Prague space incubator opens doors to Czech firms

• participants will receive consulting and advisory services and support in the value of up to EUR 50,000
• interested parties must submit an accompanying letter, business plan and incubation plan, all in English
• CzechInvest will provided advice on how to write the application

On Monday, 15 August 2016, CzechInvest opened the first call for submission of applications for participation in the ESA Business Incubation Centre in Prague. The agency will accept applications until 30 October 2016. Interested parties shall express their interest in participant in the Prague incubator of the European Space Agency by submitting an accompanying letter, business plan and incubation plan. The selected participants will then be able to seek out uses for space technologies in everyday life at the Prague Startup Centre at Palác Adria.

“We are curious about the ideas that Czech start-ups will surely come up with,” says Marek Aldorf, manager of the ESA BIC Prague project. “They will receive from us professional guidance and consulting, as well as access to an international network of partners, and they will be able to obtain financial support in the amount of up to EUR 50,000.”

Prague became a part of the network of business incubators of the European Space Agency (ESA) in May. Together with the ESA, the city of Prague of is financing the ESA BIC Prague, which is the first space incubator in Central and Eastern Europe. Each of the parties has contributed CZK 22.3 million. CzechInvest is the operator of the programme and, together with the Ministry of Industry and Trade of the Czech Republic, will provide to the incubated firms a package of consulting and advisory service in the areas of technology and business, marketing support and assistance with seeking out partners and potential investors.

Up to 25 firms will be able to participate in the ESA BIC Prague over the course of five years. The current call is continuous and will have up to four closing dates in the coming year. The incubator is also being supported by Komerční banka, which will provide favourable loan financing to the participants, which can obtain from the bank preferential loans in the amount of up to EUR 100,000 (approx. CZK 2.7 million) with a ten-year repayment period.

CzechInvest will gladly advise those interested in participating in the ESA BIC Prague with respect to composing their applications. The agency will hold a workshop for potential applicants at its headquarters on Štěpánská ulice in Prague on Wednesday, 17 August 2016. Interested parties can register for the workshop and get more information and details on the possibility of drawing aid on the website at www.esa-bic.cz and at facebook.com/ESABICPrague.