Israel Aerospace Industries (IAI) has joined forces with Starburst, a global accelerator focused on Aerospace & Defense sectors.
This innovative collaboration is expected to be the first step in realizing IAI’s objectives to become a significant technological player and strategic partner for startups in the Aerospace & Defense fields, by offering technological and business expertise, technology validation, mentoring and access to such startups’ potential markets.
With presence in three continents, Starburst comprises 300 startup companies and 26 companies in the accelerator, including GE Aviation, Boeing, Lockheed Martin, Raytheon, Thales, Airbus and more.
IAI will participate in the election of startups to the accelerator the meets IAI’s criteria, and in addition, overseas startups that already participate in the accelerator will present technologies selected by IAI according to pre-determined criteria. The model will enable IAI to identify innovative technologies that can contribute to its current and future growth engines and technological roadmap and maintain its position as a technological spearhead, through technical collaboration and equity investments in the forefront of aerospace technology.
Zvi Maayan, IAI VP of business development and subsidiaries, said:
“The collaboration with Starburst and startups has become an engine that makes breakthrough and disruptive technologies accessible. Operating in a dynamic business environment that experiences rapidly changing paradigms, practices and trends, IAI has resolved to lead the technological forefront through collaboration with innovative, out-of-the-box, platform that nurtures creativity and broader horizons, while entering into the startup disruptive and highly innovative arena. The collaboration with Starburst will give us visibility and access to startups in IAI’s areas of activity and open up new horizons.”
Starburst CEO, Francois Chopard, said:
“Starburst is excited to partner with IAI. This is an important signal for aerospace entrepreneurs and innovators in the ‘startup nation’ and those abroad looking to partner with one of the world’s leading aerospace companies.”
Source: Press Release