Evgenii Artemov and Alan Phelan, the masterminds behind APTN.AERO, developed this platform with the aviation industry in mind. They aimed to streamline the process of engaging the appropriate technical consultants for those dealing in or investing in aviation assets.
Agents who provide technical consultation often work independently and hold specific expertise in areas like aircraft upkeep and examinations. The conventional method of hiring these experts tends to involve intermediaries or brokers.
Given that these specialists are scattered across the globe, it can be challenging for the entities relying on their skills – such as asset managers, investment institutions, and aviation traders – to identify a consultant with suitable skills, available in the right place and time, without excessively high fees. Conversely, it can be equally daunting for the consultants to establish their presence in the aviation sector.
With a joint industry experience of over half a century, Artemov and Phelan are well-versed in these difficulties. Despite both working towards resolving these issues, their professional paths had never previously intersected until being introduced by Enterprise Ireland earlier in the year. This meeting of minds led to the creation of APTN.AERO.
Artemov noted the inefficiencies in the industry dating back to 2022 when aircraft were being retrieved from Russia. A technical consultant friend of his had been contacted by five different agents regarding the same job – a clear example of unnecessary duplication. Furthermore, the industry heavily depended on slow and manual operations.
At APTN.AERO, a range of automated solutions have been devised to handle tasks such as project planning, contract discussions, collaboration and invoicing. This means that their clients can bypass intermediaries to promptly and directly identify the best local talent for their project. The result is not only a significant reduction in project expenses, but also lowered travel and accommodation costs.
The company utilises a sophisticated algorithm to ascertain the most appropriate consultants for each undertaking. To ensure openness and confidence, consultant vetting is performed independently and bolstered by an extensive rating and review system. Presently, post-task report generation can take a few weeks, but with the incorporation of AI, the company intends to expedite this stage to mere days or hours, states Artemov, the creator of the company’s freely available minimum viable product (MVP) on Bubble.io, a platform enabling non-coders to develop an application.
There haven’t been any costs for the founders yet, other than the investment of their time. However, as they push forward with product development, expansion of the consultant database, and the demonstration of the platform to potential clients, significant funding will be needed. In this regard, the process of raising capital has begun with potential choices of seed and HPSU options with Enterprise Ireland, as well as private equity.
The company released their MVP that has a restricted range of features, but more are planned for introduction by year-end. These include a review system, modules for contracting and billing, a benefits hub for consultants, a technical Q&A forum, and apps for iOS and Android. The company has several hundreds of consultants in its database and is considering more than 20 potential clients.
Artemov, a recent graduate from the Enterprise Ireland-supported New Frontiers programme at TU Dublin’s Hothouse bootcamp for start-ups, insists they don’t aim to displace brokers or intermediaries. Instead, their goal is to offer tools to support everyone in the aviation consultancy ecosystem, lower expenses, improve transparency, and boost efficiency. APTN.AERO is currently accessible to all at no cost, but a fee will be introduced for both consultants and clients starting from 2025. The platform’s initial roll-out will be in Europe, followed by Asia and then North America.