Development Agency initiates space agency business incubator

Three consortiums, working under Poland's Industrial Development Agency (ARP), signed an agreement on Monday, aimed at establishing the first business incubator for the European Space Agency in Central Europe.

European Space Agency Business Incubation Centres (ESA BIC), financed by the European Space Agency, is a network of business strategy centres aimed at supporting start-ups in the space sector.

The agreement was signed by Poland's Industrial Development Agency, the ESA BIC's head, Blue Dot Solutions and the Foundation for Technology Entrepreneurship.

"This sector is growing very fast globally. We would like Poland to take part in this growing market even more effectively (...) and to apply for the establishment of an ESA incubator in Poland through this consortium. This will be the first incubator of its type, an entrepreneurship school for the space sector in Central Europe," Polish Entrepreneurship Minister Jadwiga Emilewicz said.

According to the ARP, ESA incubators cooperate with research centres and institutions that can finance the development of entreprises, among others with banks and investments funds. Thanks to the cooperation with ESA, start-ups benefit from the substantive support of the agency.

A start-up in the incubation process receives among others EUR 50,000 of non-returnable financial support, 80 hours of technical support and assistance in promoting projects on the international stage. Every ESA BIC unit operates for up to five years, during which dozens of startups may be developed.