Commission announces €1bn space fund and space-based connectivity infrastructure

Article summary

European Commissioner for Space Thierry Breton has announced a €1bn CASSINI Space investment fund for space start-ups and an upcoming legislative proposal will be announced in the coming weeks. The space investment fund will allow EU-based start-ups to receive equity investment in the EU without needing to turn to foreign investors. The space-based connectivity infrastructure will have four pillars: providing high-speed internet access for all EU citizens, ensure redundancy with terrestrial infrastructures, create secure infrastructure thanks to quantum encryption, and reduce European dependency on non-EU commercial initiatives. It will also be able to provide Africa with necessary connectivity, part of the Global Gateway initiative announced in December 2021.