In the era of Industry 5.0 and rapid technological advancements, the New Space Era and emerging space economy are presenting new prospects for commercializing space exploration, leveraging cutting-edge technology, and capitalizing on space-based data. These developments bring forth increased opportunities while simultaneously lowering barriers to entry for new actors in this domain.
The Ostrobothnian Regional space Business and InnovaTion (ORBIT) project facilitates the new space innovation funnel in the Ostrobothnian Region. Partnered with the European Space Agency Business Incubation Centre Finland (ESA BIC Finland) and VAMK, we discuss with start-ups the multi-stage processes associated with space innovation, the development of new companies, and how to successfully acquire funding from entities such as Business Finland and ESA BIC. Through leveraging prior stages, harnessing the potential of space technologies and data for expanding services, and equipping stakeholders for commercialization, we can elevate the Ostrobothnia and Vaasa region into a prominent national space innovation hub.
Each start-up accepted into the ESA BIC Finland incubation program will receive technical support in space data and its application as well as business development coaching. We also facilitate matchmaking with investors, venture capitalists and networking with corporate partners and other startups at the West Coast Hub of the ESA-BIC Finland – the Vaasa office.