ESA BIC Companies Raise £55 Million Investment Since 2011

Companies that have taken part in the European Space Agency Business Incubation Centre United Kingdom (ESA BIC UK) have collectively raised over £55 million in equity investment in the last eight years, new research has shown.

Managed by the UK’s Science and Technology Facilities Council (STFC), the ESA BIC UK enables up to 12 UK start-ups every year to use space and satellite technologies to develop new products and services. Since opening in 2011 it has helped 75 start-up companies, 66 of which have already graduated from the centre and are now rocketing their way to commercial success as vibrant, growing businesses.

STFC’s Dr Sue O’Hare, Operations Manager at the ESA BIC UK, said: “This is a fantastic milestone for us to have reached in less than 9 years. It is clear that the business support package and other benefits of the ESA BIC UK programme has had a dramatic impact on the success of the start-up companies taking part.”

The ESA BIC UK was first operational at the Harwell Campus in Oxfordshire, and expanded in 2018 to additionally operate at the campuses; Sci-Tech Daresbury in the North West of England and at the Royal Observatory, Edinburgh. One third of the initial ESA BIC Harwell companies have remained on the Harwell Campus including space satellite solutions firm Open Cosmos.

 "The ESA BIC UK provided Open Cosmos with the essential basics to start growing. Apart from getting us relevant amenities like office and lab space, the ESA BIC UK introduced us to a wider network in ESA, which helped us get in touch with key partners and customers," CEO Rafael Jordà Siquier said.

"During our stay with the ESA BIC UK we achieved a series of important milestones. These include our first satellite launch from the International Space Station, winning a contract with ESA to become the first Space Mission Provider (SMP) on the ESA Pioneer partner programme, raising US$ 7 million in Series A funding, and winning a major contract with the Satellite Applications Catapult for its In-Orbit Demonstration Programme."