FUSION Programme: Accelerating Investment in UK Space Startups

Entrepreneurial Spark, in partnership with the UK Space Agency and Exotopic, is excited to introduce the FUSION Connect With Capital programme, a groundbreaking initiative designed to propel promising UK space entrepreneurs to new heights. This high-value investment completion programme aims to fast-track early-stage space industry startups in securing funding from angel investors and appropriate funds.

Participants will benefit from exclusive access to investors during two high-profile demo days. They will also collaborate with peer startups on the investment path and receive specialized support in key areas like term sheets, valuation, and investment terminology. This is supplemented by coaching from experienced investors and exited founders on improving investability.

The Need for FUSION

The Space industry, being smaller and less established than other sectors, faces unique challenges in attracting early-stage investment. With fewer successfully exited founders in Space, there is a smaller pool of natural angel investors. Furthermore, the market sizes for space companies are generally smaller, and the path to market, especially for upstream companies, is longer and more complex.

These factors make securing seed investment in the Space sector more challenging than in other industries. FUSION aims to address this by preparing space entrepreneurs for investment, connecting them with early-stage investors, and drawing new investors to the sector.

Mike Stephens, CEO of Entrepreneurial Spark, expressed his excitement: “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.”

Investment Prospects in Space

The Space sector is vital for numerous daily services, from telecommunications to agriculture. Increasing technological advancements are opening up new opportunities and markets. The commercial Space industry, growing at 21% annually, now represents 77% of the global market. FUSION aims to support this growth by helping 15-20 space entrepreneurs cross the investment threshold.

Chris McQuire, Head of Space Ecosystem Development at the UK Space Agency, commented: “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.”

To be eligible for FUSION, entrepreneurs should be in the process of raising seed or pre-seed funding up to £1m, operating within the Space sector, and have a UK registered company with a commercial proof of concept and a credible team. The application deadline is 12th January 2024, with ongoing reviews encouraging early submissions. More information is available at: https://www.fusionconnectcapital.co.uk/

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