The cash injection is going to high-risk, high-reward projects that support companies and universities with radical ideas for how we tackle climate change through Earth Observation or address satellite communications challenges, from providing greater connectivity to remote places to increasing the efficiency of our homes.
We want the UK to be a world leader in space technology which is why we are supporting our most ambitious innovators who are developing first-of-a-kind technologies to help solve some of our greatest challenges.The funding comes from the UK Space Agency’s National Space Innovation Programme (NSIP), which is the first UK fund dedicated to supporting the space sector’s development of innovations, allowing us to compete internationally on the world stage with other countries, like France and Germany, which have dedicated national funding for space.
Businesses, universities and research organisations were awarded co-funding for projects that will help the space sector create new high-skilled jobs, while developing new skills and technologies on UK soil. Grants from the £15 million funding pot range from between £170,000 and £1.4 million per project.
The UK space sector is a huge economic success story, growing by over 60% since 2010. The industry already supports £300 billion of UK economic activity through the use of satellite services and is expected to grow further as this new government support unlocks commercial opportunities.
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