The focus of the accelerator programme is on building sustainable business models rather raising investment.
Specifically, it is a free, six month virtual programme, designed to support up to 20 businesses that are “post proof-of-concept and ready for their next stage of growth”.
It has been commissioned by the UKSA and will be delivered in partnership with Entrepreneurial Spark. Applications are now invited and the programme starts on 20 September 2021.
“Whether your specialism is design, engineering, research, logistics or communications, space offers opportunities for businesses in every part of the UK,” said Portia Bircher, local growth manager at the Agency.
“With the private sector playing an increasingly crucial role growing the industry, we are committed to providing world-class advice and support for UK firms of all sizes who want to join us in exploring this new and lucrative frontier.”
The programme will provide: a Welcome Bootcamp; Fortnightly 1-1 Accountability Coaching; Access to networks within the Space industry; Monthly industry led information sessions; Fortnightly, lunchtime Action learning Webinars, focused on 3 key growth strands (Leadership and Infrastructure, Numbers and Fundraising, Go to Market Strategy & Customer Acquisition); Monthly Legal and Financial drop-in clinics; Online digital library of recordings and resources; and a 90 Day Exit Plan.
You can find out more information, and apply, at www.entrepreneurial-spark.com/leo
A previous, 10-week version of the programme took place earlier this year. Eight jobs were created as a result of the scheme, says the UKSA, and the firms which took part raised £900,000 through equity funding and grants during the programme.
Thirteen secured new partnerships or substantial customers and 13 entrepreneurs who were introduced to the space sector through the programme have said they will remain there.
As well as those directly involved in space, businesses taking part came from sectors such as mechanical engineering, textile manufacturing, cosmetics, bio-plastics and finance as well as university spin-outs working on technological developments based on research.
Image: Entrepreneurial Spark
See also: UK gets a Space Sector Landscape Map