Early stage space technology businesses have a new and dedicated source of funding thanks to a tailored programme that connects angel investors with high-growth space-enabled start-ups.
LBA’s highly successful Angels in the City and Angels in MedCity programmes that have nurtured 750 new investors since 2012, as well as helping over 100 start up and early stage companies raise £200m of new angel investment. Angels in the City is operated by LBA in conjunction with City of London, and Angels in MedCity with MedCity.
UK Space Tech Angels will bring together potential investors with sector experts in a programme aimed both at those who are new to investing and experienced investors.
UK angels currently invest two to three times more than venture capitalists in early stage technology companies, with over £2 billion reported by HMRC as invested in 2015 by private investors under the SEIS/ EIS Schemes alone. Currently only a very small proportion of this is invested into space sector companies, however LBA believe this picture will change rapidly as more investors develop their understanding of the sector and its investment opportunities, through tailored initiatives like UK Space Tech Angels.
Since the turn of the century, the UK Space economy has nearly trebled, growing at a compound annual growth rate of 8.8%, according to the Case for Space 2015 Report by London Economics. The UK Government has set an ambitious target to capture 10% of the global space enabled market, estimated at £400bn by 2030. The space industry is a key part of the Government’s Industrial Strategy that will continue to develop the UK space ecosystem and increase its export potential around the world.