Seedstars, a Swiss company, on Tuesday announced the launch of the Lufthansa Technik Philippines (LTP) Startup Challenge 2024, a global open call for entrepreneurs and startups to develop cutting-edge AI solutions for the aviation MRO (maintenance, repair, and overhaul) industry.
This followed the success of the 2022 LTP Startup Challenge. Interested applicants can sign up for the challenge before July 16, 2024, for AI-enabled solutions and Sept. 3, 2024, for innovative MRO solutions.
The aviation industry is witnessing a transformative shift with the integration of artificial intelligence (AI) technologies, as AI has the potential to revolutionize aviation MRO processes, enhancing safety, efficiency, and overall performance.
LTP recognizes the immense potential of AI in aviation MRO and is committed to fostering innovation and collaboration among startups aiming to leverage AI to optimize existing MRO processes.
“The LTP Startup Challenge 2024 builds upon the success of our previous program, which saw impressive innovations from startups worldwide,” said Stefan Yordanov, vice president for finance and strategy and corporate projects at Lufthansa Technik Philippines.
“This year, we are particularly excited to focus on AI-powered solutions that can revolutionize aviation MRO. We believe that the integration of AI will unlock unprecedented efficiency and help us deliver superior services to our customers,” he said.
The four-day virtual program offers a unique opportunity for high-potential startups to collaborate with LTP’s subject-matter experts, gaining invaluable insights into the aviation MRO landscape. Participants will receive venture-building support to strengthen their business foundations and tailor their solutions for implementation in the aviation MRO industry.
“We are thrilled that Lufthansa Technik Philippines will once again drive innovation in the aviation MRO sector,” said Natnicha Lertplakorn, program manager at Seedstars.
The LTP Startup Challenge 2024 provides a platform for visionary entrepreneurs to showcase their AI solutions, explore partnerships with industry leaders, and contribute to the advancement of the aviation MRO industry.
The program will culminate in a main pitching and exhibition event in October 2024, where startups will have the chance to present their solutions to investors and LTP teams.
