Craft Prospect seeks to bring new technologies into the space domain to maximise opportunities and return from small satellite missions. The business has initially focussed on products and services for next generation quantum optical communications and onboard intelligence, targeting the scalable and cost-effective CubeSat bus.
The challenge
Using quantum technology for space missions is becoming increasingly competitive with many developers around the world taking on the challenge.
Craft Prospect had a vision to be the partner of choice on small space missions and provide dedicated services in an agile manner. As a team of 3, and no one working on the business full time, Craft Prospect wanted to commercialise its vision – taking its prototype software system and turn it into something ready for deployment into a satellite.
The solution
Craft Prospect joined the Higgs Centre for Innovations’ Business Incubation Centre (BIC), managed by the Science and Technology Facilities Council (STFC). Enabled by the funding provided by the programme, Craft Prospect was able to take on extra expertise and grow the team. Having the right skills embedded in the team allowed them to take the prototype it had on development boards and turn it into something – a viable product that could be used in space.
The benefits
Craft Prospect graduated from the programme as a team of 15 and have been able to take forward key relationships which have occurred during its time at the BIC. The start-up now has commercial contracts with the UK Space Agency and European Space Agency, as well as its own space missions.
“The support of The Higgs Centre came at a critical time for our business, providing us with well-targeted funds and expertise we could then leverage to scale-up the company. We could use the facilities to secure paths through testing to first flights for key technologies. Throughout the process, the business was supported both within the centre and by external experts refining the proposition. This has ultimately led to us securing £1.35Mn in investment in August 2021 to deliver our own missions and establishing our own facilities in Govan, Glasgow.”
Steve Greenland, Managing Director, Craft Prospect Ltd.