Guildford-based Clutch Space Systems is a winner in the first International Space Pitch Day innovation competition
The company, which offers innovative solutions for the satellite technology and space communications sector, received a £300,000 Enterprise M3 Expansion Loan earlier this year.
It is now one of just 10 tech start-ups and innovative companies from across the world to successfully secure same-day contracts worth up to £53,000 to fast-track the development of their innovations after pitching direct to UK, US and NATO military leaders.
Air Vice-Marshal Harvey Smyth, UK Director Space, unveiled the winners following an afternoon of pitches in front of a global audience during the first day of the Defence Space Conference hosted from London. t is the first time two nations anywhere in the world have come together to award defence contracts based around a pitch-style event, similar to Dragon’s Den. It is also the first time two nations have awarded joint defence innovation contracts to an overseas-based enterprise in this way.
Air Vice-Marshal Smyth said:
Congratulations to the winners and all those that took part in the first International Space Pitch Day – it has captured the imagination of innovators and militaries not just across the UK and US, but all over the world.
It has achieved several world firsts and we look forward to building on its success as we seek to fast-track innovation and cutting-edge technology to the front line quicker than ever before with fresh ways of working with industry to make sure we stay ahead of our shared adversaries and the threats they pose.
The competition was open to innovators and entrepreneurs from all over the world delivered through the UK Defence and Security Accelerator, assisted by Starburst Accelerator.
It is specifically designed to bolster tech start-ups and small and medium-sized enterprises (SMEs) and harness the power of their ingenuity and innovation.
The Enterprise M3 Expansion Loan Scheme is part of the Enterprise M3 Funding Escalator, a £10million initiative funded by Enterprise M3 LEP. The escalator, which also includes a short-term trade loan scheme and an equity growth fund, provides eligible companies with loans and equity funding between £50,000 and £300,000 for activities that will deliver high-growth and employment opportunities across the Enterprise M3 area.
Surrey Technology Centre
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