ESA has launched a series of kick-start Activities, a new funding scheme, to support startups and SMEs in designated fields including fintech, Activities will be funded at 75%, with ESA providing up to €60,000 per contract. The first call is dedicated to the theme Fintech. Registration is open.
The thematic Calls for Kick-start Activities designed for SMEs and start-ups looking for opportunities to develop their ideas for new business applications. The activities are designated to enable companies to undertake compact Feasibility Studies that explore new service and application concepts which make use of space capabilities. These may include Satellite Communications, Satellite Navigation, Earth Observation, and Human Space Flight Technology.
The Invitations to tender for Kick-start Activities are divided into Thematic Calls for which ESA member states, newcomers and organisations ESA has worked with can apply to participate. Projects will be funded at 75% by the Agency for a maximum amount of €60’000 per contract. In addition, successful Kick-start Activities can be further developed into commercially-viable businesses with follow-up support from ESA Business Applications in the form of a Demonstration Project.
The first call for Kick-start Activities is dedicated to the theme "FinTech". It is designated to support innovative FinTech-related applications and services based on the integration of space and non-space technology. Whilst the FinTech scope is broad, the following are some of the trends identified for the next few years: Low-cost service-based investing, "Robo-investing", Digital-based equity crowdfunding, Microinsurance and "just-in-time" insurance, Cryptocurrencies, (Big) data mining. Other FinTech-related applications and services different from the above list are also encouraged.
The Kick-start Activity proposed must demonstrate the relevant exploitation of space-based data and technology for instance:
- Earth Observation (SatEO): Diverse weather / environmental data useful in data analytics for financial services e.g. commodity markets, futures markers or insurance.
- Satellite navigation (SatNav): Useful for financial services requiring location. Integrity of EGNOS / Galileo can contribute to blockchain technology / crowsourcing schemes.
- Satellite communication (SatCom): Access to financial services from those locations in the world without access to the internet. Also as back-up communication for critical transactions.
Submission date of proposals closes on 19 September 2017. Further information and guidelines to the Fintech Call are available on the website.
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