More than £10 billion has been pledged to position the UK as a global leader as part of the United Kingdom (UK) Government’s ambitious 10-year vision for the space industry. British Space Agency Announcing the launch of an £8m campaign space portfolio within UK Innovation and Science Seed Fund (UKI2S) – managed by Future Planet Capital.
To accelerate the delivery of national space strategythis joint initiative is part of a strategic effort to direct investment into the space sector and advance and strengthen the UK’s position in the space industry.
The Space Portfolio aims to address the critical funding gap faced by early-stage space companies. Characterized by a lack of investment at risky pre-seed and seed stages, this gap poses a significant challenge for companies seeking to prove their technology and business model. Without the right support, many promising companies will stall, hindering innovation and economic growth. Recognizing that it is essential to close this funding gap, the Space Portfolio invests strategically in a wide range of early-stage opportunities in the space sector, driving innovation and driving the UK space industry forward.
The Space Portfolio will leverage UKI2S’ extensive expertise and track record in supporting, funding and mentoring early stage businesses and accessing a robust network of public institutions and research centres. Investment amounts typically range from £100,000 to £500,000, and this funding will play a vital role in enabling start-ups to scale and grow in the competitive space industry environment. .
The portfolio will also engage with the UK Space Agency’s existing programs and initiatives and actively seek collaboration opportunities to maximize its impact. european space agency Initiatives to ensure comprehensive support for up-and-coming space companies.
Andrew Griffiths MP, Minister for Space, Department of Science, Innovation and Technology; Said, “This government is on the side of innovators and risk-takers in rapidly changing areas like space. The purpose of today’s new Space Investment Fund is to ensure that we harness the potential of our homegrown talent and provide support to bring them to the global space market, benefiting our economy.”
Shruti Iyengar, Investment Manager at Future Planet Capital, Investment Leader for the Space Portfolio within UKI2S Said, “Our collaboration with the UK Space Agency allows us to be at the forefront of building the UKI2S space portfolio and make a significant contribution to the development of the space industry. With many years of nurturing startups from pre-seed to exit across many sectors, the team is excited to support UK space technology entrepreneurs to scale their ideas from early stages of company development to critical stages of growth. Masu. Innovations with global impact.”
Dr. Barbara Ghinelli, Innovation Cluster and Harwell Campus DirectorSaid, “Seed investments in early-stage space companies are critical to the economic growth of the space industry and its role in the global arena. We are pleased to see this progress. We look forward to further supporting founders and companies as they progress from early stage to scale-up. We continue to strengthen our next generation cluster pipeline across the UK, driving opportunity and innovation at every stage of the enterprise.Method”
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