All Mobility Startup News in Korea (Korean Startup News)

Airbility is selected for KODIT’s “Little Penguin” and “Startup NEST” support programs

2024-04-30 2 min read


Airbility is selected for KODIT’s “Little Penguin” and “Startup NEST” support programs

Reading Time: 2 minutes

Airbility, a Korean startup focused on developing future aviation mobility solutions, has been selected for two startup support programs run by the Korea Credit Guarantee Fund (KODIT): “Little Penguin” and “Startup NEST.” “Little Penguin” is an innovation-oriented growth support program designed to discover and assist promising startups. It targets companies with strong technology, business potential, and creative ideas, serving as a pre-stage to “First Penguin,” KODIT’s primary startup support program.

“Startup NEST” is a startup incubation platform where KODIT collaborates with leading private accelerators and venture capital firms to identify and nurture startups with significant growth potential. Companies chosen for “Startup NEST” receive comprehensive support, including financial services like guarantees and investments, as well as non-financial services such as assistance with overseas expansion and access to startup spaces.

Airvblity, which was selected for both programs, is an aviation startup that develops high-performance unmanned aerial vehicles (UAVs) and 1-ton-class manned/unmanned aircraft. The company’s vision is to overcome spatial and distance constraints, providing safe and quiet medium- to long-distance travel through a variety of aviation mobility solutions for logistics, surveillance, reconnaissance, and military supply operations using electric vertical takeoff and landing (eVTOL) aircraft.

To achieve this vision, Airbility is developing key technologies, including △an optimized airframe and flight system incorporating vectored thrust based on fixed-wing design, △an innovative distributed electric fan-jet propulsion system with variable inlet technology, and △a modular hybrid energy propulsion system.

Jinmo Lee, CEO of Airbility, commented, “We are honored that KODIT has recognized Airbility’s technological capabilities and growth potential. We intend to grow into an aviation mobility solution company with unique technologies through continuous research and development.”

[Korean Mobility Startups News]

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