Enterprise Ireland has signed an agreement with the European Space Agency (ESA) to develop a Space Business Incubation Centre in Ireland (ESA BIC Ireland).
The Space business incubator has the objective of supporting 25 start-up companies in space related technologies over the next five years.
There are currently more than 45 Irish companies working with ESA in the development of technologies for space systems and space-related services and applications.
The Irish Government’s annual investment in ESA for 2015 was an estimated €76 million in 2015. This has also resulted in the creation of 600 technology jobs in Irish industry, which is projected to double by 2020.
Julie Sinnamon, CEO, Enterprise Ireland, said: “This agreement will foster increased innovation and business development opportunities within the space industry and research sectors in Ireland and Europe. It will also support Enterprise Ireland client companies who are developing new and innovative technologies for the European Space Programme and the global space market, in areas such as advanced materials, microelectronis, avionics and space-related services, which will create new opportunities and more jobs in this rapidly growing sector.”
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