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European Commission chooses ESA BIC Portugal as successful space downstream incubator
Photo by IPN

Instituto Pedro Nunes (IPN) was invited by the European Commission to present their best practices in coordinating the Incubation Center of European Space Agency in Portugal (ESA BIC Portugal) during the 2nd Finance Workshop Space Economy, held on 3 May in Brussels. Launched in 2014 end, the ESA BIC Portugal is one of 16 current ESA incubators at European level. In this structure are supported startups to implement proven technology in space in sectors such as health, transport, energy, security and urban life.

The 2nd Finance Workshop Space Economy brought together representatives of the European Commission, the European Space Agency and Airbus, as well as investors and incubators. The initiative intended to discuss new ways to finance the growing boom in space startups that has taken place mainly in the United States and Europe, from SME finance programs to the emergence of specialized investment funds for the space industry.
In addition to the ESA BIC Portugal, ESA BIC UK was also chosen to present their experience in business incubation in the space area.

So far, the ESA BIC Portugal has supported 11 startups. In the next five years - duration of the program - provides incubate 30 companies that will create about 240 new jobs and ability to raise capital of 6.5 million euros.
The ESA BIC Portugal is a direct investment in Portugal of € 1,950,000 (one million nine hundred and fifty thousand euros) in five years. This program is led by the IPN and has poles in UPTEC and DNA Cascais Agency. The ESA BIC Portugal has the support of the Space Office (FCT / ANI) and other stakeholders, such as CCDRC, universities, municipalities and investors and was considered of strategic importance to Portugal, which is why the Government through the FCT, It has invested significant resources in this area.