Photo credits: Spacebit
Spacebit to Set Up Early Stage Accelerator in Luxembourg
UK-based Spacebit has announced plans to create an early stage space-related accelerator in Luxembourg.

As part of its commitment to help build a sustainable Lunar economy, Spacebit will establish an Accelerator Partnership Programme to encourage collaboration, enhance communication and help with the early finance stages for space companies.

The programme aims to help to address issues surrounding Moon commercialisation and Spacebit is looking to attract additional partners from the industry. It will be targeting early stage space companies with commercially viable models and technologies that will support future lunar missions and in-situ resource exploration. The programme will also help to select concepts with strong business cases around moon-related technologies and will also investigate their potential for future downstream applications.

In this context, Spacebit will create a collaborative centre of excellence for space tech companies in Luxembourg and the Accelerator will include a six-week programme hosted in the heart of Luxembourg.

The initiative will also be providing year round support, facilitating and encouraging knowledge sharing whilst providing access to a network of partners and additional funding options.

As Pavlo Tanasyuk, founder and CEO of Spacebit, explained: "We believe in Luxembourg as a hub for future space activities and hope to play a role in establishing and nurturing that ecosystem. It's a place where industry, small business, workforce training, entrepreneurs and venture capital intersect with the Luxembourg space community, sparking innovation and stimulating further business growth". He added: "Whilst there is already strong support for established space businesses we would like to create a pipeline of more early stage initiatives, that will bolster local space entrepreneurship at all levels".

Pavlo Tanasyuk continued: "Our focus will be on attracting early stage businesses to take part in an intensive six-week semi-residential programme in Luxembourg, with funding available for the best local and international applicants. We'll provide office space, initial investment, help in attracting subject specific experts and resources and create a collaborative environment that facilitates the next level of innovation".

The Spacebit Accelerator Partnership Progranme has been developed to specifically support the early stage space ecosystem and accompanies existing initiatives by the government and private sector in Luxembourg. International applicants are encouraged to apply.

Chronicle.lu

About Spacebit

Spacebit is a privately held UK company that is working on space data analytics tools and robotic concepts of space exploration that include AI and advanced microrobotics. The company believes in creating commercially sustainable data and robotics business in space exploration. Spacebit's approach to engineering is to deliver a low cost solution for exploration of celestial bodies. Its goal is creating new opportunities for industry, academia and helping with future development of a new infrastructure and commercial resource exploration on the Moon and beyond. Spacebit is also using distributed ledger technologies to create new data models and democratise access to space.