The ESA’s accelerator of new space economy in Finland
In 2017, the European Space Agency ESA, the Ministry for Economic Affairs and Employment and Aalto University signed a five-year agreement to open an ESA Business Incubation Centre (ESA BIC) in Finland, which will focus on space industry start-ups.
The aim of the accelerator is to provide Finnish industry and companies a connection to the application of new space technology through the influencing channels and programmes of the European Space Agency. It also funds start-ups together with Business Finland.
ESA BIC has facilities in Otaniemi at Aalto University’s Growth Centre in the A Grid. It works in collaboration with the Turku Science Park.
The space industry is a rapidly developing industry around the world, and much has also happened in Finland in recent years. The New Space Economy, meaning small-sized series produced satellites that will be launched to low altitude orbit, has brought new companies to the space market. Finland has already generated strong and reliable expertise in the manufacturing of small satellites and the services they provide.
The aim of the space accelerator is to provide Finnish industry and companies a connection to the application of new space technology through the influencing channels and programmes of the European Space Agency.
Finland's goal is to significantly increase the turnover of new business generated through space technology, and the ESA’s BIC strongly supports this goal.
The aim of the new space applications is to find solutions for issues such as Arctic telecommunications, positioning, shipping operations and environmental control. Services are intended to be scalable and applicable, for example, as solutions to global problems.
Finnish companies and research institutes have high-quality reliable expertise that can be used to achieve the space accelerator's goal of launching 50 new space companies in cooperation with research organisations and companies in the field by the end of 2021. The accelerator will strengthen our links to the ESA and, in addition to our start-up activities, it will also support research and teaching in Finland.
Applications can be submitted to the ESA accelerator by all Finnish companies that were established less than five years ago and which have innovative technology for the space industry or use space data or technology in their operations.
The target is to create ten new space sector companies each year.