Space now seen as a key technology in multiple verticals

The European Space Agency’s ESA Business Applications programme and ELITE, the business support and capital-raising programme of the London Stock Exchange Group, tucked another successful Investor Forum under their belts last month. 

The 3^rd Investor Forum took place at the London Stock Exchange on 23 May 2019, bringing together the cream of an up-and-coming crop of companies that integrate space technologies into their offerings. Eight of the most promising companies, each looking to raise between €1- €10m, pitched to a group of 20 angel and venture capital investors. The companies are active in a wide variety of sectors, including data analytics, fintech, oil & gas, maritime, geospatial intelligence and communications.

The event proved once more how the mentoring and support of ESA Business Applications and Space Solutions not only helps companies to skyrocket but also assists them in maintaining that momentum with long-term growth. 

Startup executives and investors alike heaped praise on the forum:  

"We are very grateful for ESA's commitment and support for developing and enhancing young hi-tech business", said Steve Wilcockson from Geofinance market development at Geospatial Insight (GSI). 

"Very well organised pitches…The quality of the companies presenting was really very high", enthused  Stefano Gurciullo, partner at RedStone, an international and diverse group of serial entrepreneurs, investors, investment professionals, tech analysts and data scientists whose partners have founded and sold companies to Google, eBay and Axel Springer. 

Nick Appleyard, Head of ESA Business Applications and Space Solutions summed up the mood and ESA’s role in helping businesses to leverage satellite technology: 

"Space-based systems are firmly positioned at the heart of digital revolution. New businesses continue to tap into the potential of these systems, with the prospect of rich pickings for private investment growth. ESA nurtures these new businesses in partnership with ELITE, ensuring the best possible conditions for promising start-ups to flourish." 

About ESA Business Applications and Space Solutions

Since the programme’s inception in 2008, ESA Business Applications has invested more than €200M in over 500 business ideas, addressing markets in industries worldwide. Funding typically ranges from 60kEuro to 2MEuro and supports everything from early stage feasibility studies to large-scale demonstration projects.

Get in touch with us via email at business@esa.int

About ELITE

ELITE offers businesses a full programme to help them grow, including education, business support and direct contact with Europe’s financial and advisory community. In the UK, Imperial College Business School helps to deliver the programme. Management teams are guided on how best to fast-track their development and capital raising processes, how to access the most suitable funding for their needs (whether private equity, venture capital or the bond or equity markets), and are given advice on building their profile and reach.

www.elite-growth.com

ESA has signed a far-reaching Memorandum of Intent involving future collaboration with the coordinators of One Sea, the industry alliance bringing together leading exponents of autonomous ship technology. The partnership with ESA will involve the organisation of programmes for 22 European countries. 

The agreement sets out common objectives to encourage the development of space-based applications to analyse, enable and implement maritime digitalisation and autonomy using latest-generation connectivity.

The alliance brings together key stakeholders from the maritime and ICT industries to accelerate the delivery of digitalised solutions to market. 

“ESA’s participation aligns perfectly with the agency’s Business Applications programme”, says Rita Rinaldo, Head of ESA Institutional Projects within the programme.

 “It is therefore with great satisfaction that we start this cooperation with DIMECC and the other actors participating in One Sea Alliance. We expect that the current initiative, thanks to the engagement of the partners, will foster the emergence of innovative, space-based downstream solutions addressing the key challenges of the future maritime and shipping sector.” 

Jukka Merenluoto, One Sea Lead said: “This is an important statement of intent, through which One Sea and the ESA acknowledge the significance that ongoing digitalisation and autonomy have for the maritime industries. Expertise from different disciplines is necessary to transform today’s connectivity capabilities for tomorrow’s needs, and this MoI represents a unique opportunity to develop applications and services that leverage assets on the ground and in space.”

The agreement envisages knowledge sharing and using resources, expertise and facilities belonging to respective signatories to achieve common goals. The MoI makes explicit reference to the future use of DIMECC’s Jaakonmeri test area for autonomous vessels - the first dedicated test zone worldwide for autonomous ship technology, located off western Finland. 

About One Sea

Established in 2016, the One Sea ecosystem, global leaders in their industries, work closely together to promote their common goal of self-guiding shipping. 

Members include: ABB, Cargotec, Ericsson, Inmarsat, Kongsberg Maritime, MTI, Tieto, Wärtsilä and Finnpilot Pilotage. Other partners include RINA, Finnish Marine Industries, Shipbrokers Finland, Finnish Port Association and Finnish Shipowners’ Association.