Funding Awarded to Schemes to Support Space Entrepreneurs 

27th March 2017 // Press Releases

The UK Space Agency has awarded just under £150,000 to three business incubation centres across the UK which will support entrepreneurs and small companies in the space industry.

The Agency is working with UK industry to deliver world-class science innovation support, in line with the Government’s Industrial Strategy, which emphasises the importance of science, innovation and skills.

The business incubation centres in the Solent, Scotland and the South West of England, will support start-up companies by providing advice and support, giving access to facilities and resources and collaborating on events and initiatives with other business incubators.

  • Just under £50,000 has gone to a joint scheme between the National Oceanography Centre’s Marine Robotics Innovation Centre, in Southampton, and the University of Portsmouth’s Innovation Space. The money will be used to provide an innovation hub in Southampton with world-leading expertise in developing next generation Marine Autonomous Systems and an incubation centre in Portsmouth.
  • In a scheme led by the University of Exeter, the South West Centre of Excellence in Satellite Applications Partnership has received £50,000 to run the SpaceTech Incubation Initiative, which will support start-ups and innovative SME’s to exploit space technology. SpaceTech will be delivered by SETsquared EXETER with high-potential businesses being provided with ‘grow-on’ space at Goonhilly Earth Station, Helston.
  • A further £50,000 has gone to the Scottish Centre of Excellence in Satellite Applications, based at the University of Strathclyde, to work with Tontine in Glasgow, a high-tech acceleration and growth space for new businesses. The money will be used to support new start-up and scale up businesses.

The space sector is a UK success story, with growth averaging over 8% a year over the last decade, a turnover in excess of £11 billion a year and ambitious plans to achieve 10% of the global space market by 2030.  Much of this growth is anticipated to come from companies using space-derived data or services in a broad range of different sectors.

Helen Roberts, Regional Growth Manager at the UK Space Agency, said: “We are delighted to extend the network of incubators supporting space sector start-ups to cover even more of the UK.

“These new business incubators add to the existing network of SETsquared, Leicester Dock, UNIP in Nottingham, Loughborough University, Business Durham, Science and Technology Facilities Council (STFC) at its Daresbury Laboratory site, Glyndwr Innovations in St Asaph, North Wales and the European Space Agency’s business incubator at Harwell.

“We look forward to working with them and seeing them help exciting new businesses to develop and flourish.”

Nicola Lloyd, Head of Inward Investment at Invest in Cornwall, said: “Cornwall already has a strong offering for SME’s and start-ups in terms of infrastructure, knowledge and connectivity, so the addition of the SpaceTech Incubation Initiative is fantastic news.

I look forward to working closely with the programme moving forward and supporting inward investors looking to set up or expand their operations into the region.”

ENDS

UK Space Agency

The UK Space Agency is at the heart of UK efforts to explore and benefit from space.  It is responsible for all strategic decisions on the UK civil space programme and provides a clear, single voice for UK space ambitions.

The Agency is responsible for ensuring that the UK retains and grows a strategic capability in the space-based systems, technologies, science and applications. It leads the UK’s civil space programme in order to win sustainable economic growth, secure new scientific knowledge and provide benefits to all citizens.

The UK Space Agency:

  • co-ordinates UK civil space activity
  • encourages academic research
  • supports the UK space industry
  • raises the profile of UK space activities at home and abroad
  • increases understanding of space science and its practical benefits
  • inspires our next generation of UK scientists and engineers
  • licences the launch and operation of UK spacecraft
  • promotes co-operation and participation in the European Space programme
European Regional Development Fund

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