AeroInnovate Takes Flight, July 27

Aviation entrepreneurs and potential investors have a new place to be during one day of their visit to the Experimental Aircraft Association’s (EAA’s) annual AirVenture in Oshkosh, and it’s called AeroInnovate. AeroInnovate 2010 takes place on the second day of AirVenture on July 27, 2010 in EAA’s AirVenture Museum.

AirVenture, attended by 550,000 aerospace enthusiasts last year provided a perfect backdrop to the inaugural AeroInnovate 2009 attracting a highly select group of investors, industry leaders and entrepreneurs to network and learn. “AeroInnovate was created specifically for entrepreneurs and investors in the aviation and aerospace community,” AeroInnovate co-director Meridith Jaeger said. “We want it to be a platform for upcoming technologies and what’s going on in aviation and aerospace technology and we want to be the place where people come for that information.”

“The aviation community, like any community, loves their ‘sport’.  Investors in the industry are often motivated by their interest level in the technology or product and will put money into the opportunities that they feel connected to, the ones they like” said Kurt Waldhuetter, co-director of AeroInnovate.  “We want AeroInnovate to connect the dots between exciting new aviation related start-up ventures and potential investors, not just once a year at AirVenture, but throughout the year through our website’s blog and business profile sections”, commented Waldhuetter.  “We encourage companies to profile their businesses on AeroInnovate.org and periodically we will send newsletters to our private list of people we know who are interested in aviation related investment opportunities.”

This year, from 10-11:30 a.m. in the Leadership Classroom in EAA’s AirVenture Museum, Silicon Valley tech guru Bill Joos will give his presentation “Top Ten Mistakes Made in Business Plans and How to Avoid Them.” Joos was a co-founder of Garage Technology Ventures and held sales and marketing positions with a variety of companies, including IBM and as the Sales VP at the software division of Apple Computer. His message applies to all early to mid stage start-up ventures in any industry.

From 1-2:30 p.m. in the same location a panel session called “Funding Your Dream,” will feature three entrepreneurs with start-up experience in the aerospace industry who will share challenges faced, successes gained and lessons learned as they started up their own businesses and funded their efforts through equity financing, government grants and boot strapping.

From 6:30 to 10 p.m. AeroInnovate’s “Pitch & Mingle Venture Cocktail”, in the Founders Wing at EAA’s AirVenture Museum, will provide an opportunity for the most serious aerospace entrepreneurs, industry leaders and potential investors to “Mingle” and entrepreneurs chosen from a list of applicants will “Pitch” their business.

“The entire day climaxes with the ‘Pitch & Mingle’ event,” Jaeger said. “Seven start-up companies each do an eight-minute pitch, followed by a four-minute question and answer session.”

The panel for “Funding Your Dreams” features Carl Diedrich from Terrafugia, Bob Newman from TCW Technologies, and Tom Crabb of Orbital Technologies (Orbitech). Diedrich’s company just received FAA Light Sport Aircraft approval with variance because it was overweight due to compliance with auto safety standards for roll cage, crumple zones and airbags.  Terrafugia’s Transition is a “roadable aircraft” that also fits in standard garages—but he’s not the only one with a sparkling resume.

“Orbitec is perhaps the most successful Small Business Innovation Research (SBIR) NASA awardee in the nation,” commented Waldhuetter. “Orbitec makes technology solutions for space exploration from plant research to human support and propulsion systems, some of which are now being commercialized on Earth in various applications” said Waldhuetter. Crabb has a wealth of knowledge to share on SBIR funding in addition to recent private funding success to commercialize their great technologies.

Bob Newman, a hands-on inventor and engineering, who has spent 30 years in aviation and 20 years making homebuilt aircraft, looked death in the eye surviving a run-a-way trim ordeal.  When he came home and told his wife, she said he has to do something about it and he did.  He created their first product, “Safety-Trim” and bootstrapped a company.  Now, eight products and four distributors later, Newman has a lot to share with other inventors who have a dream of taking their idea to market.

The first two events are open to the public. The “Pitch & Mingle” has limited seating and interested attendees must register beforehand.