The space industry literally bring endless opportunities to improve life on earth. Where commercial earth observation nowadays is popular amongst entrepreneurs, let’s not forget the impact of satellite navigation on our daily lives. If you have such an idea, you can make a business out of it with help from the Galileo Masters competition.
The Galileo Masters is the global innovation competition scouting for cutting-edge solutions using satellite navigation data. It is looking for the best uses and business cases of a GNSS like Galileo in fields like agriculture, logistics, healthcare, cyber security, location-based services etc. Since 2004, the competition has counted for 4.700 business cases and attracted more than 13.000 participants. Fuelled by the European Commission, this event is aiming to utilize space technology to improve life on earth.
Galileo Masters prizes: what’s in it for you?
What’s in it for you? Well, for starters, it has the biggest prize pool to date. There is over 830.000 euro in prize money and expertise to distribute. Next to that, there is over 350.000 euro worth of the Galileo Incubation Programme to distribute. This programme is funded by the European Commission. It will support entrepreneurs and startups to move beyond idea conception into business incubation in order to develop their solutions into true commercial ventures.
Choose your path
It’s recommended to apply your idea and link it to a specific region in Europe. Why? Because each region offers slightly different prizes. See what market suits you best, and apply there to get the best tailored support after the competition. There are 18 regions to choose from! For instance, winning the Galileo Prize Netherlands gets you office space and business support in the form of incubation programmes like the Ignition Programme and even ESA BIC Noordwijk.
Need help with an idea and just want to compete and test your entrepreneurial skills? There are 8 partner challenges (for instance by the EU/EUSPA, ESA and the German government) that focus on markets that need our attention right now.
Thanks to the initial outline of the competition, you basically can win twice. Whether you apply for a country prize or a specific partner challenge (or both!), either way you are also automatically competing for the overall Galileo Masters 2021 award.
If this appeals to you, and have an idea that can benefit the world, you can apply until July 19, 2021.