EC, EIB, and ESA combine to boost European space funding

The European organisations signed a collaboration arrangement that will include the involvement of SMEs and start-ups. They say that – despite existing funding initiatives such as CASSINI, with its €1 billion investment capacity – “access to debt funding remains challenging”.

The collaboration aims “to foster cooperation and coordination with a focus on providing financing and advisory support for European space companies”. Basically, to improve access to finance, encourage knowledge sharing, and stimulate development of cutting-edge space technologies.

“[The] agreement marks a milestone in European space collaboration,” said the ESA’s Director General Josef Aschbacher. “The convergence of ESA’s technical and scientific expertise with the financial acumen and backing of the EIB and the policy support of the European Commission creates a formidable alliance.”

“This partnership is more than just a commitment to collaboration; it is a testament to our shared vision. Together, we are paving the way for groundbreaking advancements and ensuring that European space companies are at the cutting edge of innovation and competitiveness.”

The agreement was signed at the 16th European Space Conference, which took place in Brussels and addresses the European space ecosystem.

The European Investment Bank (EIB) is the financing institution of the European Union, while the European Commission is its political executive. The ESA, meanwhile, also includes non-EU members such as Great Britain. It’s funded from by contributions by individual member states as well as by the EU. It is not to be confused with EUSPA, the European Union Agency for the Space Programme, which manages the European Union’s Space Programme and works with the ESA.

Image: EIB – Funding for SES to fund software-defined satellites

See also: European Investment Bank backs software-defined satellites for SES