Glasgow's Methelios Helps Level Up Start-ups in UK

Metahelios named the ambassador of the Start-Up Loans programme.

00:43 24 October 2023

Metahelios, a Glasgow-based company specialising in advanced camera technology for space, has been chosen as the ambassador for the Start-Up Loans programme. The firm officially joins other 12 companies tasked to provide assistance to startups across the United Kingdom. 

The programme, which is run by the British Business Bank and which will run for a year, will see Metahelios and other 12 companies take part in activities aimed at inspiring start-up founders into business ownership. The programme has awarded more than £60million in loans to almost 7,000 Scottish start-ups and about £1billion UK-wide since it was launched in 2012. 

Susan Nightingale, UK network director for the devolved nations at the BBB, 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.” 

Charles Altuzarra, an entrepreneur who creates a long-distance camera that uses light to distinguish materials from a still image and one of many founders to benefit from the programme, 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 we received were instrumental, as they allowed us to invest in manufacturing and testing prototypes.” 

Mr Altuzarra hopes to deploy its camera into space to capture satellite data that can help monitor climate change and orbiting space debris. 

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.”