PITCHING TECH SOLUTIONS. Twelve startups from different countries pitched their ideas to Lufthansa Technik Philippines (LTP) in a hybrid format on Tuesday (Oct. 11, 2022) Four finalists will fly to the Philippines to further discuss their technology solutions, and possibly sign for collaboration with LTP. (PNA photo by Joey Razon)

MANILA – Four startups from different countries will compete for possible collaboration with Lufthansa Technik Philippines (LTP), and showcase their innovative solutions to help the maintenance repair and overhaul (MRO) industry.

"There is not much companies focusing on technology solutions for the aviation sector," Stefan Yordanov, LTP vice president for Finance, Strategy and Corporate Projects told the Philippine News Agency as to why the firm held an international pitch competition.

Over 100 applications were received, and 12 have presented their ideas in a hybrid format last Tuesday.

Yordanov said the winner will get a contract with LTP so they could work on their pitch.

Four startups were announced as finalists: Block Aero from Thailand, Evitado Technologies from Germany, Aiir Innovations from Netherlands, and Augmenteed from Singapore.

The four will fly to the Philippines to discuss further how they could implement their pitches. LTP Strategy and Corporate Projects Division Manager Cely Rose Apple Pangan on Thursday said the firm is currently assessing the timeline for when they could host the startups.

"LTP is excited to see where our collaborations will lead. Based on how the implementation and conversations go, we'll see which solutions would be the best fit to sign with LTP," Pangan said.

According to LTP, Block Aero Technologies has commercialized a blockchain-based asset management solution for the aviation industry; while Evitado Technologies automates airside operations, mitigating the risk of collisions.

Aiir Innovations, on the other hand, uses artificial intelligence and advanced digital tools in borescope inspections; while Augmenteed provides a platform where industrials can design and build digital workflows for front-line technicians.

Meanwhile, Yordanov said logistics, the energy crisis, and the global supply chain have been quite a challenge for MRO firms. He, however, sees recovery and hitting the pre-pandemic level by 2023. (PNA)