Azerbaijan-based entities, Azercosmos OJSC and the Innovation Center for Social Innovation Lab (Sil), have recently announced the launch of a NewSpace Business Accelerator programme, a challenge-based innovation programme for startups in space industry and solutions in different fields using space technologies to solve emerging issues in their respective sectors.
NewSpace is an acceleration programme that provides technological, industrial and business mentoring and offers seed funding for early stage space startups. Successful NewSpace applicants gain access to close cooperation with major global space tech companies that hunting for promising and innovative technologies.
The programme provides business support packages of approximately USD 59,000 (100,000) manat from various business partners and a seed funding of $11,747 (20,000) to three startups who have been chosen for the programme.
Startups and idea authors accepted for the programme will receive four months of intensive acceleration and opportunities to attract major new investment.
The deadline for the “NewSpace” Business Accelerator program is November 15, 2018.