The revenue generated by the global space industry may increase to more than $1 trillion by 2040 (Morgan Stanely 2019). Supporting one of the fastest-growing markets in Europe is the objective of European Commission, ESA and Austria.
Many of the technological innovations developed to explore space can be used in everyday applications, outside the space industry. ESA BIC Austria fosters new global businesses that leverage or integratetechnologies and expertise developed by ESA, the space industry and research and under European space programmes, to be used in non-space markets (e.g. logistics, agriculture, health). This approach gives back to the community the benefits of investing in space!