Enterprise Ireland, a state-owned organisation that helps to develop Irish business globally, has signed an agreement with the European Space Agency (ESA) to build a Space Business Incubation Centre in the country.
The deal was signed during the Enterprise Ireland Trade and Investment Mission to the Netherlands and Germany, where Enterprise Ireland’s client companies including Arralis, Curtis Wright, Enbio, Radisens Diagnostics and Treemetrics participated.
The centre will support 25 start-ups working in space technologies for the next five years.
ESA is currently working with more than 45 Irish companies to help develop innovative technologies for space systems and build space related services and applications.
Enterprise Ireland CEO Julie Sinnamon said: "This agreement will foster increased innovation and business development opportunities within the space industry and research sectors in Ireland and Europe.
"It will also support Enterprise Ireland client companies who are developing new and innovative technologies for the European Space programme and the global space market, in areas such as advanced materials, microelectronis, avionics and space related services, which will create new opportunities and more jobs in this rapidly growing sector."
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By GlobalDataIn 2015, Enterprise Ireland assisted start-ups to employ 10,000 extra people, bringing the total number of jobs created by the agency’s client companies to 21,118 during the year, reports the Irish Examiner.
The agency’s client companies employs more than 192,000 people. Most of them are employed in Dublin.
The government of Ireland is investing in the ESA to support the country’s space industry that generated annual revenues of €76 last year.
The government investment helped to create 600 high value technology jobs in the Irish industry, and the number is expected to double by 2020.
