LYNEports wins FIA 2024 Startup Pitch Competition hosted by Aerospace Xelerated

LYNEports was selected as the winner of the Aerospace Xelerated (AX) Startup Pitch Competition, which was held on July 25th at the 2024 Farnborough International Airshow.

The Romania-based company specialising in advanced air mobility planning solutions was selected as a winner amongst the five other innovative finalists, including Eddytec, Estuaire, Sora Aviation, OneGrab, and Flux Aviation. The startup was selected as the winner for the founder’s strong pitch, product potential and ability to make a difference in the sector.

As the pitch competition winner, the LYNEports team will receive a cash prize of £5,000, six months of mentorship from the Aerospace Xelerated team, and an exclusive exhibition space at the 2026 Farnborough International Airshow to help them grow their business. The second-place winner, Eddytec, will also get a prize of £2,500 and three months of mentorship.

“We are incredibly grateful to be recognised as the winner of this competition”, said Rasha Alshami, Founder & CEO of LYNEports. “It’s been an honour to compete against such an inspiring group of startups working to make a positive impact within the aerospace industry. We appreciate the opportunity and look forward to using this platform and the reward to further our mission of merging airspace and ground space to be more inclusive, and bring the next generation of travel and aviation in a safe and sustainable way into our cities and communities.”

The pitch competition invited startups offering solutions in three challenge areas: Innovative Workforce, Sustainability in Aerospace, and Next-Gen Travel. Overall, 20 innovative startups applied to participate in the pitch competition. Of them, 6 are UK-based, 9 are female-founded, and 10 are working on sustainability-focused solutions, highlighting the growing emphasis on diversity, innovation, and environmental responsibility in the aerospace industry.

The Pitch Competition Judges

“Startups like these are playing an important role in developing innovative solutions needed to tackle sustainability issues we face and ensure that we achieve global targets as an industry,” said Nichola Bates, Aerospace Xelerated’s Managing Partner and Boeing’s Head of Global Accelerators & Innovation Programmes. “It’s exciting to see so many startups putting sustainability at the core of their business. Hopefully, this indicates that we are moving towards a greener and more equitable future in aviation.”

“It’s inspiring to see the number of UK-based companies among the applicants. It really showcases the thriving entrepreneurial ecosystem within the UK and underscores our nation’s capacity to lead in aerospace innovation,” said Jacqui Sutton, Non-Executive Director, Farnborough International Ltd, who took part in the event as a judge. “The talent and creativity emerging from these startups are a testament to the strength and potential of our local industry.”

Bates also commented optimistically on the number of female-founded companies that applied to the competition. “Having an almost 50% participation rate of female-founded companies is a powerful indicator of the strides we are making towards gender diversity in aerospace. These women-led startups are not only breaking barriers but also driving innovation within the industry.”

The pitch competition was part of the airshow’s first-ever dedicated Startup Zone. In addition to the pitch competition, the Aerospace Xelerated Innovation Zone showcased 16 startups backed by Aerospace Xelerated and hosted a stage featuring panel discussions with industry experts, workshops, product demos, and more.

The introduction of the Startup Zone at the Farnborough International Airshow, in partnership with Aerospace Xelerated, was created to highlight the airshow’s role in powering excellence and innovation across the global aerospace and defence industries.

“We are honoured to have partnered with Farnborough International to host the first-ever dedicated Startup Zone in the airshow’s history,” said Bates. “Through our collaborative efforts, we created a platform to highlight the innovative solutions of these early-stage companies to a global audience of industry leaders, investors, and enthusiasts.”

Jacqui Sutton, added: “This year’s event really highlighted the advancements that are taking place within the global aerospace sector. We are proud to have joined Aerospace Xelerated in launching the Startup Zone, highlighting the groundbreaking solutions offered by these pioneering startups and helping them build connections with the wider industry.”

About Aerospace Xelerated

Aerospace Xelerated is a global aerospace accelerator and innovation programme delivered in partnership with diverse industry stakeholders, such as the Boeing Company, Tawazun Council, Etihad Airways, Rolls-Royce, GKN Aerospace, and the UK’s Defence and Security Accelerator. Aerospace Xelerated provides investment, mentorship, and support for startups and SMEs developing scalable and sustainable tech solutions for the aerospace industry and beyond.

For the last four years, Aerospace Xelerated has provided mentorship, investment, and support for 42 startups from 15 countries across 4 continents around the globe. Our current portfolio boasts 25% women-led startups, with our most recent cohort featuring an impressive 50% women-led ventures. To date, AX-supported companies have raised over $250M in additional funding — beyond our initial equity investment into each- and created +750 highly skilled jobs worldwide.

Learn more about Aerospace Xelerated: Website | LinkedIn | Medium | X | Instagram

Source:

https://medium.com/aeroxelerated/lyneports-wins-fia-2024-ax-startup-pitch-competition-a50e3e908af7

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