Member Article

UK SMEs set to exploit the space industry

£2.5 million of government support will be shared between 22 British companies working in the space technology industry.

The grant funding, from the UK Space Agency, the Technology Strategy Board, and the South East England Development Agency, will support fast-track R&D projects, lasting between 6 and 9 months.

With match funding from the businesses involved, the total value of the R&D is nearly £5 million, and will cover development of projects from technology to exploit the Galileo navigation satellite system, to techniques for crop monitoring from space.

Dr David Williams, Chief Executive of the UK Space Agency, said: “The UK space industry is one of the fastest growing sectors in the country, contributing £7.5bn annually to the UK economy.

“The National Space Technology Programme (NSTP) will help us further this success by providing an opportunity for promising UK space technologies and applications to be developed to meet their full commercial potential and for businesses to explore collaborations with other sectors to establish services in new markets.”

The NSTP will facilitate £10 million to help UK industry exploit growth opportunities in the space sector and improve the UK’s space technology capabilities.

Iain Gray, Chief Executive of the Technology Strategy Board, added: “This new investment in research and development by the UK’s space industry will help innovative British businesses to design and develop cutting-edge products and technologies that will be in global demand, helping to drive UK economic growth and support high-tech jobs here.”

14 of the companies to receive the funding are SMEs, with a number planning to use the facilities available at the International Space Innovation Centre at Harwell and Guildford.

Oona Muirhead CBE, Chief Executive of SEEDA, said: “We are delighted that SEEDA’s £500,000 investment is providing fast-track support, just at the time it is needed, to British companies in the space industry.

“Engaging in research and development programmes is critical if Britain is to increase its share in the export market and the global space industry provides huge commercial and export opportunities.”

This was posted in Bdaily's Members' News section by Tom Keighley .