Xunta de Galicia's Business Factory Aero accelerator launches its fifth edition to attract new high-impact projects in the aerospace industry

The Business Factory Aero (BFAero), a program of incubation, acceleration and consolidation of companies specialized in the aerospace sector and in the segment of UAVs of the Xunta de Galicia, officially opens today the registration period for its fifth edition. The regional administration thus reinforces its commitment to the retention and attraction of innovative talent in the search for high-impact proposals for the aerospace ecosystem and for society.

Until July 19 at 14:00 hours, entrepreneurs, startups and companies with an innovative idea focused on the aerospace sector and UAVs can submit their application through the website www.bfaero.eu, where they can also consult the rules of the call.

The fifth edition of the BFAero, in which 11 projects will be supported, is aimed at entrepreneurship proposals in the aerospace sector that will benefit from a complete support program that includes mentoring by companies and professionals in the sector, highlighting the involvement of the companies Airbus, Avincis y Telespazio, specialized training, access to infrastructure, incorporation into the ecosystem of the Aerospace Pole of Galicia, which includes more than 80 agents; space for companies to develop their activity, economic support and access to investors.

Entrepreneurs have three itineraries to apply for, depending on the maturity of their idea and company. Thus, the incubation path, in which three projects will be selected, has a duration of 12 months and is aimed at unincorporated companies of recent creation (up to five years); the acceleration path, with a duration of 8 months and in which five proposals will be chosen, in aerospace and UAV SMEs that are already in the market, with a validated model and that need to grow; Finally, the consolidation itinerary, which will last 6 months and will host three projects, is focused on companies with a maximum age of 7 years, with products and services on the market and a high growth potential, with the aim of attracting funding and advancing in their internationalization.

The projects selected in the BFAero will have the financial support of the Xunta de Galicia. Specifically, in the incubation program, they will have access to grants of €40,000 from the Agencia Gallega de Innovación. In the case of acceleration projects, they will have access to support of up to €60,000 from the Agencia Gallega de Innovación and participative loans or venture capital of up to €50,000 from XesGalicia and, for consolidation projects, €30,000 in aid and up to €250,000 in funding from XesGalicia. In addition, all projects will be able to make use of the unique infrastructures and services of the Galician ecosystem through a €10,000 voucher.

The BFAero, in collaboration with the Fundación CEL Iniciativas por Lugo, is part of the map of innovative accelerators activated by the Xunta de Galicia in recent years, which includes the business factories of food (BFFood), automotive (BFAuto) and health (BFMedicines), among others.