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Thursday, June 13, 2024

Launch of FUSION: A Gateway for UK Space Startups to Access Capital

Entrepreneurial Spark, in collaboration with the UK Space Agency and Exotopic, proudly announces the FUSION Connect With Capital programme. This innovative investment completion programme is tailored for the UK’s most promising space entrepreneurs, aiming to expedite their access to crucial funding from angel investors and suitable funds.

The FUSION programme offers participants the chance to present their startups to potential investors at two exclusive programme demo days. In addition, they will receive in-depth technical assistance in areas like term sheets, valuation, and cap tables, as well as guidance from accomplished investors and entrepreneurs on enhancing investability.

Why FUSION is Essential

The Space industry, smaller in scale compared to other commercial sectors, often struggles to attract early-stage investment. The sector has fewer successfully exited founders, leading to a limited number of natural angel investors. Space startups, especially those in upstream markets, face prolonged routes to market and smaller market sizes.

These challenges contribute to the difficulty of securing seed investment in the Space sector. FUSION aims to mitigate these hurdles by equipping space entrepreneurs to be investment-ready, connecting them with a network of early-stage investors and attracting new investors to the sector.

Mike Stephens, CEO of Entrepreneurial Spark, shared his enthusiasm: “I am thrilled to announce the launch of FUSION, an exceptional opportunity set to redefine investment completion for space entrepreneurs in the UK. FUSION has partnered with leading investment experts in the Space sector, and we are now ready to accelerate entrepreneurs in securing investments. Our mission is to bridge the gap between the space startups and investors, both new and existing, who are eager to explore the growing opportunities within the UK Space sector.”

Investing in the Space Sector

Space technology underpins a wide array of essential services, with new technologies constantly emerging to expand opportunities in the sector. The private investment in Space is increasing at a rate of 21% per year, with the commercial Space industry accounting for 77% of the global market. FUSION is set to bolster this trend by supporting 15-20 space entrepreneurs in their investment journey.

Chris McQuire, Head of Space Ecosystem Development at the UK Space Agency, said: “The launch of the FUSION programme is a pivotal moment for the support of early-stage space startups and entrepreneurs in the UK. We want to see more fund managers, angel investors and syndicates connecting with the sector, and more technical support available to startups to boost their chances of success when pitching their business. This is another great example of our work to catalyse more investment into the UK’s growing space sector, and I look forward to seeing the results.”

Entrepreneurs interested in FUSION must be pursuing seed or pre-seed funding up to £1m, involved in the Space sector, and have a UK-registered company with a proven commercial concept and a strong team. Applications for the programme close on 12th January 2024, with ongoing reviews encouraging early applications. For more details, visit: https://www.fusionconnectcapital.co.uk/

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