Story ID: 345
Aerospace Xelerated to run competition at FIA
By: Peter Shaw-Smith
Caption: Some 16 AX portfolio companies to appear at FIA
Word Count: 280
Technology incubator Aerospace Xelerated (AX) plans to run a pitching contest for shortlisted startups competing for a £5,000 prize at the Farnborough Airshow this week.
The futuristic brainchild of several leading global aerospace companies will also display 16 portfolio companies at the show, presenting their solutions in the Innovativation Zone. 
For the first time in its history, the show will also feature a dedicated startup zone, highlighting the show's role in powering innovation across the global aerospace and defense industries. 
The Aerospace Xelerated Innovation Zone includes a lounge area and a stage with panels, workshops, product demonstrations, and more. 
Dutch concern Eddytec, which identifies defects in carbon fiber composites, France's Estuaire, a provider of data designed to reduce aviation's environmental impact, and Flux Aviation, a developer of battery electric propulsion systems, feature among the six entities chosen to participate in the Wednesday competition.
Also included will be LYNEports, a Hungarian enabler of ground and airspace integration of eVTOL aircraft and drones using geospatial software, food and beverage specialist Onegrab of Milan, Italy, and Sora Aviation, which is developing the S-1, a 30-passenger eVTOL aircraft. 
AX is a global aerospace "accelerator" that partners with the Boeing Company, Tawazun Council, Etihad Airways, Rolls-Royce, GKN Aerospace, and the UK’s defense and security accelerator. AX portfolio companies exhibiting at this year’s show will include AireXpert, Basetwo, Nabla Mobility, and Zetamotion.
In the past four years, AX has provided mentorship, investment, and support for 42 startups from 15 countries across four continents. To date, AX-supported companies have raised more than $250 million in funding beyond initial equity investment.