Boeing forms venture group, invests in two tech startups: HumSub.TV
Boeing forms venture group, invests in two tech startups: HumSub.TV: Boeing Co said on Wednesday it had launched a venture capital arm and invested in two tech startups, a fresh sign of the importance big companies see in keeping up with rapidly evolving technology for designing and making products.
Boeing’s new division, known as HorizonX, invested in Upskill, a Washington, DC-based software company that uses Google Glass-type eye wear to help assembly workers with complex tasks such as creating wiring bundles for Boeing jetliners.
It also invested in Zunum Aero, a Seattle-area company that is working on electric-hybrid aircraft aimed at bringing down the cost of flying to regional airports. Zunum also received funding from JetBlue Technology Ventures, a unit of the New York-based JetBlue Airways Corp.
Boeing and JetBlue are not alone in taking stakes in promising technology companies. General Electric Co’s venture arm invested in an earlier Upskill funding round, and Airbus has had a venture fund since 2014.
Upskill said its software platform brings data typically stored in books into workers’ tools. The system can be used in manufacturing, field service and shipping and warehouse logistics, and the company’s revenue growth is in triple digits annually, Chief Executive Officer Brian Ballard told Reuters.
“Imagine working on a car and not having to flip through the paper manual,” Ballard said. Typical systems pay back in a few months. Upskill has been working with Boeing for two years and has moved beyond pilot tests into production.
Boeing declined to specify the investment amounts. “But this initiative represents a multi-year commitment by Boeing to spend tens of millions of dollars a year to advance innovation and to supplement our research and development efforts,” spokesperson Chaz Bickers said. “While the levels of investment generally are not material to Boeing’s financials, they generally will be to our target investments.”
Steve Nordlund, former vice president of strategy for Boeing’s defense, space and security business, will head HorizonX. Nordlund was involved in launching drone-maker Insitu Inc, which Boeing acquired in 2008. He also has worked in sales at IBM (IBM.N) and was chief information officer at Embry-Riddle Aeronautical University.
Boeing forms venture group, invests in two tech startups: HumSub.TV
About HumSub TV
Introduction
HumSub TV is Pakistan’s leading forwarding-thinking, edutainment channel, aimed at promoting and upholding peace, interfaith harmony and social responsibility within Pakistan through informative and insightful programmes and documentaries; analytical interviews on issues pertaining to social, economic, legal and environmental set-up; dedicated shows to canvass and thereby promote the culture and heritage of Pakistan and in-depth coverage of national and international news.
HumSub TV is the first channel and thus a pioneer within its own right that mainly focuses on emphasising the “Rights” as well as the “Obligations” of the citizens in light of the Constitution of Pakistan, numerous International declarations signed by the Government and various laws that have been promulgated over the years but are not in the knowledge of the common citizen.
HumSub TV also aims to enter into bilateral agreements with other countries to promote not only their culture, heritage and tourism, but also their educational and medical facilities.
Following the successful launch of HumSub TV’s head office in Blue Area, Islamabad; the bureau office has been set up in Lahore.
Vision
To project positive image building of Pakistan and inculcate nationalism, as per the vision of the founder of the nation, Quaid-e-Azam Mohammad Ali Jinnah.
Mission
HumSub TV is resolute about the promotion of a pluralistic, inclusive and egalitarian society in Pakistan where all citizens are allowed to contribute to promote interfaith harmony, peace and collective wisdom in the social, political and economic development of Pakistan and to encourage critical and lateral thinking in the society. HumSub TV strives to make a positive contribution to this end.
HumSub TV’s Theme
HumSub TV, Pakistan’s first EDUTAINMENT Channel, has been set up for not only those audience residing in Pakistan or overseas but the international community on the whole. The vision of the channel is to project positive image building of Pakistan and inculcate nationalism as per the vision of the founder of the nation.
HumSub TV strives to make a positive contribution to this end by promoting pluralism, inclusiveness and egality in Pakistan and give voice to the suppressed. It endeavors to act as a positive catalyst for social change and Pakistani nationalism. It envisions providing a platform for airing critical and lateral thinking and collective wisdom by inviting positive minded intellectuals and opinion forming individuals for the promotion of interfaith harmony and peace in the social, political and economic development of Pakistan.
Whereas the channel airs upbeat edutainment programmes, it, nonetheless, has the primary objective of countering negative anti-Pakistan regional and international propaganda as well as advancing fundamental rights as encapsulated in the Constitution of Pakistan.
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