Business Factory Aero (BFAero), the business incubator and accelerator promoted by the Galician Regional Government (Xunta de Galicia) through the Galician Institute for Economic Promotion (IGAPE) and XesGalicia, is launching its 8th edition with the aim of supporting projects that provide an innovative response to the current challenges facing this industry.
Its specialised focus on the aeronautical, aerospace and unmanned vehicle sectors, and its links with industry, set BFAero apart from other initiatives, providing a competitive environment for project development.
Since its launch in 2019, it has supported 49 new projects, more than 80 per cent of which remain active and are continuing to grow. These companies have created more than 320 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.
From technology to the market
The eighth edition of BFAero provides participating projects with expert mentors in areas such as aeronautics, UAV regulations, intellectual property, business management and marketing, with the aim of transforming start-ups into innovative, viable and scalable companies within the aeronautical and aerospace sector.
The accelerator connects projects with a unique ecosystem linked to leading companies such as Airbus, Telespazio and Avincis , and more than 55 organisations – including technology centres, universities and companies in the sector – with which it promotes proactive business networking. It also provides workspaces at the Pazo de Feiras in Lugo, near Rozas Aerodrome and the Rozas Aerial Research Centre (CIAR).
Up to €250,000 in funding
The programme offers three tracks, tailored to the maturity level of each project. Incubation, for the early stage, where the value proposition has not yet been validated, lasting up to 12 months. Acceleration, aimed at projects with a developed Minimum Viable Product (MVP) that are making their first sales, lasting 8 months. And Consolidation, a programme designed for companies with a defined product or service and actual sales, seeking to scale up their business, lasting up to 6 months.
During the Incubation phase, start-ups will have access to non-repayable funding of up to 40,000 euros through the Galician Institute for Economic Promotion (Igape). Projects in the Acceleration phase will receive non-repayable funding from Igape of up to 60,000 euros and the possibility of an equity stake through a participatory loan of up to 50,000 euros, with the option to capitalise this 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 Igape in the form of a non-repayable grant. Should the company so request, and as part of a funding round, a direct equity investment of up to 250,000 euros may be considered.