European Investment Fund & CNES Sign Agreement to Support Small & Medium Enterprises in Space Sector

KOUROU, French Guiana (CNES PR) — On Wednesday June 22, 2022, Jean-Marc Astorg, Director of Strategy at CNES, and Alain Godard, Managing Director of the European Investment Fund (EIF) signed a partnership agreement at the Guiana Space Center to support SMEs and companies intermediate sizes in the space sector. This in the presence of Kris Peeters, Vice-President of the European Investment Bank (EIB), responsible for the space and defense sector for the institution, and Marie-Anne Clair Director of the Guiana Space Center.

At the beginning of the year, the EIF and the ESA formalized a similar agreement. The agreement comes five months after the launch by Thierry Breton, European Commissioner for the Internal Market, of the CASSINI system supported by the European Union and whose implementation has been entrusted to the EIF. The CASSINI initiative, which aims to mobilize more than one billion euros, is intended to support the development and growth of start-ups in the space sector in order to stimulate private investment in this growing economic sector.

(more…)

EUSPA to Further Boost Space Investments with CASSINI Entrepreneurship Fund

PRAGUE (EUSPA PR) — The European Commission, the EU Agency for the Space Programme (EUSPA), the European Space Agency (ESA), and the European Investment Fund (EIF) committed to multiplying the benefits of space technology to businesses. This initiative implies attracting more private investment funds, running capacity building activities, sharing expertise, organizing matchmaking, and promoting the markets. CASSINI is central to this endeavour.

DG DEFIS Director-General Timo Pesonen, EUSPA Executive Director, Rodrigo da Costa, ESA Director-General Josef Aschbacher, Chief Executive of the European Investment Fund Alain Godard gathered at the Egmont Palace in Brussels on the occasion of the 14th edition of the European Space Conference 2022. During this event, they agreed on the principles of cooperation to support SMEs in the space sector, fostering on exchange of information and engaging in joint cross-functional actions towards space entrepreneurship. 

Dedicated to promoting the commercialization of Galileo, EGNOS, and Copernicus data and services to increase the market share of the EU space actors, EUSPA has been engaging with companies of all sizes from a broad spectrum of industries, many of which had not used space services in their activities before.

Through capacity-building, and supporting their access to financial resources, mentoring and market know-how, EUSPA helps to create breakthroughs for space entrepreneurship. 

The ‘’New Space’’ paradigm is however reshaping the industry’s landscape resulting in a greater need for better access to risk capital and other forms of growth financing. Anticipating this need, EUSPA is ready to take EU space entrepreneurship to the next level by leveraging investments, its know-how and capacity building within CASSINI Space Entrepreneurship Growth Funding Initiative, together with European Investment Fund, the European Commission, and the European Space Agency.   

These organisations are committed to bringing together their expertise and experience to leverage new investment support for the European space-based economy. The common objective is to create high-skilled jobs in the EU and improve the day-to-day lives of Europeans by supporting innovative companies and accelerating the development of new applications that use European global navigation satellite systems and earth observation services.

‘’EUSPA has a long history of cooperation with the European Investment Bank group and other private and public investors. I am pleased to see that today we reinforce our collaboration to support developing innovative, creative, and successful companies using EU space technologies,’’ said EUSPA Executive Director, Rodrigo da Costa. ‘’It is another step to contribute to the growth of the EU Space industry and its market share to boost our common economy in this very competitive global environment,’’ he concluded.

For more information, visit http://www.euspa.europa.eu.

EU Space: $1 Billion CASSINI Investment Fund Launched to Spur European Competitiveness

BRUSSELS (European Commission PR) — On the 25th of January 2022 in Brussels, and in the context of the CASSINI Initiative, European Commissioner for Internal Market Thierry Breton signed a joint statement, together with Vice-President of the European Investment Bank Kris Peeters and Chief Executive of the European Investment Fund Alain Godard, officialising their joint commitment for the “Cassini Seed and Growth Funding Facility.

The objective of this €1 billion space investment fund is to attract more venture capital funds to become active investors in European small and medium size companies developing space technology and digital services using space data.

(more…)

EUSPA Launches #myEUspace Competition, More Space for EU Innovation and Entrepreneurs

PRAGUE (EUSPA PR) — The European Union Agency for the Space Programme (EUSPA) launches myEUspace competition. The EU prize contest targets innovators and entrepreneurs ready to explore, develop and commercialise innovative solutions that leverage EU Space data and services, going beyond the current space-applications horizon, and fusing and testing new technologies in location-based services, smart mobility, smart agriculture, geomatics, and for the first-time, quantum technologies.

Building on the success of the previous competitions and with an amplified scope of activities, the European Union Agency for the Space Programme (EUSPA) announces the launch of myEUspace competition. The increased availability of space-based data and services and the evolution of mobile and computing technologies are pushing the bar of innovation higher allowing for the development of more ambitious applications that rely on Galileo’s accurate positioning paired with Earth observation data generated by Copernicus, while exploring new opportunities from Quantum technologies.

(more…)