Chennai, Aug 6, 2024: Boeing on Tuesday announced the application window open for the fourth edition of Boeing University Innovation Leadership Development (BUILD) program 2024-25 for university graduates and early-stage startup entrepreneurs. This year’s BUILD launch event scaled up its impact with 40 angel investors and venture capitalists reviewing the start-up ideas of past BUILD winners, providing them exposure and investment opportunities that could support the entire lifecycle of their innovative ideas.
Dr G Satheesh Reddy, President, Aeronautical Society of India (AeSI), congratulated Boeing and its incubator partners for the success of the BUILD program “that harnesses the innovative spirit of India's young minds”. “This initiative is fueling the advancements needed to shape the future of the aerospace and defense sector in India and for the world,” he said.
Chris Raymond, executive vice president of the Boeing Company, and president and chief executive officer, Boeing Global Services, said, “India presents immense opportunities for innovation and growth, particularly within its dynamic start-up ecosystem. The BUILD program is a crucial initiative that taps into the talent and young minds of the country and underscores our commitment to supporting India's journey toward becoming a global start-up and innovation hub.”
Boeing continues to partner with seven incubators, namely, Society for Innovation and Entrepreneurship – IIT Mumbai, Foundation for Innovation and Technology Transfer – IIT Delhi, Innovation and Entrepreneurship Center – IIT Gandhinagar, IIT Madras – Incubation Cell, Society for Innovation and Development – IISC Bengaluru, T-Hub Hyderabad, and Technology Business Incubator – KIIT Bhubaneshwar, to organize BUILD in India. Applicants are now invited to submit ideas in the fields of aerospace and defense, technology, social impact, and sustainability.
Salil Gupte, president, Boeing India and South Asia, said, “BUILD has expanded over the last four years, offering new opportunities, and fostering growth for innovators. With the support of venture capitalists, angel investors, and our incubator partners, we are confident that the most promising ideas will secure the necessary grants and capital to thrive. This collaborative effort will catalyze the advancement of India’s innovation and start-up ecosystem.”
This year’s BUILD applications will be evaluated and shortlisted to compete at a regional-level boot camp, and finalists will pitch their ideas to subject-matter experts on Boeing Immersion Day and BUILD finals, to be held in January 2025. The winners will receive a grant of INR 10 lakh each to support the development of their ideas. Boeing mentors and industry experts will interact and closely work with the finalists to refine and suggest ways to convert ideas into viable business offerings.
The deadline for submissions is October 15.
In 2023, BUILD saw a record number of entries with more than 1,200 ideas submitted by more than 2,200 students and start-up participants from all over the country. Boeing India continues to contribute to skill development with initiatives like the HorizonX India Innovation Challenge and the Accelerated Aircraft Maintenance Engineers Apprenticeship.
