UAT Named Semi-Finalist on Two Global Competitions: The 2017 Global (MTEC) And The 2017 MIT-CHIEF
Author: Daryian Rhysing
Originally posted: Oct. 26, 2017
Last edited: 4 months, 3 weeks ago
United Aircraft Technologies, Inc., took part in the 2017 Global Marine Technology Entrepreneurship Competition hosted at the Massachusetts Institute of Technology (MIT) Stata Center in Boston by Shandong University and Qingdao City.
Regional contests were held in the USA in Silicon Valley, Chicago, and Boston. While the global competitions took place in Canada, England, Germany, France, and China. UAT participated in the Boston competition, which took place yesterday, October 25th of 2017 thanks to the sponsors; MIT China Innovations Entrepreneurship Forum (MIT-CHIEF), The Sino-US Technology Innovation Park, COCOSPACE and the International Institute for Marine Sensors located in Qingdao.
UAT was fortunate to be able to take part on this competition since it served as a pathway for entrepreneurs and their teams to gain access to Chinese capital and market. UAT Business Developer, Lou Russell, presented the technology to many well-known investment institutions from China, such as Suning Global Investment, 23seed, COCOCAPlTAL, Qingdao Hi-Tech VC, Qingdao International Investment Co, Westpac Ventures, Ivy Capital, Matrix Partners China, China Fortune Securities, and more.
The focus area chosen for this event was Artificial Intelligence, which aligns with the company's new sensing technology meant for managing the wiring integrity of an aircraft and works on sending Big Data to the UAT Artificial Intelligence Monitoring System (AIMS).
Through this event experience, UAT was able to obtain critical independent analysis of the business plan. The insight provided by the judges was of great value to UAT. As a Science based company, the team prides itself in always seeking learning opportunities which were made possible thanks to this competition.
For current and future startups that are interested in participating, MIT-CHIEF Business Plan Contest is held annually since 2011 and is dedicated to contributing to a global entrepreneurial ecosystem through series of resources, that include mentors, funding, industry expertise, legal service and and know-how of marketing and business models, from both the U.S. and China. They additionally provide entrepreneurs in the U.S. with valuable connections in China and help on immersing their startups into the Chinese market. Thus, make sure to check them out: https://www.mitchief.org/contest/