than, than any of us and kind of expected.   We continue to have support from UK  government and to run this program. But it is an industry led program and over  the coming weeks, and we will be announcing   the industry partners and that that will be  joining us this year and it will still and have   an aerospace focus, you know? Absolutely. And,  but if you look at those the, the things that,   that we have have created, we have created  those you know, in conjunction with our,   our, our industry partners, that, that we'll be  able to release those names in the next few weeks. Absolutely. Thank you. Another question is  we get this question often. Do you accept  

two potential competitors onto the program? What  I would say is once we once applications come in   and we start looking at them it's inevitable  that there will be overlaps under each theme.   But we as a selection committee, we have  a ranking kind of exercise where we rate,   assess each startup to, to avoid this happening. So. We really want to give an opportunity  for every startup to collaborate with Boeing   or industry partners. And so to avoid having  like eight to 10 smart maintenance companies,   for example, we do this exercise to make  sure we're selecting the best of the best.   And I kind of have a varied cohort.

Yeah. And just to, in addition to that, cause  then I would also, you know, if you think that   that you're potentially competitive with any  of the teams from our previous two cohorts,   please take a look at that as well and think  about how you would differentiate yourselves,   you know, yourselves from them as  well, or how you would work with them. You know, given that there, you know, they're  a little bit ahead of you in this process. You  

know, it'd be really clever to think about how  you could actually partner with some of those   and those teams that we already have in  the portfolio, through our accelerator. That's a great point. And you can find out more  about a portfolio companies on the website. So we've got it all there.  If you have any questions,   you can all be obviously email us,  but all the information is there.  

Okay, let's have a little luck. Another  question we often get is is the accelerator   focusing on software hardware or both? We are  a software business with hardware elements. Are we still in scope for the program? So  yes, we we've explicitly said we're looking   for software businesses for this program  software because of the time. It's 12 weeks   and we want to start exploring POC opportunities  within this timeframe. That said there have been  

software startups with some hardware  elements that have applied previously. So please, if you think that  you fit under these themes,   but you do have some kind of hardware elements  do apply, we do want to see your application.   And just to follow on from that say, you don't get  a spot on the accelerator. We'd love to help you  

as we can and introduce you to the wider ecosystem  to see if there's opportunities elsewhere. I don't know if Nick and Jacqueline  have any additional thoughts on that. Yeah, I think that, you know,  whenever, you know, as you said,   you know, we are very much focused on the  software and that said we have had some.   Some teams that have been successful in the  program that are not software at all. And so   please do get in touch with us and have a  chat if it's something really interesting. You know, we're, we're more  than happy to to consider it,   you know, we can, we can certainly pull  things through in terms of a live card.  

Kind of famous as well. So, you know,  do, do get in touch with us, you know,   talk it through with the program team. I think  the thing to keep in mind always is that we really   want to be able to do something to support you  and accelerate you during that 12 week window. So if you can, if you have a pretty  defined kind of vision of what that,   what that would be in that 12 week window then,   then that would, that would really help you  to be successful in the application process because at the end of the day, time is your  biggest reason. So, you know, it at the end  

of the 12 weeks, if you don't have a clear ask  of what you could get out of it, then I think,   you know, we want to make sure we're mindful  that we are helping you in the best way possible. So hardware tends to come with the challenge  as time goes, especially. The COVID pandemic   and everything that, you know, the world is  facing today with logistics being a problem,   and a pain point in this being a global  program, however that doesn't limit you,   if you have a very specific application.  So just take a look at the themes and then  

you know, we're happy to chat if  there's anything that you're unsure. Yes. And on that note, yeah, we were running  office hours. So if you look at our website,   you can book in talk to the program  team tell us about what you're building.  

We can kind of help guide you, direct you and  answer any questions. So, so do that as well.   Everything's on our website just to Ah. Okay. So it sounds like you're only interested in  software AI technologies. Is that correct? Or are   you open to other innovations? Yes. The theme for  this cohort is AI and autonomy. You can find out  

more on our website. So have a look there. Let  me just look up other questions that we've got. Okay. How advanced should the proof of  concepts be? Do you expect a functioning   prototype? That's an excellent question.  Next, Jack. On your ticket. And no, not necessarily, you know, because  obviously we're not, you know,   we're not just looking for proof of  concepts in the sense of, you know,   being able to deliver, you know, a trial  or a proof of concept to an end customer.

For example, you know, Boeing has, you know, such  a range of opportunities. You know, we have our,   and Boeing research and technology group, you  know, that look at very early stage. Perfect   concepts and technology demonstrations.  So it may be in not space that, but you   want to test the technology maybe with some  supervision, from some of the Boeing experts or,   or our Boeing champions or, or equally it could  be something that's, you know, ready to go.

And we're, we're kind of open  to any of those things. I would also say there's many layers of our supply chain.  A lot of our business is in our supply. So think   about it in the sense of if your application is  further along in, down into the supply chain.   We're happy to make those introductions because  you know, if it's even a small you know, proof   of concept there that can grow into something  larger, once you get up to the OEM level, that is. You know, we're happy to  support that as well. Whatever  

is making whatever is making  the aerospace ecosystem better   is a win for us. So regardless of how small  or how big there's really no limitation there. Absolutely. Thank you both for  that. Just have a quick look. Beyond the industry partners on aerospace  accelerated, will we have the chance to   connect with other space companies?  You've touched on this a little bit,   but maybe you guys can talk a bit more about that. Yes. So really from our perspective,  we w we want to use this, you know,   that use this program and  these 12 weeks with you too.

So, you know, to really supercharge your, your  network. And so we will provide you access to   as many people across the aerospace  industry is, as we think is relevant,   you know, we're very conscious of you  know, trying to help you guys from the   point of view that we don't want to waste a  lot of your time with a lot of conversations. So during the 12 week process, you  will be exposed to lots of mentors   and not just from aerospace. So, you know,  the program team, but also pulled together.   You know, some really high quality mentors and  experts, you know, from the business and rather   than the aerospace or, or technical and on  those are hugely valuable for you as well.

And all of those people there.  And when they come in there,   their job is to really help act as a  kind of a filter or a connection point   and to help understand where the Boeing company.  Just on its own is, you know, I watering a huge   so being able to connect you with lots of  people there but the more specific you can be. Who you want to talk to or  who your customer focus is.  

And the more that we can help you,  obviously, Boeing has a huge supply chain   right across the world. And if you can  say, you know, we want to talk to this   company and this location, or we want to talk  to this individual you know, just let us know. We'll be able to, through our internal networks,   be able to reach out and find the best way  to get you connected and to those people.

And I'll say to you, I think each of each  program is bespoke and unique in and of itself.   So it's not to say that our, you know, mentor  list or our Rolodex of contacts, contacts. Specifically baked into each program. It  is very specific to the 10 companies that   we choose to take in and we choose to work with  and huge kudos goes out to our program team for   really finding some of the best and the brightest  to be able to mentor. And it's the mentors that  

we've had in the past, beyond Boeing are not, you  know, specific to our Aero ex accelerated mentors. They are really specific to  each cohort in of them. Okay. Absolutely. Thank you. We've got a question here.  Can you give us an example of things that we could   tackle during the accelerator during the 12 weeks?  And should we put this into our application?   I'm going to assume this is about program  curriculum and what's going to be part of it. During the trial. So we have a pre-program survey  where we ask you what your needs are. We really  

want to be able to deliver and, and, and help  you during the 12 weeks. So it could be anything   around product marketing, sales fundraising  business model, like literally anything.   We ask you, you let us know, and then we  shape the program curriculum based off that   But at the beginning, you've got kind of  three weeks of meeting industry partners   and meeting with your champions.

Then you've got   all of the other kind of workshops and sessions  we have planned towards the end. We do a lot of   kind of meetings with investors. So that speeds  style speed dating style mentoring. For example,   we have a demo day at the end. So these are  just some of the components of the program. And yes. We'll ask you that before the program  starts make sure we shape it based on your needs. And I think if you're talking about shaping  from a proof of concept standpoint that,   cause that's kind of where my  head went right away. I was   chuckling a little bit, cause I was  like, how much time do you have? I'll give you loads of things. But no,  I, I, I will say something we've done in  

the most recent cohort that. You  will be afforded to this one as well,   is our champions will come in and share  some of their pain points that they're   having. And so you will get direct access and  insights to subject matter experts that are   working on real life applications,  because we don't want to waste your time. We want don't want to send you on a road  show throughout our business and, you know,   pitch to numerous different stakeholders. We  want to bring the stakeholders to you. Tell,   have them tell you their pain points so you guys  can do what you do best and that's innovate. So.   I think, you know, hopefully that'll  make your lives a lot easier throughout   the program and hopefully it'll  make it so you can think about   how to adapt your technology to real  life point rather than the reverse.

Absolutely. Thanks, Jacqueline.   Investive question. Does Boeing  usually do follow on investors? And we have done. Yes. And, and it really  depends. So there's, you know, there's, there's,   there's kind of two options. One is, you  know, a, a very simple extension of the safe  

and the other is a a full, you know, a  full equity investment off, off the get go. So it really depends on the  situation. The key thing though is,   and this is a game where the more specific  you can bajur. Process or program the better,   because what we really need to do is very,  very quickly get you that that traction   within the Boeing company because as part of our  investment process for, for follow-ons through   either route is really to, to make sure that we  have established that pole from the business. So. It's not just all saying, we think, you  know, we think this is a great investment,   but we also need the business to be saying,  this is a technology that we just can't live   without. We absolutely need this. And  we, we want to continue to invest. So,  

so that's where you know, the  quicker that we can do that,   the quicker we can get into a where we  would be able to make that follow on and. Thanks, Nick. So during this webinar, we  actually have an alumni with us. We've   got Simon Morris from Highrock. Who's joined  us who will shed light on his experience on   the program. So let me just bring him in.  Hopefully he sees that on the screen. Now give him a second. There he is. Simon.  Can you hear us? We can see you.

Yeah, very well. Very well. Thank you so much for  joining our, ask us anything session.   Awesome. So first before we start asking you  any questions who are you and what does hybrid. So I'm Simon Morris. I'm the chief  commercial officer of Highrock limited,   and we are developing a new technology for  clean generation of hydrogen from hydrocarbon.

Our past synthetic aviation fuel as well. Awesome. Thank you. Let's go back  to the very beginning. Maybe. What   was your motivation for joining aerospace  accelerated formerly ATI Boeing accelerator? The motivation was that we were at a point  in our development where we felt that   exposure to some very large  companies. With the right sort   of strategy towards the carbonization  the use of hydrogen in their industry. And the view that aerospace,  even though it was more   long-term for hydrogen, that we had this idea  around the potential synthetic aviation fuels   in terms of where we were as a company,  we just felt it was the right time   to be starting that engagement with these  companies at that point. And out of that, Amazing.

Yeah. I still remember our first, our initial  conversations before you joined the program.   And how was your overall experience during the  12 weeks? Any highlights that you want to share? I think the whole experience was  fantastic. I mean, of the team,   I was probably the most skeptical  about doing the accelerator. I've been involved in a number of accelerators  before. Which hadn't really accelerated anything.   This was vastly different. This was something  where it was full on. I mean, there were   the sessions where we were doing  the the Boeing week in particular   obviously with a lot of folks borrowing out of  in Seattle, there was a very light finish sort.

The two, three nights running,   it was really full on. The exposure to people  who you normally wouldn't get the chance to   talk to. The engagement from the people that we  spoke to is incredible and the real interest,   it wasn't. I always felt it was going to be a  bit of a box ticking exercise, maybe even a bit   of greenwashing from the companies that we were  dealing with, but it wasn't like that at all.

It was, it was real interest and real  engagement and, and it really worked. Amazing. And were there any, where the,  was there anything new that you learned   maybe around team culture or  sales or anything like that? Well, not being the brightest kind of learn  everything. I learn something every day anyway.   So yeah, we've done a lot. I mean, particularly  as we've grown very quickly as a company,   I mean, when we started on the  accelerator, We were seven people.

We're now 35 people. So just, just about the  operational side about. Making sure that you   have the right approaches towards  diversity when you're recruiting.   Those sorts of things were invaluable because  they're the things you explained. You take  

your eye off the ball when you're building a  company you're so focused on the technology. You're so focused on fundraising. You forget the  things that can contribute up as you go along,   start to have those sessions  where were particularly useful.   But y'all learned something every day because  you're starting from a very low point, so, oh, we're glad to hear that. I  know we're very happy to hear that. So we've got a lot of attendees on this call   people tuning in what would be your advice for  those wanting to apply to this next cohort? If you're going to apply. Thank you  seriously. I think that once we took   the decision that we were going to go for  the accelerator it became a high priority.

There's no point going at it half heartedly.  If you're going to do the application   really work at the application, really think about  the application, putting in and make sure you give   it everything. Otherwise don't bother because  the, the competition is so high. You've got to   give it your best shot. And then when you're on  it, you've got to give it your best shot again. I think that as a company, I think we normally had  at least two or three people on every session. And  

I think the two or three people were involved in  that got a lot out of it. So it's, if you're going   to do it, do it go full tilt. Don't hold anything  back. And yeah, I mean, w we really enjoyed it. I've made a lot, very good  friends through the process   as well. So I would recommend it very hard. Thank you very much. And one of the questions  we got from these before also was, you know,   how was the post-program support. And of  course we can talk about it, but maybe  

you can talk about it more from  kind of the alumni perspective. What did you feel about the  post-program support and kind   of how we're supporting you now, even today? Well, again, I think it's important that you  engage with the people you're dealing with.   I think if you don't fully engage and get  to know the people and understand what they   are trying to achieve from the program,  you're not going to get much out of it. I think if you put the time and effort into  understanding the companies themselves,   the sponsor companies trying to achieve then the  support comes naturally because you're following   the side. So I mean, for us, we've had GKN Rolls  Royce. We're all we're talking to all three   companies, still various stages or investment  or potential investment or collaboration. And the support from you folks.  Obviously the Metta folks has been  

just wonderful. I mean, I'm not going off script  a bit here, sending out now. It was, it's been. Amazing. No, thank you so much for sharing  that experience. We've got if you have any   questions for Simon, please just pop them  in the Q and a, because he's still around.

He can answer anything for you  from an alumni perspective.   We've got another alumni on the line.  I don't know if Andy is still here. No,   I don't think so. But he asked a question. He  said, do you work with other accelerators and   programs in that ecosystem that are designed  to facilitate. Pathways for early companies. Nick, do you want to answer it? Yeah, so we do work with we work  with a range of other programs   and for us, you know, this just isn't  in the UK is as casinos pointed out.  

So Jacqueline and I spent an awful lot of  time and engaged with, with other you know,   programs and. Corporates that are in a  similar position to us that have maybe   a slightly different ASP, you know, slightly  different focus or slightly different approach. And you know, we, we work very  collaboratively with everyone   and we're really open to working with anyone.  And so we have no limits on that at our side,   and it's really important to us. So  even, you know, like even this week,   Jacqueline and I are in are in QA and  we're talking to you know, ecosystems. I kind of champions here and we're always talking  about our, our portfolio potential opportunities,   you know, to, to work with our portfolio was  why also there's a whole range of people,   you know, whether that's through, you know,  corporate networks, whether that's through our,   you know, our work in terms of supporting global  ecosystems or whether that's through you know,   just our, our work with our other  Boeing colleagues internationally.

It's very much the case that we want to  try and find the best class and you know,   to help you. And I know that, you know, even this  week, I've, you know, there's been a number of   people who. And got got through to the long list  or got through to the short list the last time   and have got in touch with me again on  those teams, you know, I have seen, and we,   you know, suggested other routes to  maybe programs that suited them better. If it wasn't, you know, the, the right  sort of company for us at the right time.   I should say that when it comes  to our, you know, our final   team a lot of that as well as focused on the  choice of how do we get to that final tan.  

And there's a big part of that, that that  is about by timing as well. It's about,   you know, do we have, you know, upcoming and  priorities or opportunities for those tan. Yeah. You know, and that 12 week window, which  is, you know, which is fairly niche. So you   know, the, those that have been, you know, have  gotten through to the long list or short list   previously, shouldn't be put off because they  didn't make it to the final time because,   you know, in this game,  timing is everything as well.

And so, so please do get back in  touch with us. I know. You know,   we continue on the program team continues to  talk to a very large number of, of applicants.   You know, even right from our, our  first batch and those that, that   didn't quite make it. We still continue to  connect them. We try to keep them in mind.

You know, one thing that is really  our fault, you know, as a, you know,   as a, as a piece of advice is please do you  know set us up on your. And faster updates,   you know, send us a, you know, send us a  quarterly note of where you've gotten to   what else you're working on, because that might  just trigger something for us where we, you know,   we're an opportunity has come across our desk and  it is difficult for us to keep track of everyone. So the more you can kind of keep in  touch with us and keep in touch with   the wider program team as well. And, you  know, we, we will keep you from defined for   different opportunities that  may not be this accelerator. And just to add to Andy's  question of how we work with   other similarly aligned industries or competitors,  or, you know, other accelerator programs. I never, I never fully, you know, believe  folks when they normally say, you know,   oh no, we're not competitors. And  I really struggle with that, but,  

but at the end of the day, I'm, I'm being very  serious in the sense that it's not a land grab.   If you're talking about, you know, very  complex problems like sustainability or. AI autonomy. Boeing alone is not going to  be able to solve those problems and those   pain points and not one individual entity is  you know, 10 years from now. I might be wrong,   but okay. That's my perspective right  now. And I think at the end of the day,  

we need as much help as we can get to make our  world a better place tomorrow than it is today. So at the end of the day, while Boeing side, side  paycheck, I work for you all. So how can we help   you out? Make this a better solution, whether  it's this accelerator, another accelerator,   whether it's Boeing or whether  it's another firm we're having. Thank you both. And to echo what Nick said,  you know, whether you're an applicant from   cohort one or two, we'd love to hear from  you again, if you feel like you fit under   these themes, we want to see how you've  progressed over the last year or two.

And when we want to see how we can help, so  definitely, definitely get in touch. There was   a question around raising around in 2022. How can  you help with that? Several elements go into this.   I think for us, you know we have a very strong  network next, already talked about this a lot,   but we have a very strong network of  early stage investors and angels and VCs. We do mentoring with them and also we help  you, depending on what stage you are. Of   course seed series a, we kind of, we  review a financial plan. We look at   your fundraising strategy. We provide pitch  training. We. Help you in any way we can't  

and then get you in front of investors. So you're  ready for when those meetings kind of take place. I don't know if Nick and Jacqueline  want to say anything else to that. And yeah, so I think that, you know,  there's obviously, you know, Jacqueline   and I are obviously, you know, here from the  corporate investing, you know, perspective   on that. And, but we also have, you know, our,  you know, our venture partners at the, in the   program as well, you know, so you've got, you  know, you've got access to, you know, investors. That are, that are investing every day. You know,   they're, they're looking at teams every single  day. You know, you've got the expertise of of, of  

well and Gabby who have both been  in your state. They both raised,   and they, you know, they both lives for it. So,  and I think that what that does and what you'll,   you know, what you'll learn and, and say from  us and the things time and can attest to this,   we'll be brutally honest with you in terms of  what we, what we, where we think you're right. What we think is a good strategy. But you won't  just hear it from one person. It won't be a,  

you know, and that this is our view and that's  the end. You'll hear it from a range of people.   And I think that gives you the  opportunity to really, you know,   to really get your head around the different  perspectives and on what that should look   like and the sorts of things that you need to  consider whenever you're going into a race. Just one more point too. I think Simon can  probably highlight this a little bit more better   than I can, but you know, what we've seen as far  as resources go look to your own cohort you know,   there's a lot of similarly aligned technologies  that, you know, you guys are all solving the same.   Ish problems and pain points that we've seen  a lot of partnerships within the cohort too. And that's been very successful for, you know,  how do you scale and how do you grow and how do   you kind of think about problems and pain  points around what is realistic to solve   from your own business, but then how can you  help solve a larger problem by combining your   solution with another? So I don't know if  you have anything to add to that Simon,   but I think partnerships within  cohorts is a huge, valuable asset.

Yeah. I mean, w we were on the cobalt  with a company called five Copeland.   They introduced us to a guy, one  of them had been at university with   we're now supporting him in an application  for funding based funding. His technology   is perfectly in line with what we're  doing within the synthetic fuel business. So we're also looking at potentially taking the  investment in his company ourselves. So, yeah, so   as I say, I'm still in touch with a lot of  the people who were on the co with us and   now WhatsApp chat channel is still got pinging  away pretty much every day as well. So yeah,  

those collaborations were established during that  first three months, but they're still going on. Absolutely. That's awesome. Thank you for sharing that Simon.  Yeah, there have been a lot of collaborations,   a lot of introductions made through the  cohort. So that's been really, really good.  

And we hope to kind of continue that through  the next cohort and future programs as well.   I've got a question here. Okay. So what  level of strategic and technical support   can we expect from Boeing and industry partners,  which teams and departments are usually involved? Nick Jacqueline, you wanna take it? That's a pretty, that's a pretty large question.  So it really, it really depends. And, you know,   in terms of you have, you know, this program  gives you full access to the Boeing company,   you know, there are. You know, in one specific  department, it's not in one specific country.

You know, we have colleagues right  across the world from every part   of the business available for you. And  that's, it's really jarring to you to,   to tell us and help us prioritize  where he's best to spend your time   during this program. If you need to chop,  you know, you want to chat with it. Boingo. We can do that. You want to chat with a Boeing  expert in a very niche technology. We can find   them, you know, we have such a range of, of people  that we can, you know, that we can put hands on   and bring through into this program. You know, it  really does need to be driven by you. And I think  

that goes back to the point that Simon may have,  you know, This will really be as successful as,   as you commit to, the more that you can  put into this, the more you can help us   understand what it is that you need and the  much easier it is for us to be able to find out. And we start that process as soon as  we start to read the applications.   So as we start to read the applications  coming through where immediately thinking,   oh, we need that person. We need this  Carson. We need, you know, oh, here's a,   you know, a business unit that we haven't  spoken to before. So the more that you can. Provide us, you know, to begin that process  and get those people lined up. And what we  

learned through our first two coats. Was the  sooner we can engage those those Boeing experts   in the selection process. So when I think of, when  I think of Simon's business, we had we had someone   an expert from inside the business and who was  involved from day one in our selection process   and has been the champion for the  high rock team, the whole way through   it's them that saying, we want to make  the further investment in this team. We think they're awesome. You  know, whenever that's coming from,  

whenever that's coming from, you  know, the actual business unit, they,   the Boeing expert and they failed. Like  they have been part of the process. They   feel like they have skin in the game to to  make sure that your teams are successful. So, you know, the sooner we can  begin to identify that person,   even through the selection process and the  more likely you're to be successful both in,   you know, and getting into that final  tan. And, but also during the program, Rest assured it's not Nick and  I, that are going to be making   the decisions on how you work within Boeing. We are the facilitators.

A session norm one of the days where we were  looking at supply chain and procurement,   and we were going through a particularly  tough time at that point to get some   raw materials. We were put in touch with  somebody in procurement, in Seattle with Boeing,   who then put at somebody in St. Louis. We actually  ended up getting help from somebody in Sheffield. So we started in Seattle when  we ended up about 30 miles east   west of where I'm sitting. So. But that's  the sort of engagement you can get. If you,   if you start talking to people,  you'll just get help. So   I can concur that the the people that are engaging  with, they want to engage with you as well.

It's not. Absolutely. They're involved  at the selection stage,   but also straight as soon as we start the  program, right. We have some very intense   industry partner weeks at the very beginning,  and we have them so that you can meet   everybody. You can start conversations from day  one and continue them throughout the 12 weeks.

So that's kind of how we, we structure  the program. It makes the most sense. Just just one more quick thing is, I mean,  the champions that we've spoken to,   this is a highlight of their job. Like they are  so excited. To speak with you all. And you know,   it's not to say that their day-to-day jobs  are boring by any means that you guys give a   fresh thought and a fresh perspective  that they might've not thought about.

And they get to geek out about something that  they personally love and do every single day   with people who are innovating and  finding new cutting edge solutions   to. There are pain points. I mean, you  know, it's not to say that they're a,   you think it's normally an added Ash that  they're taking a box, but we've seen in the most   recent, the word I'm getting emails all the time  of how can they get involved and how can I help? Because this sounds like a super  fun and exciting opportunity. So it   is because of you all that they're really excited. Thanks, Jackie. We've got a  question here. A specific question,  

but it's around sustainability as well. So  I think it's worth answering. From Philippe,   we are focused on airport technology to boost  sustainability and productivity and the way   to create infrastructure by knowledge  and data. This way the airplanes will   be where they have to be flying, set up  uncongested ground operations and delays. Will this sort of technology  be aligned for your program? Yes. I think the answer, the short answer is  yes, potentially. I think the thing to keep in   mind is to think about does Boeing. And so if  you can be really specific about why, you know,   why would you want to be on a Boeing program and  not a more generic, you know travel type program.  

So or, you know, or, you know, for example,  our colleagues over in IAG on their, you know,   on their program, for example, and we'll  be the one that would come to mind. So, you know, be very specific about   about what you do. And the other thing I would  say to you is go take a look at our portfolio.   And that's regardless. And see how your mum,  you might align with one of the teams that   we have in there. Cause I think that  would be, that would be really important.

Absolutely. We've got a question from  David coming in. Is it possible to get   introductions to the billing network and to  get help identifying the correct sector of   the Boeing network? Even if you're  not selected as part of the cohort? We will do as much as we can. We, you know,   obviously, you know, our, our  cohorts have to be our priority. You know, but if you, if you get  in touch with the portfolio team   you know, set up a session to have  a chat and you know, I think. We w  

we do try to help everyone. But we also  need to be mindful of both your time   and on that of our colleagues. Because you  know, we D we don't want to waste your time. We can give you as much advice as we can,  and in a quick chat, but, you know, again,   the more specific that you can be on the ask you  know, the more that we will be able to help you. Amazing. Thanks, Nick. Investment question  does the money count towards state. No, no it's money direct from the Boeing company. Amazing. Thank you there. Okay. Then  another question around themes. My  

startup fits under more than one theme.  How do I choose which one I should pick?   Can I select multiple? I say select the one that  fits best, but Nick, do you have any insights? And again, just, you know, select  the one that you think is best. I will say that whenever we  get into the selection process   we do actually, you know, look at recategorize  and you know, based on some of the things that we,   that we see coming through and that's true. In  order to help us be able to compare teams that   are maybe tackling a similar problem  might be in a very different way. Or if we start to see which we typically do,  you see little groups of companies that are,   that are all kind of clustered around  to see them and kind of focus area   So we will do that anyway. You know, don't  overstress about it. It is, you know,   it will be a Daybreaker if we think that from  our perspective, you fit somewhere better.

We'll just move you across. So, so  don't stress too much about that. Thank you. Yes, definitely. Don't  just have a look. See what fits best.   Pick that we can discuss further.  Once we actually connect with you  

relocation questions, you have to be in London  for the duration of the program. No, no you don't. We are expecting of course, a level of commitment.  This could be either from the founder, himself,   herself, or a decision maker within the startup.  Somebody who will be building these really. With   corporate partners, industry partners to be  present for in-person content, we'll have a   better idea of that shortly, when that will be how  that will look like it's not London necessarily.

It's kind of across the UK.  So keep that in mind as well. Visa question will I need a visa to come to  the UK? Do you help with visa applications?   We will assess that case by case,  but given the short amount of time   that you're actually coming to the UK It's  not always the case that you'll need a visa   or a business visa. So we'll have to look into  that, but that's something we'll work with you on. Once you get kind of into the shortlist, once   we're already looking at you  being part of the final cohort. And just to add to that, we  are also assessing the COVID-19   pandemic and scenarios country by country.  So again, it's case by case we understand,   and we're cognizant of the fact that, you know,  if you need to quarantine for up to two weeks and   if that's not possible for a one day visit, that  probably doesn't make the most sense for everyone.

So we will work with you all to make sure  we have the best solution for whatever   you know, wherever you're coming  from. So we're cognizant of that. Thanks Jacqueline. Let me just have a  little look at the other questions here.   What is the deadline for the next cohort? The  26th of September. So you've got a few weeks to   pull together your application again, have a very  careful read of that. Take your time to apply.   Right. Let's look here. So will we get a chance to develop POC with  a sponsor that's already been answered,   but then yes, the conversations will start  through out the 12 weeks on the program.  

Obviously 12 weeks is not a very long time.  We're definitely hoping to kickstart those   conversations and of course continue  them even after the program is over. We're still in touch with you. We're still here  to support you the program team, the industry.   And yeah I think these are  all the questions, unless   somebody else wanted to ask anything live.  This is your chance. You can raise your hand  

or pop anything into the chat or the Q and a.  So we'll give you a few minutes to do that. Let me have a little look at  the other questions we had. So another broader question that we had  earlier was is there any sustainability   element to this AI and autonomy? Cohort three  making Jacqueline. You want to answer that? Yeah. I will say, like originally, as I answered  prior, you know, we're looking for the best and  

the brightest solutions for autonomy and AI  that is directly applicable to AP point today. So. Going back to Nick's point around the  ask. We're happy to help as many people   as we possibly can with limited resources,  of course, being, you know, to individuals   and trying to staff our team. How you, if  you have a direct insight on this customer,   that is. Buying Boeing planes is interested  in doing X, Y, Z to be more sustainable.

That's extremely helpful. And that will give  us insights for how we can give you proof of   concepts. However, if you are telling me  that you are developing an AI solution,   that is. You know, going to make the  aerospace ecosystem more sustainable.   That's quite broad and it's very difficult  to understand how to directly apply it.

I struggle with that because on a personal level,  I'm Danish, very passionate about sustainability,   but in the aerospace ecosystem today, we have to  be very clear and precise with the challenges that   the aerospace ecosystem is facing. You have to  be precise and refined with what asks you. Yeah. Because there are multitude of different  problems and pain points to solve. So   finding a directed opportunity where  there's resources allocated is our priority,   because we want to make sure that these POC  opportunities allow you to grow and allow you to   create revenue. So I will say it's not ruled out  by any means or shape or form, but just look at   the problems and the pain points, look at the  customer landscape and try to align it there. And that will make our job significantly easier. Definitely. And this just goes back to the  application, think it through, think where  

you fit best be specific, make it easy for us to  envision how we can work with you that will make   our job so much easier. It'll take you to the  long list, short list, hopefully to the top 10. Be very, very clear. And yeah, so a few minutes  ago, thank you everyone for joining today.   This ask us anything session. Hopefully  we've answered most of your questions.  

If not, we're available over office hours.  You'll find more information on our website.   This recording will be up on our YouTube  channel if you want to rewatch it   or you want to share it onwards with someone who  might find this useful then please do and we look   forward to connecting with some of you over  the next few weeks and talking to you further.

2021-09-05 18:49

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