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    Financial services is the largest industry in the world that collaborates with other sectors.

     

    It is made up of banking, financing, investment, insurance, trading and intermediation services, as well as financial utilities like stock exchanges, market regulators and interbank networks.

    The traditional dominance of large conglomerates and corporations is being transformed by new Financial Technologies or “FinTech” (defined as “software and modern technologies used to support and/or enable financial services”). This creates an opportunity for new players to access the financial services industry, competing or collaborating with existing institutions. FinTech is driven by three main principles:

    • Democratisation (financial services accessible to everyone)
    • Transparency of financial services
    • Improved customer experience

    This is an extremely data-hungry industry, pioneering and pushing many enabling technologies like data analytics, telecommunications, artificial intelligence, blockchain, cybersecurity, smart contracting and – as an enabler of all of them – space. The size of the industry, its penetration in many other verticals and the amount of private investment available, all combine to make it a very attractive proposition for new businesses and researchers who are developing space-enabled services and applications.

    In recent years, the financial world has increasingly moved towards the so-called “Sustainable Finance”, a sector where ESG (Environmental, Social and Governance) factors are taking into consideration in investment and decision making processes. Space technology in this area can make a strong contribution in increasing the accountability of companies. Imagery taken from satellites can be used to track the emissions of companies, deforestation and loss of biodiversity, for natural heritage protection, blue economy and climate applications to monitor risks of physical events. Nowadays, this technology is bringing very promising results.

    RELATED OPPORTUNITIES

    Under NAVISP Element 2, the Agency issues this permanently open Call for Proposals for the development of innovative competitive products in the Satellite Navigation and wider Position, Navigation and Timing domain. The objective is to boost Member States’ industrial competitiveness in the fast- evolving navigation sector. Proposals are welcome from space and non-space companies, from large and small enterprises and start-ups. Products can address satellite space segment, ground infrastructure and user segment including applications and services. Industry and research institutions of interested participating States are therefore invited to submit Outline Proposals for the development of pre-operational products matching their strategies and plans. Upon positive assessment of their Outline Proposal, they will be invited to submit the Full Proposal which will be evaluated once a Support Letter from the relevant national Delegation is received. The Tendering process details and the guidelines for preparing the Outline and Full Proposals are described in the AO.

    This is a call of the  Navigation Innovation and Support Programme (NAVISP) Programme Element 2. 

    For more information and access to the open call for proposal documents see esa-star webpage.

    The objective of the call is to provide a framework to rapidly respond to new innovative ideas.

    The scope of the call covers elements of Block 4 of Future EO-1 Segment 1.

    The particular focus for innovative activities under each element is as follows:

    1. Grand Science Challenges
    2. EO for a Resilient Society
    3. Artificial Intelligence for EO
    4. Regional Initiatives
    5. EO for Civil Security

    Any individual contract will be limited to a Firm Fixed Price of up to 150KEuro and to a maximum duration of 12 months.

    Bidders will be required to demonstrate the innovative content of their proposals and, where appropriate, the engagement of relevant stakeholders. For proposals related to Grand Science Challenges, bidders will be also required to demonstrate scientific excellence of the proposed activity.

    Learn more about this Invitation To Tender on esa-star.

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