At a recent interactive workshop, the European GNSS Agency (GSA) and the European Investment Bank (EIB) gave a new impetus to the Memorandum of Understanding, MoU, between the two organisations to set common operational principles for scaling up investments in downstream commercial applications related to Global Navigation Satellite Services (GNSS). Under their MoU, signed in 2019, the GSA and EIB are exploring the investment potential for the so-called New Space Economy, with a view to supporting a higher private sector involvement in GNSS innovation-based pilots and projects, thereby contributing to high-skilled jobs and European value-added, while implementing the EU Space Programme.