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Issue link: http://airportbusiness.epubxp.com/i/532707
INDUSTRY INSIDER 22 airportbusiness June/July 2015 WHY IS THE AAAE AIRPORT INNOVATION ACCELERATOR NEEDED? It is critical for the industry to have the right solu- tions at their fingertips at the right time. With the speed at which technology moves and changes, if you wait for a standard procurement cycle the technology you developed may be outdated. I see the Accelerator as an organization try- ing to identify a product market fit. What do the airports need and how do you fill them? That's one of the disconnects I often see. Companies will go out and build something, and they'll wait for people to come. In contrast it's much more important for companies to actually talk to the airports and figure out what they need and build product to meet those needs. Then they need to come back repeatedly to make sure they are building what is actually important to airports. The effectiveness of the Accelerator, its real intent, is to be a hub for airport innovation. I see it as a confluence of airport input directly throughout the process coupled with government initiatives and awareness, and an understanding of what regulators are looking at. These are the three core components that make up the Accelerator. HOW WILL THE ACCELERATOR BRING AIRPORTS AND TECH COMPANIES TOGETHER? One of the tenets of the Accelerator is that it serves the airport community. A startup tar- geting the aviation sector needs to listen to airports. It is key to their success. But another element of success is understanding how airports VETTING ACCELERATOR COMPANIES WHEN the American Association of Airport Executives (AAAE) President and CEO Todd Hauptli announced the establishment of the AAAE Airport Innovation Accelerator, he stressed the goal of this division was to help drive greater innovation in the airport industry by helping qualified companies bring new technology and services to the airport marketplace. "The AAAE team has a demonstrated record in delivering service, innovation and results to airport executives and the aviation industry," Hauptli said. "The Airport Innovation Accelerator builds upon that heritage and represents an important enhancement aimed at serving our members and those who are eager to provide solutions in the airport environment." The Accelerator will focus on assisting emerging companies as well as established companies. The assistance of the Airport Innovation Accelerator will serve critical needs for interested companies, but also engage AAAE members in providing assistance, guidance and expertise that will in turn lead to better products and services in the airport marketplace, Hauptli stressed. According to Hauptli, Accelerator partner companies will be evaluated based upon a series of criteria including: f Business Potential. This includes quality of business strategy, preliminary assessment of technology or product being proposed, clarity of market focus, assessment of competition and other business factors. f Airport Industry Merit and Commercial Viability. This is based upon company descriptions of airport business merit and likely commercial viability addressing likely airport market opportunities as evaluated by the Accelerator team. f Quality of Management Team. The business itself and/or technical experience related to the focus of the business. f Potential Impact on the Airport Industry. This includes contribution to the development of the aviation sector generally, likely commercialization of technology, as well as likely benefit to AAAE members, their tenants and the traveling public. f Ability to Utilize Accelerator Services. The Accelerator needs and the Accelerator's potential ability to assist the business. ON WHY THE ACCELERATOR IS NECESSARY … It is critical for the industry to have the right solutions at their fingertips at the right time. With the speed at which technology moves and changes, if you wait for a standard procurement cycle the technology you developed may be outdated. ON HOW COMPANIES CAN BE SUCCESSFUL IN THE AIRPORT MARKET … A startup targeting the aviation sector needs to listen to airports. … and understand how airports work—their procurement cycles, their organizational structures and their emerging technological needs. ON THE ACCELERATOR'S GOALS … The broader goal is moving it [technology] toward a commercialized solution; making it readily available and easily accessible for airports. … We want to get new developments into their hands as quickly as possible, but we also want to make sure it's valuable before it gets there.