29 September 2020 Go2Space HUBs – Helping the Creation and Up-Scaling of European Businesses in the Space Sector The space investment landscape in Europe is not well-developed. In fact, only 20% of the companies in this sector are investing in Space. The investment focus areas at the moment are satellite management, communication services, new materials, micro-launchers (Pangea Space), and in-space traffic management tools (Asgard Space). The Main Problems in the European Space Industry While European companies remain competitive with regard to many innovations that have impacted the space industry, such as: micro- and nanoelectronics, digital transformation and convergence, and optical and ubiquitous communications, leadership has rarely translated into a commercial advantage within the space sector. Investors in this sector believe the main challenges that the Space industry faces include: A lack of established markets for the technology Large investment levels needed Slow technology adoption In addition to that, investors need to address other significant risk factors like market immaturity and high-tech, privacy and regulatory uncertainty. The scarcity of scale-up funding in Europe is a critical shortfall, which often leads to a flight of talent and companies to the US, where the financing landscape is currently more favourable. In order to encourage the development of Space sector companies, the European Commission is financing Go2Space HUBs. A project where Tech Tour is in a consortium with other 5 partners, coordinated by Universidad Carlos III de Madrid. What Problems Does Go2Space HUBs Solve? The project’s objective is to secure the creation and up-scaling of European businesses that: Offer services and technology in and from the Space sector, ensuring value creation and innovation through training, cross-fertilization, and locally owned and driven networks and initiatives that connect effectively with existing EU initiatives. Go2Space HUBs achieves this objective through specific actions, including: Incubation of 20 Entrepreneurs and Early Stage Space Start-ups at the Coimbra and Tallinn HUBs. Acceleration of 20 established Space Start-ups at the Madrid HUB. Facilitating funding of Space Start-ups through innovative support frames by creating new collaborations opportunities. You can apply at https://go2space-hubs.eu/ The Role of Tech Tour One of Tech Tour’s tasks for the Go2Space HUBs project was to understand the access to finance, the barriers for space start-ups, and the perception of the space sector among investors. To do that, Tech Tour did a qualitative and quantitative research to develop a report. It included the preliminary findings on need, barriers, and facilitating factors for access to finance for space start-ups. This report will be available on the Go2Space HUBs website.