Source: ESA press release
On January 24, 2023 the European Space Agency (ESA), the European Commission and the EUSPA signed a Coordination Arrangement related to Commercialisation initiatives, to further support space-based entrepreneurship and strengthen the New Space industry in Europe.
The signatories admitted that while European businesses are making strides into new markets both at home and worldwide, they are still constrained by difficult access to growth capital and loans, due to the perceived riskiness of space-related investments and stated again their common objective to improve the conditions for private investors and businesses.
They agree to work towards increased coordination in the following areas:
- Capacity building activities to increase private investments, including training programmes and sharing expertise with fund managers
- Access to finance, networks, and market promotion, including coordination on events, including matchmaking events
- Advisory, market intelligence, communication, and awareness-raising, including exchange of information
- Access to testing facilities in Europe for start-ups and SMEs