AeroInnovate’s maiden flight at AirVenture 2009 was a resounding success.
AeroInnovate launched on July 27, opening day of EAA’s AirVenture 2009 in Oshkosh, as a forum to connect aerospace entrepreneurs and investors.
EAA and Oshkosh have become synonymous with innovation in aviation and aerospace since the first meeting of “experimental aircraft” designers in the 1950s to the touchdown of WhiteKnight Two, the launch vehicle of Virgin Galactic, the world’s first commercial space line.
AirVenture has become the world’s foremost meeting place for pilots, engineers, dreamers, innovators and their backers.
Although AirVenture continues to draw aviation and aerospace companies building everything from ultralights to the AirBus 380, the forums in the tent city have primarily focused on how to build the plane, not how to build the company.
While innovators in everything from composite materials to biofuels have shown their wares in the display halls at Oshkosh, the connection between investors and entrepreneurs has not had a showcase event.
AeroInnovate 2009 began the face-to-face dialogue of entrepreneurs and innovators with a day –long series of events.
The opening forum, Funding Your Dream, featured Carl Dietrich, CEO of Terrafugia (whose roadable aircraft was approved by the FAA in Spring 2009) and Diane Doers of Delta Hawk Engines. They shared their stories of developing from an engineering idea into a viable start-up firm.
The second forum, Top Ten Mistakes Made in Business Plans and How to Avoid Them, was an interactive session between Bill Joos (a Silicon Valley consultant for early-to-mid-stage start-ups and founder of Go To Market Consulting) and a crowd of entrepreneurs eager to learn the secrets of a winning plan and a compelling presentation.
The evening concluded with the Pitch and Mingle Venture Cocktail, where over 90 investors and entrepreneurs had additional opportunities to network and hear about exciting innovations from seven early to mid-stage companies.
Intensive Q&A followed presentations by Diane Doers, Delta Hawk Engines; John McGinnis, Synergy Aircraft; Carl Dietrich, Terrafugia ; Glenn Martin, Martin JetPack; Ray Browell, Helodyne; Michael Joyce, Next Giant Leap; and, Bill Steele, VirtualHUD.
Between the pitches, the crowd had opportunities to mingle, swap business cards, and ask more detailed questions about what the presenters needed to move to the next stage in the development of their innovative firms
All of the presenters reported additional contacts with Pitch and Mingle attendees during and after AirVenture.
For attendee Gretchen Jahn, Director of New Zealand-based Knotridge Limited and former CEO of Mooney Airplane Company, the journey to Oshkosh, Wisconsin was definitely worth the trip. Jahn states, “I found it extremely valuable to have the opportunity to connect with other entrepreneurs and potential investors, as well as those who have past experience with starting companies. The connections made at AeroInnovate led to other connections, which could have valuable outcomes in the future.”
