Lufthansa Technik Philippines is seeking startups that have developed artificial intelligence technology that could improve MRO operations. The company is launching the second round of its LTP Startup Challenge in partnership with startup accelerator Seedstars, and this year the program will have a heavy focus on AI.
“This year, we are particularly excited to focus on AI-powered solutions that can revolutionize aviation MRO,” says Stefan Yordanov, vice president of finance and strategy and corporate projects at Lufthansa Technik Philippines (LTP). “We believe that the integration of AI will unlock unprecedented efficiency and help us deliver superior services to our customers.”
The challenge will consist of a four-day virtual program that LTP says will enable startups to collaborate with its subject matter experts and gain insights about the MRO industry. Startups selected for the program will participate in an exhibition and pitching event in October where they will present their solutions to investors and LTP teams. LTP will select up to three winning startups, which will be invited to visit its headquarters for what the company says will be in-depth negotiations and potential collaboration opportunities.
In the first iteration of the LTP Startup Challenge, which ran in 2022, LTP selected four winning startups that offered solutions centered on a variety of technologies, including augmented reality, blockchain, LiDAR and AI. Winner Aiir Innovations, a Dutch startup that utilizes AI for automated borescope inspections, has gained significant traction in recent years with companies such as KLM, MTU Maintenance and Waygate Technologies.
In addition to its use cases for automating detect defection, such as with Aiir Innovation’s technology, AI is being studied in a wide variety of areas within MRO. For instance, generative AI could be used to create solutions similar to ChatGPT for technicians, which they could use to troubleshoot issues and look up information. It could also be used to instantly log and transcribe maintenance information via speech or build simulation models to forecast when assets and equipment may need maintenance or to be scrapped. Aftermarket companies are also looking into AI use cases for customer service applications.
Although this second round of the LTP Startup Challenge will be heavily focused on AI, it is also accepting applications from startups focused on other types of technologies. The program will be accepting applications for AI-enabled solutions until July 16, and applications for other innovative MRO technologies until Sept. 3.
