The startup Kreios Space has been awarded at the EmprendeXXI Awards as the one with the greatest impact in Galicia. Based in Lugo and with facilities in Vigo, this company dedicated to the aerospace sector participated in the fifth edition of the Business Factory Aero (BFAero) programme, an initiative that is part of the Xunta de Galicia’s accelerator network.

Kreios Space develops sustainable electric propulsion systems for satellites. Its innovative technology, ABEP (Air-Breathing Electric Propulsion), makes it possible to reduce the current orbits in which satellites operate, reducing the cost of missions and the generation of special waste, while increasing the lifetime of this type of vehicle.

Recognition for innovation

The EmprendeXXI Awards highlight the entrepreneurial spirit of the startups that generate the greatest impact in their territory and offer the best solutions to the challenges of the future. Promoted by the Ministry of Industry and Tourism, through Enisa, and CaixaBank, through DayOne, its division specialising in technology companies and their investors, in Galicia they are supported by the Igape.

Kreios Space has been distinguished against 31 other nominations that have been presented in the latest edition of the awards in Galicia. The startup receives a cash prize of 6,000 euros, access to a Moonshot Thinking training programme in collaboration with ESADE and will also travel to Berlin to complete the international accompaniment in an initiative organised with ICEX.

In addition, Kreios Spacie will be able to participate in the Investors Day EmprendeXXI, during which it will be able to maintain contact with the investor ecosystem and companies interested in collaborating with entrepreneurship.

On the other hand, the company will be part of the AlumniXXI community, which has established itself as a meeting point for the exchange of knowledge, ideas and experiences between the founders of the awarded companies throughout the history of the EmprendeXXI Awards. It is an initiative that combines a virtual community and face-to-face meetings that helps to strengthen ties and create synergies between the award winners and the entrepreneurial and innovation ecosystem.

A dynamic innovation ecosystem

Kreios Space, which moved to Galicia after the fifth edition of BFAero, was supported by a team of mentors and experts in the aeronautical, aerospace and unmanned vehicles sector, and gained access to early adopters and customers and to public and private investment entities.

In the last five editions, Galicia has been able to consolidate a dynamic and robust innovation ecosystem with the participation of more than 55 entities that cooperate with the aim of responding to the needs of entrepreneurs in the aerospace and aeronautics industry, weaving a network of collaboration for the promotion and scaling of disruptive technologies that solve the challenges of companies and society.

The industrial footprint generated by the BFAero is reflected in three areas. Along with the creation of new companies, 46 in total since 2018, the programme has driven the consolidation of a benchmark operator in the sector, as is the case of Aeromedia, and has also led to the transfer to Galicia of the headquarters of startups such as Kreios Space and FuVex.

The Business Factory Aero has consolidated itself nationally and internationally as an acceleration and consolidation programme for the aeronautical, aerospace and unmanned vehicles sector by attracting 110 projects in the sixth call. 57% of the proposals registered, whose period has just ended, correspond to entrepreneurs and companies with national and international origin, including countries such as the Netherlands and Great Britain. 43% of those registered are entrepreneurs based in Galicia.

Of the more than 110 projects registered, 48% belong to the Incubation itinerary, which for 12 months will support unincorporated or recently created companies with an idea and the development of a minimum viable product (MVP). 37% of the registered proposals are Acceleration, where for 8 months, they will receive mentoring and support to systematise their business model, develop and validate their product or service, achieve recurring sales and penetrate new markets. Finally, in the Consolidation phase, 15% of the proposals submitted were registered, and for 6 months they will receive support to scale and internationalise their company.

The Business Factory Aero, a programme of incubation, acceleration and consolidation of companies in the aerospace sector of the Xunta de Galicia, supported over its five previous editions a total of 46 business projects, which mobilized an investment of about 7.8 million euros and recorded a combined turnover of 9.2 million in 2023.

Funding up to 280.000 euros

In the Incubation phase, startups will have access to funding of up to 40,000 euros through the Galician Institute for Economic Promotion (Igape) on a non-repayable basis. Acceleration projects will have Igape funding of up to 60,000 euros non-refundable and the possibility of an equity participation through an equity loan of up to 50,000 euros, with the option of capitalisation through Xesgalicia, the investment vehicle of the Xunta de Galicia.

Companies in the consolidation phase will be able to access up to 30,000 euros through the Igape on a non-repayable basis. In the event that the company so requests, and within the framework of a financing round, a direct participation in the company’s capital of up to 250,000 euros may be valued.

A dynamic innovation ecosystem

BFAero projects will have a team of mentors and experts in the aeronautics, aerospace and unmanned vehicles sectors, as well as early adopters and customers, and the possibility of access to public and private investment entities.

In the last five editions, Galicia has been able to consolidate a dynamic and robust innovation ecosystem with the participation of more than 55 entities that cooperate with the aim of responding to the needs of entrepreneurs in the aerospace and aeronautics industry, weaving a network of collaboration for the promotion and scaling of disruptive technologies that solve the challenges of companies and society.

The industrial footprint generated by the BFAero translates into three areas. Along with the creation of new companies, 46 in total since 2018, the programme has driven the consolidation of a benchmark operator in the sector, as is the case of Aeromedia, and has also led to the transfer to Galicia of the headquarters of startups such as Kreios Space and FuVex.

The Director General for Industrial Strategy and Business Land, Margarita Ardao, highlighted today in Silleda the competitiveness of Galician companies in accessing the market for dual technologies for civil and defence use.

During her visit to the exhibition space of the Galician Aerospace Pole at the International Security, Defence and Emergencies Fair (SEDEXPO), which is being held at the Galician Exhibition Centre, Ardao pointed out that the Galician business fabric has demonstrated its capabilities in the aeronautical, aerospace, security and emergency sectors. In this sense, he insisted that the experience in the development of these technologies places it in a privileged position to increase its competitiveness by developing dual-use technologies.

From 26th to 28th March, Silleda hosted the third edition of SEDEXPO, a meeting point for companies, professionals, public bodies and institutions to learn about the opportunities in this industry, exchange experiences, generate business and find out about the latest developments in the sector.

Aerospace, aeronautics and unmanned vehicles were the protagonists of this edition, in which the Galician Aerospace Pole had its own stand with the participation of companies and technology and knowledge centres such as  Aertec, Airbus, Avincis, Tecnobit, Telespazio Ibérica, Cuatro Digital, UARX Space, Kreios Space, Arzeos Aircraft, Aguia Analítica Avanzada, Beagle Technology, Ventilatio Lab, H2Dron Energy and Net2Fly.

In addition, a monographic conference was held on the Aerospace Pole of Galicia, which addressed topics such as the role of the Rozas Airborne Research Centre (CIAR) as a strategic centre for defence and technological innovation; intelligent services on air mobility; the present and future of drones; rapid mapping for emergency management; digitalisation in the fight against forest fires; the brain behind the drones; and the application of mathematics to the service of firefighting. The Business Factory Aero, Xunta de Galicia’s incubation, acceleration and consolidation programme for start-ups in the aerospace sector, also had its own space in the SEDEXPO conference programme.

Business Factory Aero – BFAero

The Business Factory Aero – BFAero is an initiative of the Xunta de Galicia that provides infrastructure, funding and expert support to provide personalised support to aerospace, aeronautics and unmanned vehicles projects. BFAero’s work has enabled the creation of a dynamic and fruitful innovation ecosystem, making it the best accelerator in the Funcas 2024 global ranking.

The Business Factory Aero (BFAero), the leading accelerator in the aerospace, aeronautics and unmanned vehicles (UAVs) industry, has opened the call for its 6th edition with a commitment to focus all the programme’s resources on internationalisation. Promoted by the Xunta de Galicia, this new edition opens its doors to entrepreneurs and startups from all over the world, offering them the opportunity to develop their projects in a unique acceleration ecosystem. In addition, BFAero reinforces its support for the international expansion of participating companies, facilitating their entry into global markets and creating new business opportunities in the sector.

Differential aspects of BFAero

The 6th edition of BFAero is distinguished by a number of key aspects that make it a unique accelerator within the aeronautics and aerospace sector. Its specialised approach, the resources available and its connection with the global market differentiate it from other similar initiatives, offering entrepreneurs an ideal environment for the development and consolidation of their projects.

Among the most differential aspects we find:

1. Aeronautical and aerospace vertical offering an adapted environment with mentors, resources and synergies between projects.

2. Market focus, the projects are oriented towards solving real problems in the sector, which allows them to find a commercial outlet.

3. Wide range of advanced means and resources, which facilitate the agile development of technological solutions.

4. Support from an open innovation ecosystem. Collaboration with public and private agents in the aerospace sector and unmanned vehicles favours synergies between projects and institutions.

5. Support for the complete cycle of entrepreneurial projects. BFAero offers three types of support (incubation, acceleration and consolidation), covering all stages of entrepreneurship, from ideation to business consolidation.

6. International scope. It receives projects from all over the world and supports their internationalisation, helping them to access global markets.

7. Investment attraction. Promotes the approach of projects to public and private investment entities, which can provide them with additional development capacities, as well as access to partnerships and new markets.

What does the 6th Edition offer?

In the last two editions, BFAero has focused its efforts on offering projects a set of expert mentors in areas such as aeronautics, UAV regulations, intellectual property, business management or marketing, and on increasing the number of sessions for the benefit of the projects, reaching more than 157 in the fifth edition of the programme

The 6th edition of BFAero comes with a renewed proposal to transform startups into innovative, viable and scalable companies within the aeronautical and aerospace sector. The accelerator offers participants a unique ecosystem with specialised training, expert advice, networking, access to investors and two workspaces in the Pazo de Feiras de Lugo, near the Rozas aerodrome and the Centro de Investigación Aeroportada de Rozas (CIAR). In addition, it provides financial support through grants, equity loans and possible equity investments, thus ensuring the sustainable growth of the projects.

The programme will also provide personalised advice tailored to each project through technical and management mentoring, collaborations in the sector and visibility and dissemination in the media and social networks, as well as through the different events and events organised within the framework of the programme.

An accelerator with global impact

With almost 50 success stories and a track record of national and international recognition for accelerated projects, the Business Factory Aero has established itself as the ideal platform to promote a project in the sector. Since its launch in 2018, it has generated a global impact, accelerating 46 startups and consolidating a dynamic ecosystem that has crossed borders. Companies such as FuVeX, which participated in the 4th edition, have achieved significant milestones, such as the signing of the largest civil drone contract in Spain with Naturgy. In addition, the programme has contributed to the expansion of the sector in Galicia, consolidating Aeromedia as a benchmark operator and attracting start-ups such as Kreios Space and FuVex.

BFAero has been recognised as the best accelerator in Spain in the Funcas–Universidad Rey Juan Carlos 2024-2025 Ranking, consolidating its position as a benchmark in the promotion of startups in the aerospace sector.

The Galician aeronautical ecosystem, made up of more than 55 entities, has become a benchmark for the development and scaling of disruptive technologies in the aerospace industry. Thanks to this collaborative network, the entrepreneurs have gained access to 31 potential customers or ‘early adopters’ and 7 potential investors, strengthening the role of BFAero as an accelerator with global impact.

Key dates and phases of the programme

The 6th edition of BFAero follows a timetable structured in different key phases, starting with the call for applications and the registration process, which will be open until 20 March 2025 at 15:00 (UTC+1). Only applications submitted according to the rules, by the deadline and through the appropriate channel, and which have fully completed the questionnaire will be considered. After the closing date for applications, the selection phase will begin, in which the applications will be evaluated and the projects that will enter the programme will be selected.

Those selected will move on to the entry phase, in which they will have 1 month to provide the required documentation, sign the necessary agreements and complete other formalities related to their entry into BFAero. Once their access has been formalised, the incubation, acceleration and consolidation phases will begin according to the schedule established in the Framework Agreement.

FuVeX  signed the largest civil drone contract in Spain with the Naturgy group, consolidating its leadership in the inspection of electrical infrastructures. FuVeX was one of the companies participating in the fourth edition of the Business Factory Aero (BFAero), an initiative that is part of the Xunta de Galicia’s network of accelerators. 

This agreement will allow FuVeX to monitor UFD’s nearly 40,000 kilometres of overhead High and Medium Voltage lines in Spain until 2026, with an option to extend until 2028, using long-range drones equipped with visual, thermal and LiDAR sensors to create a digital twin of the grid.

FuVeX’s technology represents a disruptive innovation in the management of inspection and maintenance of electricity infrastructure. The long-range drones developed by this scale-up bring improvements in operational efficiency, as each drone is capable of covering 50 kilometres of power line per day, five times more than conventional drones. The company is already working towards a target of 200 km per day.  

The use of drones offers two further advantages: the reduction of CO2 emissions in each flight, minimising environmental impact, and increased safety in the inspection of infrastructures, as it reduces risk situations in complex environments.

Boosting BFAero 

FuVeX stood out during its passage through the consolidation itinerary of the 4th edition of BFAero, where it had the support of all the resources of this accelerator and a solid aeronautical and aerospace ecosystem.

Its participation in BFAero was an important step for the development and consolidation of FuVeX in the aerospace market, as Carlos Matilla, CEO of FuVeX, emphasised, ‘our participation in BFAero helped us to optimise the development model and focus on what is truly differential in our areas of specialisation. On the other hand, it gave us the opportunity to prepare ourselves for the growth of the company, through the management of large accounts’.

The work of BFAero over 5 editions has allowed the consolidation of a panel of high-value experts and mentors and the creation of a dynamic and fruitful innovation ecosystem that drives and consolidates projects such as FuVex.

The Galician aeronautical ecosystem offers more than 55 entities that cooperate with the aim of responding to the needs of entrepreneurs in the aerospace, aeronautics and unmanned vehicles industry, weaving a network of collaboration for the promotion and scaling of disruptive technologies that solve the challenges of companies and society.

The collaboration of the entire ecosystem has given the entrepreneurs access to 31 potential customers or ‘early adopters’ and 7 potential investors.