London, 8th August 2023 – Seraphim Space Accelerator, a first-of-its-kind investor-led SpaceTech accelerator, is delighted to announce that it has been awarded grant funding from the UK Space Agency as part of its recent International Bilateral Fund. This grant, designed to bolster the internationalisation efforts of the UK’s SpaceTech ecosystem, will support Seraphim’s expansion efforts into the Asia-Pacific (APAC) region.
The new accelerator represents a game-changing opportunity for Seraphim to make a profound impact on the APAC market, catalysing the indigenous Singapore space economy.
The accelerator has successfully supported 81 companies through its accelerator programme, representing an impressive 27 nations across the globe. These diverse startups have contributed significantly to the global space ecosystem and collectively raised a staggering $290 million in funding post-program completion, attesting to Seraphim’s unparalleled ability to nurture high-potential ventures and drive their success.
The APAC region presents an unprecedented market opportunity for space technologies, and Seraphim is witnessing a surge of interest from APAC-based companies eager to join its prestigious accelerator programmes. Notably, in the last two cohorts, 25% of the participating companies hailed from the APAC region, showcasing the growing appetite for space innovation in the area. Bringing the accelerator to the APAC region presents a significant and potentially lucrative opportunity for corporates looking to partner with cutting-edge technology companies in the space sector.
Rob Desborough, Managing Partner at Seraphim Space Said:
“We are thrilled to receive this backing from the UK Space Agency’s International Bilateral Fund. This funding will play a pivotal role in expanding Seraphim’s footprint in the Asia-Pacific region, facilitating valuable partnerships between the UK and APAC space industries.
Our APAC expansion is a testament to our commitment to empowering SpaceTech startups from the region and fostering cutting-edge innovation on a global scale, we look forward to providing enhanced support to these promising companies and guiding them towards transformative growth within the global space industry.”
Dr Paul Bate, Chief Executive of the UK Space Agency, said:
“Working with other space agencies and organisations across the globe through our International Bilateral Fund allows us to draw on skills that enhance our homegrown expertise and capabilities, drive up investment in the UK, and support world-class science and discovery.
Seraphim’s work with industry partners in Singapore to develop the Seraphim Space Accelerator Asia highlight the many ways in which we can collaborate with the global space community to push the boundaries of space innovation and unlock commercial opportunities that will benefit our economy now and in the future.”
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About Seraphim Space Accelerator:
Seraphim Space Accelerator is a leading SpaceTech accelerator that provides unparalleled investment and commercial support and resources to early-stage space startups. With a remarkable 86% of companies raising their next funding round within 12 months of program completion and a collective $290 million raised by alumni, Seraphim empowers entrepreneurs to thrive and create transformative innovations in the rapidly evolving space industry. To date, 81 companies from 27 nations have completed Seraphim’s accelerator program, contributing significantly to the global space ecosystem. For more information, visit [www.seraphim.vc].