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.

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EU Commissioner Breton Calls for Europe to Boost Competitiveness & Security in Space

Thierry Breton (Credit: European Parliament from EU – Hearing of Commissioner-designate Thierry Breton, CC BY 2.0, https://commons.wikimedia.org/w/index.php?curid=84550660)

Speech by EU Commissioner for Internal Market Thierry Breton at the 14th EU Space Conference

“Check against delivery”

Dear Ministers and Member State representatives,
Chère Sophie Wilmès,
Honourable Members of the European Parliament,
Dear friends from the space sector,

Ladies and gentlemen,

I am delighted to open this European Space Conference. It is good to see you all in this room this morning.

Europe is a space power. It has the necessary expertise, industrial capacity, start-ups and assets to weigh in on the global stage. But there is no time for complacency.

The space sector is undergoing a massive transformation. 

On the one hand, the booming of private operators changes the business model of space, combining both large and small industry, space and digital ecosystems. This is a major opportunity for Europe. We need to unleash this potential.

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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.

European Investment Fund Announces €300 Million of Space Sector Finance with New Investments into Orbital Ventures & Primo Space

  • EIF attracts €300 million to support the innovation and growth of European smaller and medium-sized space technology companies under the InnovFin Space Equity Pilot,
  • New agreements with Orbital Ventures SCA SICAV-RAIF and Primo Space announced at the European Space Conference in Brussels.
  • The EIF’s participation is backed by the European Fund for Strategic Investments (EFSI), the main pillar of the Investment Plan for Europe.

LUXEMBOURG (EIF PR) — The European Investment Fund (EIF) is partnering with the European Commission, to announce €300 million of investments into the EU space sector, supporting ground-breaking innovation in the industry.

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