Rimah Harb’s Post

Exciting news from the Kingdom: the Saudi Fund has launched a new group dedicated to boosting the space industry! This strategic move aims to position Saudi Arabia as a key player in the global space sector, fostering innovation, and driving technological advancements. By investing in space research and development, the Kingdom is not only diversifying its economy but also opening up new frontiers for exploration and growth. This initiative reflects Saudi Arabia's commitment to enhancing its capabilities in cutting-edge industries and creating new opportunities for collaboration and development. The establishment of this new group underscores the Kingdom's vision to be at the forefront of technological innovation and space exploration. It’s an inspiring step towards a future where space technology plays a pivotal role in shaping our world. Looking forward to seeing the groundbreaking achievements and collaborations that will emerge from this ambitious initiative! #SaudiArabia #SpaceIndustry #Innovation #Technology #FutureGrowth #SaudiFund #SpaceExploration #EconomicDiversification #GlobalTech #Vision2030 #NewHorizons

The Public Investment Fund (PIF) has announced the establishment of the Neo Space Group (NSG), a wholly owned PIF company that will become a national champion in the satellite and space sector. NSG will enhance the space and satellite sector by developing local capabilities and boosting its strategic position within the growing global space economy. The group aims to develop and enhance commercial space operations in Saudi Arabia, providing innovative satellite and space solutions locally and globally. It will invest in local and international assets and capabilities, as well as promising venture capital opportunities, to catalyze the advancement and localization of sector-specific expertise. Omar Al-Madhi, Co-head of MENA Direct Investments at PIF, said: “The establishment of NSG marks an important milestone in the development of the growing satellite and space sector in Saudi Arabia and the ambition to be a leading commercial player in the global satellite sector. It is a unique milestone for PIF as it is PIF’s first investment focused on the space industry, which represents a series of new opportunities for the Saudi economy and private sector. It will also drive economic expansion in Saudi Arabia within several related strategic sectors while advancing the localization of vital industries.” Find out more ▶ https://lnkd.in/dVkE8kJe #pif #investments #saudiarabia #globalsatellite #spaceindustry #saudieconomy #ksa #saudiprojects

"- NSG will become the national champion for the satellite and space sector, supporting commercial satellite space operations locally and internationally - The group will invest in localization, technology, start-ups, and knowledge in the space and satellite sector in Saudi Arabia - The development of the aerospace sector is in line with PIF's strategy to unlock the potential of promising sectors in Saudi Arabia PIF today announced the establishment of the Neo Space Group (NSG), a wholly owned PIF company that will become a national champion in the satellite and space sector. NSG will enhance the space and satellite sector by developing local capabilities and boosting its strategic position within the growing global space economy.   The group aims to develop and enhance commercial space operations in Saudi Arabia, providing innovative satellite and space solutions locally and globally. It will invest in local and international assets and capabilities, as well as promising venture capital opportunities, to catalyze the advancement and localization of sector-specific expertise.     NSG will contribute to the development and deployment of the latest cutting-edge technologies in the space industry through its four dedicated business segments: satellite communications, earth observation and remote sensing, satellite navigation and Internet of Things, as well as a satellite and space-focused venture capital fund.     “The establishment of NSG marks an important milestone in the development of the growing satellite and space sector in Saudi Arabia and the ambition to be a leading commercial player in the global satellite sector. It is a unique milestone for PIF as it is PIF’s first investment focused on the space industry, which represents a series of new opportunities for the Saudi economy and private sector. It will also drive economic expansion in Saudi Arabia within several related strategic sectors while advancing the localization of vital industries.” Omar Al-Madhi, Co-head of MENA Direct Investments at PIF     The development of the aerospace sector is in line with PIF’s strategy to unlock the potential of promising sectors in Saudi Arabia and support the diversification of the Saudi economy, the growth of non-oil revenues and the realization of Saudi Vision 2030." press release

An increasing number of startups are unable to progress to subsequent funding rounds despite the overall growth in space sector investment. Pointing to a potential challenge in the scalability and sustainability of these startups, the question arises for both the public and private sectors: which entity or asset class can fill in these developing funding gaps? Read our latest report below or shortcut directly to the Executive Summary: https://lnkd.in/dxnCccwa or get curated insight on the most important Facts & Figures: https://lnkd.in/dDHJyXSJ Thank you team and contributors! João Falcão Serra, Sophia Djounov, Matija Rencelj, Sinéad O'Sullivan, Markus Fritz, Yui Nakama, Blaine Curcio

RIYADH: Saudi Arabia’s bid to become a leading player in the global space industry gained momentum with the recent unveiling of Neo Space Group, a strategic initiative to foster private sector growth.  Backed by the Public Investment Fund, the group will invest in local and international assets, venture capital opportunities, and cutting-edge technologies to advance the sector, aligning with Saudi Vision 2030’s economic diversification goals. 

📢 I'm excited to share our latest report: "Bridging the Financing Gap in the European Space Sector". 📊 This report tackles the critical challenge of funding in the space industry, highlighting the scarcity of capital for emerging companies and the need for innovative financing strategies. By exploring alternative funding pathways, we aim to catalyze growth and ensure the sustainability of Europe's space sector. Dive into the executive summary, Facts&Figures or the Full Report, to uncover our findings and recommendations! #SpaceFinance #Innovation #EuropeanSpaceSector #alternativefinance #venturecapital #privateequity ➡ [https://shorturl.at/hsHP9] A special thank you to all contributors Jermaine Gutierrez, Sophia Djounov, Matija Rencelj, Sinéad O'Sullivan, Markus Fritz, Yui Nakama, Blaine Curcio. As well as European Space Agency - ESA Commercialisation Department, in particular, Jules Varma, Gianluigi Baldesi, Luca del Monte and Myriam Bouzerma.

(NEW POST) M&A in the space industry has always remained unaffected by global macroeconomic factors and downturns. On the contrary, unrest like the Russian-Ukraine war has triggered more economic activity in the aerospace and defense sectors. The last few years have noted massive capital infusion into this sphere. In 2021 alone, both public and private investors directed $10B worth of funding. The geopolitical unrest spurred spending on worldwide military capabilities worth US$2.2 trillion in 2022. This spending has sparked Europe’s highest rise in defense expenditure in the last three decades. Interestingly, the investment is more in innovation, thanks to the new and dynamic market sentiment throughout the space landscape. #entrepreneurs #entrepreneurship #entrepreneur #business #success #venture #venturecapital #investment #invest #investors #tech #technology #innovation #leanstartup #leanstartups #inspiration #startup #startups https://lnkd.in/eQ5bH2Vw

Japan launches $6bn-plus space fund to bolster private ventures Japan has launched a 1 trillion yen ($6.43 billion) fund for private space development, planning to subsidize as much as 100% of R&D costs by startups and universities in order to bolster domestic technological innovation in the field.　(...) The fund is being established at the Japan Aerospace Exploration Agency (JAXA) in collaboration with the Cabinet Office and various ministries. Funding of around 1 trillion yen will be provided to companies and universities over 10 years. #Japan🇯🇵🇪🇺 European Innovation Council and SMEs Executive Agency (EISMEA) EU Trade EU-Japan Centre for Industrial Cooperation #public #procurement https://lnkd.in/eDjedrfc

Satellite Revolution: CapSek and Carlson Invest bet on Arctic Space 🛰️ We are proud and excited to finally share the exciting news that Northern CapSek Ventures is investing in Arctic Space, while Carlson Invest is also increasing its ownership through a follow-up investment. 🎉 This marks yet another milestone for CapSek, making its second investment in the Northern region of Sweden this year. It reflects the era of growth and innovation unfolding in satellite communication. These investments will enable Arctic Space to continue its journey towards becoming a leading player in satellite communication and data management. The company currently offers ground station services for satellite communication (Groundstation-as-a-Service) to a range of international clients, including names like Viasat, Airbus Defence and Space, and Eutelsat OneWeb. With its unique position near the North Pole, the company enjoys a strategic advantage, and we are confident that Arctic Space has the potential to revolutionize how satellite data is handled and utilized. As part of this investment, CapSek will own 2 percent and Carlson Invest 10 percent of the shares in Arctic Space, and we will also take seats on the company's board. This gives us the opportunity to actively contribute to Arctic Space's future success and development. 2024 is an exciting year for Arctic Space, with the launch of new services and continued international expansion. They are ready to tackle the challenges and opportunities ahead, and they look forward with confidence to making an even greater impact in the satellite industry. 🚀 Thanx Sandra Nilsson, Felix Hessinger, Benjamin Fischer and Fredrik Schäder #space #spacetech #startup #scaleup #investment #satellite

As per news reports, the draft of India's first comprehensive legislation for regulating 'space' sector has been prepared by the Department of Space and could be released for stakeholder consultations by coming March. This is an interesting development since such a legislation would give fillip to foreign investment in this sector and provide much needed regulatory clarity. Few points to be noted in this context: -the Union Cabinet has approved setting up of a Rs. 1000 crore VC fund dedicated to space sector - the Government is aiming to scale up the space economy to USD 44 billion by 2033 - last year, around 100 start ups got registered with the ISRO - around the said period, space tech start ups have raised approx. $ 233 million in funds #spacelaw #foreigninvestment #startup