Hyderabad, July 30 (IANS) Disruptive business ideas on extended reality, unmanned aerial vehicle (UAV) technology and Internet of Things (IoT) by Indian startups at the “Demo Day” of the Boeing HorizonX India Innovation Challenge on Monday.
At the event held at Boeing’s India Engineering & Technology Center (BIETC), Merxius, HUVIAiR and ZestIoT joined three teams from BIETC in presenting to an audience of prospective investors and customers, as well as government stakeholders.
The Demo Day marks the culmination of a three-month accelerator programme launched in collaboration with T-Hub, a global startup catalyst that powers entrepreneurship. Following a stringent evaluation process, six teams from a competing pool of more than 100 ideas and applications, have won the opportunity to join the cohort.
The ideas presented by the three external finalists range from Extended Reality (XR) applications to the use of IoT for aerospace, said a statement from T-Hub.
Merxius has developed a product that enables the creation of XR environments to save cost and reduce training time in aerospace manufacturing. HUVIAiR refined custom unmanned aircraft services and software solutions for survey and workflow management. ZestIoT explores solutions that connect the airport and airplane ecosystem using IoT to optimize ground handling at airports and improve on-time performance of airplanes.
The six shortlisted startups took part in a three-month accelerator where 30 subject-matter experts from Boeing and T-Hub mentored them and exposed them to potential customers, while strengthening their offerings and capability.
“The collaborative ecosystem of corporates and startups, like the one T-Hub is driving in the country, will become a common trend in a few years. Boeing brings a strong legacy of technological breakthroughs, and we are immensely pleased to collaborate with them in exploring the right startup talent to support its innovation goals,” said Jay Krishnan, CEO of T-Hub.
“Innovation can happen anywhere and startups around the world have the potential to bring disruptive capabilities to aerospace markets and drive our industry forward,” said Brian Schettler, Managing Director of Boeing HorizonX Ventures.
Boeing will continue to collaborate with the three external startup teams to help further their businesses. The ideas presented by the Boeing teams are under evaluation as potential future company offerings.
“Both external startups as well as internal ideas promise to disrupt business models and service delivery in aerospace. We are excited to tap into a new pool of ideas from India which will surely change the global aerospace industry,” said Pratyush Kumar, president, Boeing India.