IAG launches London-based ‘Hangar 51’ accelerator program [VIDEO]

For an industry that introduced autopilot more than half a century ago, some of the air cargo industry’s practices are practically anachronistic – just ask pharma shippers. That’s all changing as carriers rush to implement high-tech solutions to provide timely, controlled and transparent services that high-value goods require. Now, these carriers are taking innovation one step further by creating accelerator programs of their own to push the limits of logistics technology.

The latest of these air cargo initiatives comes from IAG Cargo, which launched its Hangar 51 Accelerator Programme, to develop new technology, products and services for the aviation industry. The accelerator will be headquartered in London, home of IAG’s British Airways.

An IAG press release out Tuesday explained that the 10-week program, “will enable startups looking to enter the aviation industry to trial their products globally and receive mentoring from the group’s senior management team. This will help them to rapidly accelerate their product development, as well as gain access to real customer insights from experts and funding from IAG and L Marks.”

L Marks is an early stage investor that funds a series of accelerator programs across sectors ranging from finance to data sciences and retail.

The IAG program will rival the partnership created by Lufthansa in April of this year, when it teamed up with co-working firm RocketSpace to promote its Logistics Tech Accelerator. The German carrier also launched an Innovation Hub in 2014 and announced plans to invest €500m in innovation by 2020. Other carriers are watching closely to see if new technology will provide respite from low margins and falling freight load factors.

At IAG, no specific details were mentioned regarding air cargo projects, but the program was designed to cover all aspects of the aviation business. The new Hangar 51 accelerator will focus on four areas:

• making customer journeys through the airport easier.
• developing new tools and processes to speed-up and simplify the business.
• finding new ways that data can increase customer satisfaction and create business value.
• other new ideas that start-ups believe can improve customer experience.

Glenn Morgan, IAG’s head of digital transformation, said the accelerator would bring, “cutting edge digital startups into the heart of our business.” He added that, “If startups have something that can be applied to our industry to help our customers, then we want to hear from them. This initiative is a great opportunity for early stage businesses to fast-track their innovative ideas by working closely with IAG. We’ll fully support them through mentoring and funding to improve customer journeys with new disruptive and innovative ideas.”

Startups have until Nov. 6 to submit applications at www.hangar51.com

Below, an introduction to the accelerator from IAG Cargo:

For more about startups, please join us at Air Cargo World’s new ELEVATE 2016 Conference, Oct. 10, in Miami, where accelerator and startup representatives will take part in a panel discussion called Digital Shipping Startups, and How to Leverage the Tech Stack. Click here for details.