The first aviation digitalisation and innovation valley in Europe, named AeroCity Tech Valley, was opened in Vilnius, Lithuania. Established by Avia Solutions Group, leaders in end-to-end capacity solutions for passenger and cargo airlines worldwide, the new centre is set to bring the most innovative companies, ideas, and top-class professionals to promote the development of modern solutions for aviation sector.
The hallways of the newly opened technology centre are already buzzing, with companies from Digital Aero Technologies holding – established by Avia Solutions Group to unite aviation companies operating in technology-based aviation sectors – settling into their new premises. The office building can house as many as 600 workplaces and welcomes all that want to join the wider aviation startup community with unique and creative workspace around them.
“These are exciting times for our companies as well as for the whole aviation ecosystem,” said Julius Norkunas, CEO of Digital Aero Technologies. “AeroCity Tech Valley will be the place where the undeniable potential of the aviation IT sector will peak, while creating solutions for long-standing problems in aviation, simplifying the complexity of outdated processes, and overseeing the reduction of stagnation. It is evident that there are great opportunities in the digitisation and optimisation of processes right across the industry. Therefore, I believe that in no time AeroCity Tech Valley will be known as the Silicon Valley for aviation technologies development.”
The main goal of uniting aviation startups in one place is to encourage idea and knowledge sharing, intercompany projects, and more streamlined tech innovation processes, thus promoting rapid business development.
“I believe that AeroCity Tech Valley will become a place for talented idea developers, IT engineers, and other specialists striving to create and improve the tech sector in the aviation industry,” added Norkunas.
The AeroCity Tech Ventures fund has set out to provide as much as 20 million euros for financing the products and ideas of aviation startups – investing in new and growing companies that have valuable technological ideas for the aviation sector but do not have sufficient resources to implement or develop them.
According to Norkunas, start-ups will be offered not only funding but also irreplaceable knowledge. Selected companies will also have the opportunity to participate in the Runway 36 accelerator for tech companies, which aims to ensure the continued growth of companies by providing them with the necessary tools and knowledge to support business stability and development.