UK Space Agency gives startups a financial boost

Photo: UKI2S Space Portfolio

The UK Space Agency (UKSA) is to provide further financial support to UK-based space start-ups. The company will launch his £8 million ($9.95 million) space portfolio within the UK Innovation and Science Seed Fund (UKI2S), managed by Future Planet Capital. The Space Portfolio aims to address the critical funding gap faced by early-stage space companies. The space portfolio was announced on April 17th.

The Space Portfolio will leverage UKI2S' extensive expertise and track record in supporting, funding and mentoring early stage businesses and accessing a robust network of public institutions and research centres. Investment amounts typically range from £100,000 ($124,000) to £500,000 ($622,000), and the capital is used to help startups scale and grow in the competitive space industry environment. It will play an extremely important role.

The purpose of today's new Space Investment Fund is to ensure that we harness the potential of our homegrown talent and provide support to bring them to the global space market, benefiting our economy. By working with the UK Space Agency, we will be at the forefront of building his UKI2S space portfolio and will be able to make a significant contribution to the development of the space industry. said Shruti Iyengar, Head of Investment for the Space Portfolio within UKI2S and Investment Manager at Future Planet Capital. said in a statement.

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