Arkansas is launching the Phoenix Xcelerator, a no-cost program to support defense start-ups. Operated by the Forge Institute, it aims to counterbalance the declining number of defense contractors by offering resources and mentorship. The program connects entrepreneurs with military users and potential investors, reinforcing Arkansas’s role in the aerospace and defense sector.
Arkansas is launching the ‘Phoenix Xcelerator,’ a program designed to invigorate the defense sector by supporting new start-ups. Managed by the Forge Institute, a nonprofit focused on technology and training in defense, aerospace, and cybersecurity, the initiative aims to address the declining number of defense contractors due to industry consolidation. The program provides emerging companies with resources essential for developing solutions that align with national security needs.
The Phoenix Xcelerator is a complimentary, no-equity, and 12-week program tailored for entrepreneurs entering the defense arena. Participants receive education, mentoring, and access to the defense industry, enabling them to create meaningful products that fulfill the requirements of national defense. Mentorship will be provided by experts from established Arkansas companies, such as Power Technology, which specializes in defense-related laser technology.
A significant aspect of the program is fostering connections between start-up founders and potential end-users from military and government agencies. This initiative aims to bridge the gap between entrepreneurs and the bureaucratic processes within the government. Such interactions enhance feedback and enable entrepreneurs to refine their products based on actual user needs.
Towards the program’s conclusion, participants will have the opportunity to showcase their innovations to investors within the Arkansas venture capital landscape. This initiative aligns with Arkansas’s status as a leader in aerospace and defense exports, reinforcing the state’s commitment to nurturing the next generation of defense companies.
The Phoenix Xcelerator is the first of its kind in Arkansas and aims to solidify the state’s position as a key player in the defense industrial base. Entrepreneurs interested in this program must submit their applications by January 31 to be considered for participation.
The defense industry in the United States has increasingly become dominated by a few large companies, resulting in fewer contractors and diminished competition. According to a 2022 Department of Defense study, the number of primary contractors in the aerospace and defense sectors has decreased dramatically over the last three decades. Consequently, there are concerns about national security implications stemming from such industry consolidation. The Phoenix Xcelerator hopes to counteract these trends by fostering innovation among emerging defense-related start-ups.
The Phoenix Xcelerator represents a proactive approach by Arkansas to revitalize its defense sector by empowering start-ups and fostering innovation. By investing in new entrants to the industry, Arkansas aims to enhance competition and improve national security capabilities. This unique initiative emphasizes mentorship, access to resources, and connection to potential end-users, positioning participating entrepreneurs for success in the defense arena.
Original Source: katv.com
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