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.
This specialised training programme, aimed at professionals, managers and companies seeking to strengthen their capabilities in the field of security and defence, forms part of the regional government’s commitment to establishing Galicia as a region with competitive industrial and technological capabilities in this strategic sector.
Specialised training for a growing sector
The programme, which began on 17 April in a blended learning format and runs for a total of 128 hours, offers participants a comprehensive overview of the defence industry ecosystem, covering aspects such as financing, programme management, innovation and business opportunities within the sector.
The involvement of projects from the BFAero ecosystem in this initiative is enabling their teams to gain a deeper understanding of how the sector operates, learn about new management tools and analyse existing opportunities within a highly technological and regulated environment.
Training and strategic vision
The participation of Drone Silencer, Kreios Space and Binarial in this programme reflects the BFAero ecosystem’s commitment to continuous training, specialisation and the development of strategic capabilities in fields linked to the aerospace, technology and defence sectors.
In addition to the knowledge gained during the sessions, this experience is fostering the exchange of knowledge and networking with professionals, institutions and companies in the sector, broadening the strategic vision of the participating projects and creating new opportunities for collaboration.
BFAero and fostering innovative talent
BFAero remains committed to integrating high-value-added training initiatives into its projects, with a view to fostering business growth, technological specialisation and links with emerging and strategic sectors.
The participation of startups from the ecosystem in programmes such as the one promoted by the Xunta de Galicia and the EOI reinforces Galicia’s position as a leading hub for aerospace and technological innovation, as well as BFAero’s commitment to fostering talent and business competitiveness.
With this figure, BFAero has achieved its goal of expanding its reach beyond the national sphere, strengthening its position as a European benchmark in aeronautical and aerospace entrepreneurship.
Origin of the Projects
International projects: Seven come from European Union countries (including Italy, Norway, Denmark, Lithuania, and Bulgaria), while the rest come from Argentina, Malaysia, Turkey, India, and Switzerland.
National projects: The call also sparked significant interest, with 78 Spanish proposals, 61% of which came from regions such as Catalonia (12), Madrid (11), Andalusia (9), the Basque Country (3), and the Canary Islands (2). Galician projects account for 39% of the total, with 30 applications.
Main Thematic Areas
The submitted initiatives fall into four thematic areas:
Development of unmanned vehicle applications for specific markets, such as emergency and civil protection services or industrial infrastructure inspection (56%).
Technologies applied to the satellite sector (20%).
Creation of platforms and their components, including structures, energy, propulsion, systems, navigation, and piloting (15%).
Projects involving onboard or ground-based equipment and systems (10%).
BFAero Itineraries
The program includes three tracks, tailored to each project’s maturity level:
Incubation phase (early stage): 40% of the projects registered.
Acceleration phase (projects with a developed Minimum Viable Product (MVP) and first sales): 45% of the projects.
Consolidation phase (for companies with defined products or services and actual sales, looking to scale): 15% of the entries.
Spain’s Best Accelerator
Recognized for the second consecutive year as the best accelerator in Spain by the national FUNCAS ranking, BFAero has become a strategic driver of business creation and acceleration within the Strategic Initiative in Security, Defense, and Aerospace 2025–2030, promoted by the Regional Ministry of Economy and Industry.
The program has had a strong economic and industrial impact in Galicia. Since its launch in 2018, it has supported 58 projects, created 15 new technology companies, facilitated the relocation of 13 firms to Galicia, and generated over 270 skilled jobs. Projects from the 5th and 6th editions have attracted more than €14 million in investment.
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