Happy SME Day!
Don’t let the name fool you. There’s nothing small about the impact SMEs have on the EU economy. In fact, of the over 32.3 million businesses in Europe, a staggering 99% are small and medium sized enterprises (SMEs).
What’s more, these companies employ nearly half of all people employed by an enterprise. Generating nearly EUR 12 trillion in revenue, SMEs also account for 31% of the EU’s total turnover.
But more than being the economic backbone of Europe, SMEs are also its lifeblood. That’s because SMEs are often at the forefront of innovation and are a key cog in the supply chain. This is particularly true for the space sector, where SMEs not only drive market growth, but also deliver innovative, space-based solutions that directly benefit citizens and help the EU achieve some of its core policy initiatives.
“Europe’s space SMEs are critical to European competitiveness, and with the right support, we can ensure that these economic powerhouses continue to punch above their weight,” says EUSPA Executive Director Rodrigo da Costa.
For EUSPA, that support takes the form of funding opportunities like the flagship Horizon Europe and Fundamental Elements mechanisms. Then there’s the EU Space Academy Learning Platform, an online training initiative open to those looking to learn the ins and outs of building a space application business. EUSPA also supports a wide range of contests and awards designed specifically for SMEs, including the CASSINI Challenges and popular CASSINI Hackathon.
Smart market intelligence makes for even smarter SMEs
EUSPA further supports space SMEs by providing the in-depth market intelligence they need to compete. “We are well-known across the industry as a leading source of critical market intelligence, one that is regularly relied upon not just by SMEs and entrepreneurs, but also policymakers and major corporations,” explains EUSPA Head of Market, Downstream and Innovation Fiammetta Diani.
EUSPA’s rich library of publications includes such marquee titles as the EO and GNSS Market Report, GNSS and Secure SATCOM User Technology Report, EU Space for Green Transformation and GNSS Investment Report, amongst others.
Supporting SMEs today – and everyday
EUSPA is also a key partner in helping SMEs turn a bright idea into a business success story. Through initiatives like the EUSPA Start-Up Accelerator Database, CASSINI Matchmaking, CASSINI Business Accelerator and CASSINI Investor Network, we support SMEs throughout the entire product development process – from finetuning to fundraising, prototyping to testing. We can even help get your product ready for commercialisation.
“While today we celebrate Europe’s small and medium sized enterprises, EUSPA’s SME support is an everyday affair,” concludes da Costa.
Information about how EUSPA supports SMEs is available 24/7 here. Or contact our entrepreneurship team at entrepreneurship@euspa.europa.eu.
Media note: This feature can be republished without charge provided the European Union Agency for the Space Programme (EUSPA) is acknowledged as the source at the top or the bottom of the story. You must request permission before you use any of the photographs on the site. If you republish, we would be grateful if you could link back to the EUSPA website.