AeroCity Tech Ventures to invest 20m euros in aviation start-ups
AeroCity, a fast-growing campus of aviation companies in Vilnius, has exciting news for start-ups and business innovators in aviation.
A newly established AeroCity Tech Venture fund will help the best aviation technology ideas and companies to take off and establish themselves as a global player in the industry.
The AeroCity project being built by the global aerospace service group Avia Solutions Group and the AeroCity Tech Valley will bring the most innovative companies, ideas, and top-class professionals to promote the development of modern solutions for the aviation sector.
“Although aviation is a modern industry, there is still a lot of room for novel ideas, solutions and digitization," commented the Head of AeroCity Tech Valley Business Incubator, Julius Norkunas, who has been working with innovative ideas and start-ups for many years.
"As the industry is protected by numerous licences, entry barriers, and flight safety requirements, changes can be more difficult to implement. Regardless, we see great potential in this industry and want to help it grow.”
The AeroCity Tech Ventures Fund, established by Avia Solutions Group, will invest in new and growing companies that have valuable tech ideas for the aviation sector, but lack resources to implement or develop them.
“We have planned to allocate as much as 20 million euros for the financing of start-ups, products, and ideas. We believe that with our help, many ground-breaking ideas in aviation will become a reality,” continued Norkunas. "The aviation industry is now embarking on a digital revolution; thus, we believe the AeroCity Tech Ventures fund will be an indispensable tool for companies looking to make a positive impact in aviation.
"Our selected companies will also have the opportunity to participate in the Runway 36 accelerator, a programme which aims to ensure the further growth of the companies by providing the necessary tools and knowledge to help maintain business stability and development," he concluded.
BlueSky Business Aviation News | 2nd September 2021 | Issue #619