Signing of Memorandum of Understanding will support UK businesses and high-growth companies in the space and space-enabled sectors with future investment opportunities
Newable, a leading provider of professional services, financial support and property space to UK businesses, has signed a Memorandum of Understanding with the national SPRINT (Space Research and Innovation Network for Technology) programme. The agreement will enable high-growth space companies and UK SMEs to identify future investment opportunities for their products and business.
The £4.8 million SPRINT programme provides unprecedented access to university space expertise and facilities to help businesses develop new commercial products for space and other key sectors. SPRINT is supported by Research England and is being delivered by a consortium of five of the UK’s leading space universities, led by the University of Leicester and including the University of Edinburgh, Open University, University of Southampton and University of Surrey.
SPRINT will work with Newable to identify potential investment opportunities through its networks of angel investors for high growth companies engaged with the SPRINT programme in sectors such as MedTech, AI and space technology.
Mike Walsh, Newable CFO and Newable Private Investing Managing Director comments, “We’re extremely excited to partner with SPRINT. The SPRINT programme provides a unique opportunity for SMEs to access support for space technologies, which will inevitably help them innovate and develop new technologies for the space sector.
“By partnering with SPRINT, we will be able to support some of the most exciting, high growth space companies in the UK within this programme and hopefully offer new investment opportunities to our network of investors.”
Ross Burgon, Head of the national SPRINT programme added: “SPRINT provides SME businesses with access to funded support to help with the development of new products, technologies and applications for space and other sectors including medicine, agriculture, food and drink manufacturing, and many more. This agreement with Newable will allow us to extend our support for these businesses by identifying and signposting further investment opportunities from a nationally trusted source.”