Last week, AI Methods held the official kick-off meeting for its participation in the ESA BIC Comunidad de Madrid program. This prestigious initiative, led in Europe by the European Space Agency (ESA), is part of ESA Business Incubation Centres (ESA BICs), the largest network of incubators supporting space related start-ups in Europe, is coordinated by Fundación madri+d in Madrid region and aims to foster the integration of space technology into a wide range of industries.
The meeting took place at the UC3M Science Park on October 8, 2024, and evaluated the status of the project, exploring opportunities to further amplify its impact. A key objective of the incubation project is to enhance AI Methods' predictive models by incorporating a continuous stream of satellite data, which will significantly improve the accuracy of weather forecasts over time. Satellite technology provides broader, more comprehensive coverage compared to radar, positioning AI Methods to offer more robust solutions for industries that rely on precise weather data.
Beyond technical advancements, the ESA BIC program offers a strategic opportunity for market expansion. Through the development of a comprehensive business plan, AI Methods aims to identify new applications for its technology in sectors such as agriculture and maritime, broadening its reach beyond its current focus on aviation.
The 18-month incubation period began on July 18, 2024, with a mid-term review planned for April 2025. Stay tuned for updates on the progress and innovations from this program.
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