The City of Prague officially confirmed financial aid in the amount of CZK 22.3 million for CzechInvest’s ESA BIC Prague programme. The approved aid comprises regional cooperation in the programme. The same amount will be provided by the European Space Agency. The funding will be used to support a total of 25 start-ups over a five-year period. CzechInvest will administer the funding in cooperation with the Ministry of Industry and Trade of the Czech Republic.

The concept of ESA Business Incubation Centres consists in supporting the transfer of space technologies into terrestrial sectors and commercialisation of the results thereof, while also providing support for research, development and innovation.

ESA BICs are already operating successfully in 12 European cities. Prague will soon become the thirteenth location and the BIC here will be the first incubator of its kind in Central and Eastern Europe.

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