FUSION Connect With Capital Investment Completion Programme Unveiled in Partnership with the UK Space Agency, Entrepreneurial Spark and Exotopic

UNITED KINGDOM, 23 November 2023 – Entrepreneurial Spark, a leader in entrepreneurial acceleration, is thrilled to announce the launch of its latest initiative together with the UK Space Agency and in partnership with Exotopic. FUSION Connect With Capital is a new, high-value investment completion programme available to the most promising space entrepreneurs in the UK. 

The programme accelerates early-stage Space industry startups to raise funding from angels and stage-appropriate funds. Selected entrepreneurs will gain direct access to investors with funds to deploy at two prestigious programme demo days. They will also get the opportunity to work with other leading startups at the same stage on the investment trail. Furthermore, the programme will provide deep-dive technical support on term sheets, valuation, cap tables and investment terminology, combined with experienced investors and exited founders coaching on investability.

Why Fusion?

The Space industry is comparatively smaller than other commercial sectors that attract early-stage investment. Many angel investors are often successful founders in specific industries and tend to reinvest in startup sectors which they are already familiar with.

Space, however, has comparatively fewer successfully exited founders, and therefore fewer “natural” angel investors. The market sizes for space companies tend to be smaller, and the route to market particularly for upstream companies is longer.
  
The above factors contribute to the heightened difficulty of securing seed investment in the Space sector compared to other industries. Overcoming these initial commercial hurdles continues to pose a significant challenge. At the seed stage, most entrepreneurs are too early for VC funding. Therefore they have to seek funding in the small pool of space-oriented angel investors, or find other angels and make the case for an industry with which the investors are unfamiliar. 

The FUSION programme aims to solve this challenge by enabling space entrepreneurs to become truly investment-ready. Entrepreneurs will be connected with early-stage investors and angels. Furthermore the programme will also attract new investors to support and contribute to the Space sector. 

Mike Stephens, CEO of Entrepreneurial Spark, said: “I am thrilled to announce the launch of FUSION, an exceptional opportunity set to redefine investment completion for space entrepreneurs in the UK. FUSION has partnered with leading investment experts in the Space sector, and we are now ready to accelerate entrepreneurs in securing investments. Our mission is to bridge the gap between the space startups and investors, both new and existing, who are eager to explore the growing opportunities within the UK Space sector."

Space technology enables a huge range of the services we rely on for daily life, from telecoms to agriculture. New technology means that our ability to harness the opportunity that Space presents is increasing all the time. This has catalysed the early signs of a flourishing startup ecosystem within the sector. Disruptive technologies are emerging that will create new markets and improve life here on earth.

Private sector investment in the sector is growing at 21% per year, and the commercial Space industry now accounts for 77% of the global market. The FUSION programme aims to support this trend by accelerating 15-20 space entrepreneurs over the investment threshold. 

 

Chris McQuire, Head of Space Ecosystem Development at the UK Space Agency, said: “The launch of the FUSION programme is a pivotal moment for the support of early-stage space startups and entrepreneurs in the UK. We want to see more fund managers, angel investors and syndicates connecting with the sector, and more technical support available to startups to boost their chances of success when pitching their business. This is another great example of our work to catalyse more investment into the UK’s growing space sector, and I look forward to seeing the results."

Entrepreneurs who wish to take part in the FUSION programme must be raising seed or pre-seed funding in a round of up to £1m and either be in the Space sector, using space technology or be part of the space supply chain. Additionally, they must have a UK registered company, operating in the UK with commercial proof of concept and credible team in place. 

The programme provides space entrepreneurs with an extraordinary opportunity for growth and investment completion. Applications close on the 12th of January 2024, and are reviewed on an ongoing basis, so early applications are encouraged. If you wish to find out more about the FUSION programme, visit: https://www.fusionconnectcapital.co.uk/

ENDS