CzechInvest Helps Czech Space Startup Sign Deal With U.S. Investors Worth Millions of Dollars
Czech-Slovak startup Groundcom.space plans to operate as an extraterrestrial communication service provider. With support from the CzechInvest agency, the company was recently able to sign an exclusive contract worth several million dollars at the Satellite2022 conference in Washington, and the agency is helping facilitate further contacts at other US events, including TechConnect and Czech Tech Days. Photo credit: Freepik
Czech Republic, June 19 (BD) – Start-up Groundcom.space is connecting the earth with space, and is working to create a network of ground stations that will manage communications as a service to space mission operators. It is part of European Space Agency’s space incubator BIC Czech Republic, and in the autumn of 2021, the company began working with the CzechInvest agency to gain experience on a three-month CzechAccelerator program.
At the Satellite2022 conference in Washington, company representatives signed an exclusive framework contract for several million US dollars with a company that develops satellites for the US Air Force, for the operation of the upcoming constellation of 400 satellites. The startup has another opportunity to gain contacts soon by participating with CzechInvest in the TechConnect and Czech Tech Days trade fairs in New York, where several Czech companies will offer their products to foreign investors and establish strategic partnerships.
Jakub Lajmon, the founder of Groundcom.space, acknowledged that participation in CzechInvest’s programs has been pivotal for the startup in many ways. He said that without a few months in the United States, it would have been impossible to establish cooperation with a foreign investor, and that CzechInvest’s acceleration program, which allowed the company to test its product abroad without major investments, also brought a new strategy.
“We have managed to identify the segment of clients who benefit most from our service and to whom we bring the greatest savings. Suddenly, we had dozens of clients from a list of hundreds that we started to focus on more. Therefore, I can recommend CzechInvest’s services in this respect as well,” he said. Currently, the startup is recruiting employees in addition to clients.