Funding
The European Space Agency and Triangle Venture Capital Group have announced the first closing at €15 million of their planned €100 million Open Technologies Fund, which will invest in terrestrial applications of space technologies.
The Fund says it will target groundbreaking technologies, which will be commercialised in agile and fast-growing start-ups with experienced management teams.
Frank Salzgeber, Head of ESA‘s Technology Transfer and Programme Office, said space makes unsurpassed demands. “Technologies that satisfy these demands are without a doubt the best that mankind can think of. The potential for terrestrial applications has been proven and that‘s what we want to capitalise on.”
Bernd Geiger, Managing General Partner at Triangle said there is great potential in approaching the pool of space technologies in a structured way. “Nurturing the most promising technologies in young and dynamic start-ups, but with experienced management and industry best practices, has been proven to be the most effective way to spin them off and successfully commercialise them.”
The fund will source potential investment opportunities in all the 18 countries that are members of ESA.
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