Sweden and the European Space Agency are investing SEK 20 million to build new startup companies in the aerospace industry in Sweden.

The money, approximately $2.2M, will be invested in an incubator, ESA BIC Sweden, by the Swedes and by the European Space Agency.

The Swedish Government representative in this deal is Vinnova, the agency that administers state funding for research and development.

ESA BIC Sweden opened in December 2015 and is managed by the Arctic Business Incubator (ABI) in the Northern Region, in collaboration with Uppsala Innovation Centre (UIC) in the Capital Region, and Innovatum (IAB) in the Western Region.

Among several others, Unibap, the robot startup from Uppsala, is one of the companies incubated by ESA BIC Sweden. In October 2016, Unibap raised about $1.1M in fresh money.