Interested in Policy Making? Read our InnORBIT Policy Recommendations on how to create favourable framework conditions and especially (more) innovative financial support frames for boosting space innovation in EU regions. Technological innovation plays a crucial role in driving GDP growth and generating various benefits for citizens and communities. Turning science and technology-based inventions into successful innovations that enter the market requires specific conditions and national investment, significantly impacting long-term economic growth and creating new markets and industries.
While entrepreneurs are essential drivers of innovation, they alone are not sufficient. Successful innovations are the result of entrepreneurship ecosystems that involve various key actors, such as universities, financial firms, large corporations, and public organisations. These ecosystems are interconnected and require support mechanisms and facilitated access to finance.
In the space sector, SpaceTec Partners has developed a methodological framework to assess a country's or region's Space Innovation Support Framework. This framework aims to support public actors in providing services to innovators, enhancing their chances of success, and enabling faster scaling when ready. Eight key components have been defined for a successful space innovation ecosystem.