Boeing announces HorizonX India Innovation Challenge to accelerate aerospace innovation
- Collaborates with T-Hub to incubate breakthrough aerospace innovation in India
- Invests to support entrepreneurs and innovators to accelerate “StartupIndia”
Hyderabad, November 28, 2017–Boeing [NYSE: BA] announced the launch of the Boeing HorizonX India Innovation Challenge 1.0 to energize aerospace innovation in India. The challenge is a collaboration with T-Hub, India's fastest growing startup engine.
The Boeing HorizonX India Innovation Challenge is aimed at attracting the best Indian startups to propose disruptive solutions to tackle complex challenges in the areas of autonomous and unmanned systems, advanced manufacturing, industrial IOT and automation, analytics, artificial intelligence (AI) and machine learning (ML). Entrepreneurs will be invited to present ideas on select themes that include drones and data application, factory productivity, supply chain, aircraft maintenance and services, passenger experience,defense, commercial and industrial uses.
“The Boeing HorizonX India Innovation Challenge 1.0 is our attempt to channelize India’s incredible talent and entrepreneurial energy for the future of innovation in aerospace and related areas,” said Pratyush Kumar, president, Boeing India. “The Global Entrepreneurship Summit (GES) provides a perfect backdrop for us to unleash a wave of innovation, both within and outside of Boeing.”
“We are happy to be working with Boeing to identify the right startups and entrepreneurs for the Boeing HorizonX Challenge” said Jay Krishnan, CEO T-Hub. “In today’s age, innovation is fostered by collaboration rather than competition, resulting in co-creating possibilities for the future and a win-win partnership between startups and industry. T-Hub is playing an important role in bringing together the best companies and startups to work with each other,resulting in the most innovative and practical solutions.”
By leveraging the power of the world’s largest aerospace company, Boeing HorizonX globally invests in new business ventures, seeks opportunities through nontraditional partnerships, and assesses disruptive innovations and business strategies. The Boeing HorizonX Ventures portfolio includes investments in autonomous systems technology, wearable enabled technologies, augmented reality systems, hybrid-electric propulsion, advanced materials and artificial intelligence.
“Boeing has a vision to encourage a thriving entrepreneurial ecosystem around the world, driven by our belief that innovation happens everywhere,” said Steve Nordlund, vice president, Boeing HorizonX. “We are proud to work with T-Hub and support Startup India to help local entrepreneurs further India’s potential to help define the future of aerospace.”
The 22-week long challenge kicks off today and will be open tostartups across the country. Regional outreach events at T-Hub centerswill be organized in Bengaluru, Delhi, Hyderabad, Mumbai and Chennai, followed by final selection in Hyderabad. The finalists will receive funding to participate in a three month accelerator program at T-Hub, where they will be mentored by Startup India, Boeing subject matter experts and industry experts to shape their ideas.
The winners of the competition will haveopportunity to engage with Boeing on future partnerships.
Boeing is the world's largest aerospace company and leading manufacturer of commercial jetliners, defense, space and security systems, and service provider of aftermarket support. Providing the mainstay of India’s civil aviation sector for more than 75 years, Boeing’s performance driven aircraft are also playing an important role in mission-readiness for the Indian Air Force and Indian Navy. Boeing is focused on delivering value to Indian customers with advanced technologies and is committed to creating sustainable value in the Indian aerospace sector – developing local suppliers, and shaping academic and research collaborations with Indian institutions. Boeing has strengthened its supply chain with over 160 partners in India, and a JV to manufacture fuselages for Apache helicopters. Annual sourcing from India stands at $1 billion. Boeing currently employs 1200 people in India, and more than 7000 people work with its supply chain partners. Boeing’s employee efforts and India country-wide engagement serves communities and citizenship programsto inspire change and make an impact on more than 140000 lives.
T-Hub is a unique public/private partnership between the government of Telangana, three of India’s premier academic institutes (IIIT-H, ISB and NALSAR) and key private sector leaders. T-Hub aims to forge many such partnerships with governments and corporates across the world to setup T-Bridge centers, strengthening trade relations and attracting investment into the state of Telangana.
T-Hub is one of the largest startup ecosystem builders in India, with over 2000 startups in its database clustered into various stages of growth across sectors of specialization - a model of community development that is unique to Hyderabad. Such a unique model enables investors and corporates to plan programs and capacity building initiatives in a targeted and organized manner. T-Hub is also the only model where the government is working intensely with the investor and the partner to fuel innovation and facilitate enterprise.