The management and implementation of the incubator in Latvia will be ensured by the Commercialization Reactor, which won the public tender announced by the European Space Agency.
“With the launch of ESA BIC Latvia, Latvia will enter the elite of the European space ecosystem. This milestone provides our startups with access to a world-class platform for growth and innovation,” says Nikolajs Adamovičs, founder and board chairman of Commercialization Reactor.
He says that previously, in order to join the network of Business Incubation Centers of the European Space Agency, Latvian entrepreneurs had to look for opportunities abroad. Now they will be able to grow and succeed in Latvia. “The European Space Agency’s Business Incubation Center will open up opportunities for startups to become recognized and will open doors to internationally significant projects and large clients, thus positioning Latvia as a key player in the European space sector,” says Adamovičs.
ESA BIC Latvia has attracted 24 partners in Latvia, including Riga Technical University, the University of Latvia Institute of Solid State Physics, and Ventspils University of Applied Sciences.
ESA BIC Latvia has three objectives: to support the establishment of startups connected to space industry technologies or digitalization, utilizing satellite data, business, and government services on Earth; to create new jobs; to develop knowledge-intensive business in Latvia using the European Space Agency’s Business Incubation Center program.
All services at ESA BIC Latvia will be available free of charge, allowing entrepreneurs to focus on innovation and business growth. The goal is to create new technologies that drive the development of the space economy or improve the day-to-day operations of the space industry.
“Our mission is to build a sustainable community of space startups, positioning Latvia as a science-based economy with a strong focus on the space industry. We believe this can be achieved through systematic support for creating new and globally positioned companies. For example, it’s not immediately necessary to think about launching rockets or building satellites; the market demands new materials and components, services for space missions, and satellite data usage to boost the economy,” says ESA BIC Latvia head Ļevs Lapkis.
Boost for at least 12 startups
Over the next five years, the Commercialization Reactor plans to support at least 12 startups, providing financial support, two years of business coaching and training, as well as technical assistance, access to space data, and legal consultations.
It was previously reported that by the end of 2029, Latvia’s European Space Agency Business Incubation Center would support at least 18 space-related business ideas, offering €40,000 support for each project. Initially, it was intended that the European Space Agency’s Business Incubation Center would start operations already last year. It was also previously publicly announced that over five years, 25 companies would be supported, each receiving €60,000 in support.
To boldly go...
The European Space Agency’s Business Incubation Centers have been operating for more than 20 years, but the opportunity to establish such a center in Latvia has only recently arisen. First, Latvia had to become an associate member of the European Space Agency, which happened in 2020. In 2023, upon request from the Ministry of Education and Science and the Ministry of Economics, the European Space Agency announced a tender with the possibility of opening ESA BIC Latvia.
“Space innovations have no boundaries, and the launch of ESA BIC Latvia reflects our commitment to foster a thriving startup ecosystem across Europe. We want Latvian entrepreneurs to contribute to the global space economy, supported by the resources and expertise of the European Space Agency,” says the European Space Agency’s Head of Commercialization Department Luka del Monte.
Over the past 20 years, the European Space Agency’s Business Incubation Centers have helped develop more than 1,700 startups. More details on what they are and how they work can be found here.
