UK Space Agency has welcomed four entrepreneurs to the accelerator programme this year. The accelerator programme aims to develop a thriving ecosystem of high-growth space entrepreneurs in every corner of the UK. The four selected will join other participants for the agency’s first Explore programme as they take their first commercial steps into the UK’s space industry.
The three programmes available are:
Explore – Explore is perfect for those making their first steps into the commercial space industry and is aimed at those with some space knowledge or with an idea from another industry that has potential in space.
Leo – Applicants to the Leo programme will have Proof of Concept in place and will be at the development stage. Space knowledge will be slightly more developed and applicants might already be working in the space sector.
Geo – Geo is designed for entrepreneurs with some market traction and now looking to grow their business at pace.
Space start-ups generated almost £9 million in investment and created 80 new jobs after taking part in a UK Space Agency-backed business support programme. The UK Space Agency Space Accelerator Programme, delivered by Entrepreneurial Spark, worked with entrepreneurs from all over the UK aged between 18-70, with business expertise in sectors such as aerospace, law, quantum technology, farming, environmental engineering, and healthcare.
The UK Space Agency awarded £360,000 to the Accelerator over two financial years. This catalyzed a total investment of £8.79 million from other grants and investors, opening up 80 new jobs and directly assisting 88 individual businesses between January 2020 and April 2022. Since joining the programme, participants have reported an increase in their business turnover and customer numbers, as well as improved confidence in their own leadership skills, strategy planning, business models and partnerships.