Boeing to launch business accelerator in St. Louis

The Boeing Co. plans to place a new business accelerator in their Hazelwood-based Defense, Space & Security unit. The new facility aims to increase innovation at the company, according to the St. Louis Business Journal.

The accelerator will help identify employees already working for the company who may have fresh ideas or technology products that could be commercialized.

"It's essentially a method for driving entrepreneurship and commercializing technology within Boeing," Robert Sterling, a spokesman for Boeing's Ventures program, told the St. Louis Business Journal.

The new facility will be based in St. Louis and serve the company worldwide.

No budget for the program has been announced

The Boeing Co. reported net earnings for 2013 of $4.59 billion, up 18 percent from fiscal 2012.

Read more from the St. Louis Business Journal.