The Regional Minister for Economy and Industry, María Jesús Lorenzana, accompanied by the director of Igape, Covadonga Toca, took part in the Investor Day organised by Business Factory Aero (BFAero) and XesGalicia, held at the Galician Economic Office in Madrid, where she emphasised that it is “crucial” to connect start-ups with investment firms, as this “ensures their financial viability and accelerates their growth in the market”.
During Investor Day, the regional minister explained that “we identify and support many innovative projects, but these projects need to establish themselves in the market and continue to grow. And we cannot achieve this through Igape or XesGalicia alone: we need private investment. It is therefore essential that we use our Economic Office as a showcase for everything that is being done in Galicia to attract that investment”.
At the event, 18 investment firms specialising in deep tech, space tech, artificial intelligence, cybersecurity, mobility, aerospace, defence and dual-use technologies gathered at the Galician Economic Office in Madrid with eleven technology projects from the 7th edition of BFAero and three established companies from the accelerator’s ecosystem, with the aim of exploring opportunities for investment, co-investment and scaling up in high value-added technologies.
Galicia, an attractive environment for specialised investment
Galicia continues to build an ecosystem capable of attracting talent, generating high-impact innovation and sparking the interest of specialist national and international investors, thereby transforming technological potential into real opportunities for economic growth and skilled employment.
BFAero, the Galician Regional Government’s aerospace accelerator, forms part of the Strategic Initiative on Security, Defence and Aerospace, a roadmap that aims to mobilise up to 900 million euros in investment by 2030, supported by public investment of 183 million euros aimed at strengthening the region’s industrial, technological and business capabilities in sectors considered strategic for technological autonomy and European competitiveness.
Since its launch in 2019, BFAero has supported the creation of 49 new businesses. More than 80 per cent of them are still active and growing. Together, these companies have created more than 310 skilled jobs and generated an annual turnover of more than 28 million euros.
In the last two rounds, BFAero companies have raised more than 14 million euros, with around 70 per cent coming from private equity, confirming the programme’s ability to transform strategic technologies into companies that are attractive to investors.
Several start-ups linked to the BFAero ecosystem have also gained international recognition by being selected for leading programmes such as DIANA, NATO’s innovation accelerator, or by attracting investment from strategic organisations such as the NATO Innovation Fund, thereby consolidating the global profile of the Galician aerospace ecosystem.
From technology to the market
BFAero’s methodology supports projects throughout the entire business development process, from technology validation to investment readiness, addressing key aspects such as the business model, market strategy, intellectual property, commercial validation, funding strategy and links with major industry leaders.
This initiative enables start-ups to connect with investors by showcasing their distinctive technologies, highly specialised teams and value propositions geared towards markets with significant growth potential, particularly in dual-use sectors with applications in the civil, industrial, security and defence sectors.
Investor Day thus reinforces BFAero’s role as a platform for generating investment opportunities in aerospace, security, defence and dual-use technologies, and as a bridge between technological innovation, industry and private capital.
The Business Factory Aero (BFAero), the aerospace accelerator backed by the Regional Ministry of Economy and Industry, has supported 49 business projects since 2019, 15 of which are start-ups. BFAero has demonstrated its ability to attract entrepreneurial talent from other regions, as some of these companies have relocated to Galicia from Catalonia, the Valencian Community, Madrid and Castile and León, as well as from other countries such as Norway, Uruguay and Portugal.
Overall, the companies have created more than 310 skilled jobs, generated a cumulative turnover of 28.6 million euros and made investments totalling 16 million euros. The economic impact generated by the companies in the accelerator programme reflects Galicia’s ability to transform innovative projects into business activity that has an impact across the whole region.
The impact of the accelerator programme was highlighted during the graduation ceremony for the sixth cohort and the launch of the seventh, which took place at the premises of Kreios Space, a company that has recently set up in the Porto do Molle industrial estate (Nigrán). The event was attended by the Regional Minister for Economy and Industry, María Jesús Lorenzana, who gained a first-hand insight into the Galician company’s projects.
An industrial footprint across Galicia
BFAero’s industrial footprint in Galicia extends across the entire region. Notable projects include Kreios Space and Lupeon in Nigrán; Aguia Analítica in Oleiros; Aeromedia and ITG Drone Solutions in A Coruña; Arzeos Aircraft in Silleda; Luxit in Ourense; and Vig-Sec Drone in Lugo.
Furthermore, the projects from the fifth and sixth editions have secured more than 14 million euros in public and private funding. It is worth noting that nearly 70 per cent of these funds come from private investment funds, a figure that demonstrates the market’s confidence in the technological capabilities and growth potential of the companies that have emerged from the programme.
A public-private partnership ecosystem
After six editions, BFAero has established itself as one of the key instruments for supporting technological entrepreneurship and the development of the aerospace industry in Spain. The programme collaborates with more than 55 organisations, including leading companies (such as Airbus, Avincis and Telespazio), technology centres, Galician universities and companies across the value chain.
The accelerator forms part of the 2025–2030 Strategic Initiative on Security, Defence and Aerospace, spearheaded by the Regional Ministry of Economy and Industry, which has a public budget of 183 million euros and an estimated capacity to mobilise around 900 million euros through public-private partnerships.
BFAero took part in the seventh interregional meeting of the European projectMAE (Moving Towards Aerospace) cas a benchmark for a vertical accelerator model. This is an Interreg Europe initiative in which ten regions from seven countries, including Galicia, are working together to build more competitive, innovative and connected aerospace ecosystems.
Europe is turning its attention to Galicia through an exchange programme that is attracting increasing interest and has three objectives:
The development of a robust aerospace ecosystem
Transforming talent and innovation into viable businesses
The design of a public incubation and acceleration programme with a real impact.
During the event, the team behind the aerospace accelerator – backed by the Galician Regional Government and run by the CEL Foundation – shared some key elements of its model. Representatives from the Netherlands, Norway, Italy, the Czech Republic, Romania, Serbia, Ukraine and Ireland expressed interest in the five elements underpinning the BFAero model:
Governance
Involvement of leading companies
Public-private partnership
Sector-specific expertise
The ability to generate economic and industrial impact in the region.
Now in its seventh year, BFAero has established itself as one of the key drivers of aerospace entrepreneurship in Spain. Its track record demonstrates the value of combining institutional support, strategic vision and industry connections to support technology start-ups as they grow and consolidate their position.
The results speak for themselves:
Creation of more than 275 skilled jobs
A total of €14 million raised by the supported projects
Establishment of a collaborative network comprising more than 55 organisations from the aerospace and technology sector.
Behind these results lies the sustained commitment of the Xunta de Galicia, which has driven the programme by integrating it into a long-term strategic vision known as the Strategic Initiative on Security, Defence and Aerospace 2025–2030 (Iesda), which has been allocated €183 million in public investment and is estimated to be capable of mobilising around €900 million through public-private partnerships.
BFAero plays an active role in this strategy, helping to strengthen Galicia’s aerospace ecosystem and promote the region internationally as a hub for innovation, industry and technology.
Business Factory Aero participated in Invertir en Ciencia SÍ es Rentable, a strategic meeting of scientists, investors and technology-based companies held in Santiago de Compostela, to showcase examples of accelerated companies that reinforce the slogan of this fourth national meeting, organised by UNIRISCO and Xesgalicia.
The companies Vig-Sec DroneandKreios Space participated in a round table discussion to share their experiences on the value of the Business Factory model as a lever for promoting entrepreneurship and science in the service of strategic sectors, moderated by IGAPE.
Along these lines, Noelia Gil, director of operations and co-founder of Vig Sec-Drone, explained the added value of ‘connecting with the Galician ecosystem because it opened many doors for us.’ She also acknowledged that ‘the experts we had access to helped us position ourselves in the market.’
For his part, Jan Mataró, CTO and founder of Kreios Space, explained how they decided to move the company from Catalonia to Galicia: ‘We needed a vacuum chamber to carry out some tests and, thanks to BFAero, we had the support of the Xunta de Galicia through IGAPE and we ended up getting the project off the ground.’ Having a favourable environment of public support, investors and a strong ecosystem encouraged the company to make the move. ‘Initially, eight of us moved, and now there are more than 25 of us.’
Alongside the start-ups, more than 50 speakers analysed investment in deep tech technologies as a driver of economic transformation and social impact, and the need for private capital to boost competitiveness, technological sovereignty and sustainable growth.
Patient investment
During this event, the role of public and private investors was also analysed, as well as the need for investment in science and technology-based companies to be approached as a patient investment.
Vig Sec-Drone and Kreios Space are examples of entrepreneurs with disruptive technology that has generated interest among public and private investors. At the end of 2025, Vig Sec-Drone closed a €1 million investment round to accelerate its growth and consolidate its technology. The round was led by Encomenda Capital Partners SGEIC and included the participation of Lugo Transforma, XesGalicia and Vigo Activo Sociedad de Capital Riesgo.
For its part, Kreios Space closed an €8 million seed investment round led by NATO Innovation Fund and Join Capital, making it the largest European funding round for VLEO technologies. The operation was also backed by other investors, including Xesgalicia, Grow Venture Partners, and Tasivia Global.
Slimop Space, a start-up promoted by Business Factory Aero (BFAero), received the National Industry Award “Bien hecho en España” in the Industrial Entrepreneurship category from His Majesty King Felipe VI during the 8th National Industry Congress, which is being held until 5 February in Bilbao.
The award recognises start-ups with a strong capacity for innovation in developing industrial projects with high added value that strengthen competitiveness, sustainability, digital transformation and the development of their own productive and technological capabilities.
The Regional Minister for Economy and Industry, María Jesús Lorenzana, congratulated the company on receiving the award and highlighted the importance of this recognition for Slimop Space, which is given to newly created companies for their innovative capacity. ‘One of the pillars,’ she said, ‘on which the advanced industrial policy is based, goes hand in hand with the company, the technology and the talent we have and want to attract to Galicia, consolidating us as a leading region in the acceleration of high-impact technological projects.’
This recognition represents significant endorsement of the company’s track record and reinforces BFAero’s role as a platform supporting technological and industrial entrepreneurship geared towards technological sovereignty. BFAero is now a strategic lever for business creation and acceleration within the framework of the Strategic Initiative for Security, Defence and Aerospace 2025-2030, promoted by the Regional Ministry of Economy and Industry, through Igape (Galician Institute for Economic Promotion) and Xesgalicia.
Slimop Space has been part of the Business Factory Aero ecosystem since its sixth edition, in which it participated in the Acceleration track. It has now been selected for the seventh edition of the programme in the Consolidation track.
The first edition of the National Industry Awards, organised by the Ministry of Industry and Tourism, recognise business initiatives that stand out for their contribution to strengthening Spanish industry, technological innovation, and the development of solutions with high economic and social impact, making excellence a hallmark of the industry.
BFAero, Spain’s best accelerator according to the Funcas ranking
Recognised for the second consecutive year as the best accelerator in Spain in the Funcas national ranking, the programme has had a strong economic and innovative impact in Galicia.
Since its launch in 2018, it has supported 58 projects, created 15 new technology companies, and promoted the relocation of 13 companies to Galicia and the creation of more than 270 skilled jobs. The projects in the 5th and 6th editions have attracted more than €14 million in investment.
SLIMOP Space will take its optical technology into space in 2027, consolidating its technological roadmap, its positioning in the sector and the growth of the start-up. SLIMOP joined the Business Factory Aero (BFAero) in 2025 during the sixth edition of the programme and has been selected for the seventh edition, within the Consolidation phase.
The company is dedicated to developing pioneering Orbital Telescopes for small satellites and nanosatellites, based on its own architecture of high-precision, low-weight optical mirrors. This innovative technology speeds up manufacturing processes, significantly reduces the weight and cost of optical systems, and facilitates their integration into scalable space platforms, with particular applications in Earth observation and space optical communications.
During 2025, SLIMOP Space has registered three technology patents, with a fourth in preparation, and has validated ultralight mirror subsystems in the laboratory at TRL5 level, a milestone that reinforces the maturity of its solution and its capacity for future demonstrations in orbit.
SLIMOP Space’s growth has been made possible thanks to the first round of pre-seed funding completed in 2025, in which the company brought in private investors specialising in the aerospace sector, who also contribute strategic management expertise. This private funding has been complemented by the support of various European, national and regional public bodies and programmes, including the European Space Agency (ESA), through the ESA BIC Barcelona programme, the Ministry of Industry and Tourism through ENISA, the Generalitat de Catalunya through ACCIÓ and the Startup Capital programme, as well as the Xunta de Galicia, with the support of GAIN, IGAPE and XesGalicia, in addition to the Business Factory Aero (BFAero) programme itself as an initiative to promote consolidated projects in the aerospace sector.
In total, more than €700,000 in capital resources have driven this first phase of R&D since the company was founded three years ago. SLIMOP Space is currently immersed in the preparation and closing of a new seed round that will enable it to consolidate its strategic plan for the period 2026-2028 and consolidate the technical specifications necessary for its leap into space.
BFAero: driving aerospace innovation
SLIMOP Space is embarking on this new phase with the aim of positioning itself as a benchmark in advanced optical solutions for space platforms, contributing to the development of efficient and competitive constellations in global markets. Its participation in BFAero and the solid institutional support it has received highlight not only the quality of the project, but also the role of the accelerator as key platform for promoting technology start-ups in strategic sectors with high technological demands.
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