Italian space initiative receives €30 million in EU funding
Monday, 27 July 2020
Credit: Wikimedia Commons
Italy’s initiative for space investments, ‘Primo Space’, has received €30 million from the European Commission’s Investment Plan for Europe and the InnovFin Space-initiative. The investment is part of a common European investment fund for the space sector, with a budget of €200 million for 2020.
“The Space Economy is a sector of primary importance in Italy, with a turnaround of 2 billion Euros and with over 7,000 employees throughout the supply chain,” the CEO of the Italian National Innovation Fund, Enrico Resmini, said.
The European Commissioner for the Economy, Paolo Gentiloni, added that he is “particularly pleased that the EU is providing financial backing for this ground-breaking fund, joining forces with the Italian Space Agency, opening the way to new investment and job creation in this fast-growing sector.”