THE NEW SPACE RACE: Europe launches fund to invest in space startups.

The European Commission is rolling out a new program to offer investment for European startups to keep those companies on the continent.

Officials from the European Commission, European Investment Bank and European Investment Fund announced Jan. 25 they were committing at least one billion euros ($1.12 billion) over five years to Cassini, a program that will provide early-stage funding for European space companies.

The intent of Cassini is to provide European support for those startups to keep them from looking elsewhere, particularly the United States, for funding, which might lead those companies to leave Europe.

Competition is good.