The first Tender Evaluation Board (TEB) for Space startups is officially closed. The team of experts consisted of ESA BIC Latvia Manager Lev Lapkis, ESA BIC Commercialisation Officer Maud Moullec, and Head of the Latvian delegation to ESA Kaspars Karolis with the help of local Space economy experts from RTU Science and Innovation Centre,the Institute of Aeronautics of RTU FMETA and Institute for Environmental Solutions.
Seven shortlisted start-ups that met ESA BIC's evaluation criteria pitched their cases, with some presenting their business cases for the first time. TEB was thrilled to see promising start-ups present bold, ambitious ideas to commercialize space technology. After a careful review, the evaluation board decided to propose an incubation contract to two companies.
Start-ups that didn't pass the review due to the TEB's strict criteria will have the chance to get a debrief about the review with some recommendations that the companies could implement in their business proposals. While ESA BIC Latvia will disclose the details of the selected start-ups later, TEB can already share that one of the companies is developing an upstream solution focusing on innovations within space technology. The second start-up is engaged in downstream applications, utilizing space data and services for commercial use on Earth.🛰️
ESA BIC Latvia is committed to fostering a strong space-related entrepreneurial environment by providing technical, financial, and business support to start-ups working on innovative space solutions. This selection round marks the beginning of many exciting developments in Latvia's emerging space sector. In the coming years, we hope to incubate at least 12 promising start-ups, each receiving the following benefits:
🎯 €60k equity-free funding for product, service and IP development;
🎯 Up to 2 years of business incubation at an ESA BIC;
🎯 Technical support from leading experts in the region and from ESA;
🎯 Business coaching;
🎯 Legal and IPR advice;
🎯 Fundraising guidance and opportunities;
🎯 Access to business partners and networks;
🎯 Workshops and trainings;
🎯 Quality sign and access to ESA tender calls.
Applications to the ESA BIC Latvia incubation are open year-round, but for now, the tender board meetings will take place twice a year, with the next one planned for this summer (this is subject to change if we receive more promising applications throughout the year). Don't hesitate to ask questions; please email info@esabic.lv and apply to the incubator via the ESA BIC Latvia website.
