Advancing UK Aerospace, Defence, Security & Space Solutions Worldwide
  • Home
  • /
  • Space
  • /
  • Metahelios to represent Scotland as Start Up Loans Ambassador

Space

Metahelios to represent Scotland as Start Up Loans Ambassador

Glasgow based Metahelios, a specialist in advanced camera technology for space, is among 12 businesses announced today as Ambassadors of the Start Up Loans programme, part of the British Business Bank.

Above: (left to right) Dr Yash Shah and Dr Charles Altuzarra, founders of Metahelios based in Glasgow, have been announced as Scottish Ambassadors.
Courtesy Metahelios

The programme has delivered more than £63 million of loans to 6,900 Scottish start-ups, at an average value of £9,211. Two such recipients of these loans are physicists Charles Altuzarra and Yash Shah, founders of Metahelios, who each received a £25,000 loan in July 2022 to kickstart their business.

Advertisement
Cranfield

The entrepreneurs have created a first-of-its-kind, long-distance camera that can manipulate light to distinguish between a range of materials from a still image. They are aiming to deploy the technology into space on a rocket from one of the UK’s spaceport sites, capturing data via a satellite that can be used to monitor climate change and orbiting space debris.

According to a report by Lux Research, the global market for metasurface technology could reach $10.7 billion by 2030, with sensing accounting for $5.5 billion of that figure.

Charles Altuzarra, Founder, Metahelios said: “We’re making significant progress in taking our cameras to the next stage and proving the capabilities of our technology – and we’re currently in the process of raising equity funding. The advice we’ve received from some of the industry’s biggest names has been nothing short of inspiring, and we’ve got ambitious plans to be at the forefront of the UK’s space race.

“The loans Yash and I received were instrumental, as they allowed us to invest in manufacturing and testing prototypes. We wouldn’t be where we are today without the initial support we received through the Start Up Loans programme, and we hope the British Business Bank continues to invest in space start-ups which are working to deliver a range of benefits to our planet.”

The annual Start Up Loans Ambassadors programme, now in its eighth year, celebrates exceptional business owners, like Charles and Yash, who have launched an enterprise using funding from the government-backed scheme.

Drawn from each of the UK’s 12 Nations and regions, the 2023/24 Start Up Loans Ambassadors reflect the broad diversity of sectors and business owners supported via the programme. More details of the businesses selected from Scotland, England, Wales and Northern Ireland’s regions can be found further below.

Metahelios and the other 2023/24 Ambassadors will be introduced at a launch event in central London that kick-starts a year-long programme which will see the new Ambassadors take part in a series of local and national activities, helping inspire and encourage aspiring start-up founders to take the leap into business ownership.

Susan Nightingale, Devolved Nations Director, UK Network at the British Business Bank, said: “Scotland’s aerospace scene is booming, and it’s brilliant to see forward-thinking start-ups like Metahelios bringing cutting-edge technology to the market. I’m thrilled to welcome Charles and Yash and congratulate them on their roles as Ambassadors, and I look forward to working with them over the coming year to inspire others thinking of embarking on their own entrepreneurial journey.”

Lord Malcolm Offord, UK Government Minister for Scotland and Exports, added: “It’s great to see pioneers such as Charles and Yash being appointed as Start Up Loan Ambassadors for Scotland. Their story is the perfect example of what a huge difference this funding can make to businesses looking to get off the ground. With their help we can encourage other entrepreneurs to use the Start Up Loan programme to give their businesses a kick-start.”

Advertisement
Marshall RT 2

Since its inception in 2012, the Start Up Loan programme has delivered more than 105,000 loans to business owners across the UK, amounting to more than £1bn of funding. Of those loans, 40% of loan recipients have been women and 20% from Black, Asian, and Other Minority Ethnic backgrounds (not including White Minorities).

Regional breakdown of loans since 2012

Through a network of business support partner organisations, the Start Up Loans programme provides access to pre-and-post loan support to help applicants to develop a business plan; fixed-interest first and second loans of up to £25,000 to start or grow their business; as well as mentoring support to help loan recipients with everything from cash flow to marketing.

 

 

 

Advertisement
General Atomics LB General Atomics LB
Lift off for UK’s NSTF

Space

Lift off for UK’s NSTF

24 May 2024

The UK’s first 'one-stop shop' for large satellite testing - the National Satellite Test Facility (NSTF) - operated by the Science and Technology Facilities Council (STFC) RAL Space, has officially opened its doors and is set to welcome its first customers and ensure spacecraft up to seven tonnes will survive launch and the harsh conditions of space.

Farnborough International partners with The Future Business

Aerospace Defence Space Events

Farnborough International partners with The Future Business

23 May 2024

Farnborough International has partnered with The Future Business to offer a series of career events across its portfolio to inspire the next generation of aerospace, defence and space pioneers.

UK secures leading role in Vigil mission

Space

UK secures leading role in Vigil mission

23 May 2024

UK Space Minister Andrew Griffith was in Brussels yesterday, where he witnessed the signing of a major industrial contract that will see Airbus Defence and Space in Stevenage building Europe’s flagship space weather mission, Vigil.

NSpOC and UK space sector regulation roadmap launched

Space

NSpOC and UK space sector regulation roadmap launched

17 May 2024

A new regulatory review for space sector has been published, as UK Science and Defence Ministers launch the UK's National Space Operations Centre (NSpOC).

Advertisement
ODU RT 2
UK team to start work on world’s largest telescope

Space

UK team to start work on world’s largest telescope

16 May 2024

Engineers at the UK Astronomy Technology Centre (UK ATC) are to begin manufacturing the first instrument for the world-renowned Extremely Large Telescope (ELT).

Un-jammable quantum tech takes flight

Aerospace Defence Security Space

Un-jammable quantum tech takes flight

14 May 2024

In a commercial world-first, quantum navigation technology developed in the UK, supported through UKRI funding, has been successfully tested in flight.

Advertisement
Advanced Engineering RT