- January 19, 2023
- Posted by: EARSC
- Categories: EARSC Events, EARSC News, EOcafe, Uncategorised
Creating & Growing a New Business in Europe
How to overcome the growing pains
Thursday 26th of January 2023
Creating a business and making it grow over the years is a challenging, time-consuming, long-lasting process which requires a lot of skill and determination. It can sometimes seem like a lonely road full of unexpected barriers and potholes. But for those with the stamina, the rewards can be great and for those needing support, it is often available from several sources.
In Europe, there are many benefits to creating or growing a company. It provides a single market with around 450 million consumers which allows businesses to expand their customer base and reach new markets. It provides economic stability which is a very attractive parameter for investors. It also provides access to several financial instruments. EU has also a large pool of skilled workers, making it an attractive destination for companies looking to expand their workforce and last but not least the favourable tax regime is also another important factor. Is this the case in the space sector?
Is Europe a good place to be for a new EO business?
The increasing recognition of the digital economy and the role that space assets can play is driving new measures in Europe. With globalisation and stronger competition from emerging countries, the European Union’s industrial policy aims to help make EU industry and business more competitive and promotes job creation and economic growth by creating a business-friendly environment.
Recognising that space is a driver for growth and innovation which can also foster independence and security for the EU, the EU Space Industrial policy is centred around five specific objectives:
- Establish a coherent and stable regulatory framework;
- Further develop a competitive, solid, efficient and balanced industrial base in Europe and support SME participation;
- Support the global competitiveness of the EU space industry by encouraging the sector to become more cost-efficient along the value chain;
- Develop markets for space applications and services;
- Ensure technological non-dependence and independent access to space.
In this framework, several instruments are helpful for the creation and development of space businesses in the EU. For example, the Multi-annual Financial Framework (MFF) of the Union for the 2021- 2027 period has set aside EUR 13.2 billion for space activities. The Horizon Europe Work Programme 2021-2027, the EU flagship programme for research and innovation, contains several projects to support both the upstream and the downstream sectors. In addition, there are other ways in which the EU can stimulate the development of the European space industry, such as through pre-commercial procurement for innovation or dedicated SME procurement in the space sector.
Do all these make Europe a good place to set up a company? In this EOcafe we will reply to this question, discussing with two young space companies, EARSC members ICEYE and Satellogic. Mr Tero Vauraste (Senior BD Advisor at ICEYE) and Ms Fernanda Ledo (EMEA Sales Director at Satellogic) will share with our host Geoff Sawyer (EARSC Strategic Advisor and former Secretary General) their entrepreneurial journey. Come and join us to learn from their different experiences, one of them being a young company established in Europe and the other expanding its businesses in Europe!
Topics which could be addressed during this EOcafe include the following:
- Why is Europe a good place to set up a space company?
- What have been the critical steps along the establishment of your company?
- What were the hardest challenges in developing your business and how did you overcome the barriers?
- Supporting mechanisms, are they bad or good for a new company? Have you used any of the EU initiatives such as CASSINI or the European Space Agency’s Business Applications?
- How did you manage to scale up your business?
- How to stay competitive?
Registration: The webinar is open to all. Registration is free but compulsory. Please click on the following link to register.
Please note this is a virtual event!
EOcafe is part of a series of EARSC meetings that offer timely, relevant, and practical information on a broad variety of topics related to the EO sector. Join us every two weeks to discuss and network while enjoying a cup of coffee with friends.
- The use of a video camera is not mandatory but is encouraged to facilitate better interaction between the attendees and the guest speaker(s).
- The EOcafe will stay open after 17:00 in case our guests want to continue the discussion.
- By registering for this event, you accept the terms and conditions (https://earsc.org/wp-content/uploads/2021/03/EARSC_Events_GDPR.pdf).
If you have any questions, and/or you want to know more about the EOcafe, and/or you want to share an idea about a future EOcafe, please contact Natassa (email@example.com).