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European Space Agency launches a Business Incubator Center in Portugal

The European Space Agency is opening an “incubator” in Portugal to support companies that apply “space technology” to a wide range of sectors.

The initiative aims at promoting the creation of startups that will transfer space technology to sectors ranging from, health, energy, transportation to safety and urban life.

In the coming five years, the ESA BIC Portugal is expected to invest 8 million euros to support up to 30 companies and create 120 new jobs.

This program will be managed by a consortium led by the Institute Pedro Nunes and will also involve the Science and Technology Park of the University of Porto and the DNA Cascais Agency.

Carlos Cerqueira, Director of the Innovation Department of the Institute considers that “this program has unique characteristics since fosters the establishment of startups, that will use already tested space state-of-the-art technologies, to generate disruptive innovations tailored to the global markets.

Source: InvestLisboa

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