FAQ

FAQ

What’s the targeted funding range per recipient?

$250,000 to $1million

Over what period of time will you award all the funds?

Over the next 2 to 3 years.

Will the Commercial Drone Fund take equity as part of the funding? Or is this just a grant?

The fund will take an equity stake in the company but not a board seat. Airware will not have an equity stake in the company or control terms of any kind.

My company is not located in the United States. What is needed for the Commercial Drone Fund to invest in my company?

The commercial drone ecosystem is global. The fund will be investing in companies in the US, Canada, Australia, the UK, the EU, and potentially other regions. At a minimum, the company must be structured as the equivalent of a US Corporation for income tax purposes, not be a “Controlled Foreign Corporation” or a "Passive Foreign Investment Company."

Will fund recipients have free access to Airware’s technology or flight testing resources?

Airware and the Commercial Drone Fund are separate organizations. That being said, Airware may enter into partnership arrangements with fund recipients including co-marketing, early-access to product, flight testing support, and help with FAA Section 333 exemption applications.

Is it required that an applicant use Airware technology in order to get funding?

No. While many of the fund recipients are using Airware’s Aerial Information Platform or are in the process of making their products and services compatible with the Platform, doing so is not a requirement for funding.

If the Commercial Drone Fund invests in my company, will I be prohibited from working with any other companies in the commercial drone industry?

Absolutely not. It is not the intention of Airware or the Commercial Drone Fund to limit the customers or partners your company can work with in any way. We advise entrepreneurs to be careful and to not take investment capital from investors who seek to control who their company works with.

Will there be any accountability for the funding (e.g., periodic product check-ins)

Yes.

Are there any business advantages other than capital to being a Drone Fund recipient?

Yes. Business benefits include co-marketing and partnership opportunities with Commercial Drone Fund portfolio companies and Airware ecosystem partners, introductions to investors, and pre-qualification for additional investors.

Will anyone from Airware take an active role with the entrepreneur and his/her product development? Consulting time/advice/board?

Jonathan Downey, Airware’s CEO and Managing Partner of the fund will help advise entrepreneurs invested in by the Commercial Drone Fund on issues ranging from raising follow-on capital to growing your team and the business. Additional members of the team from Airware may be involved on an as needed basis.

Will fund recipients be introduced to Airware customers?

In many cases, yes.

Will fund recipients have access to Airware’s product development roadmap?

Airware may share non-public information under a non-disclosure agreement (NDA) with partners including companies invested in by the Commercial Drone Fund.