A scheme to alert more firms to the possibilities of space-related enterprise is set to be launched by the UK Space Agency.
The up to 10-week Business Accelerator programme, delivered in partnership with the University of Strathclyde, offers free virtual sessions to help companies with their sights set on space to make progress.
The scheme, getting under way in early March, aims to find entrepreneurs from a wide range of sectors to strengthen the UK’s space industry infrastructure.
Space has transformed into one of the UK’s fastest growing sectors, trebling in size since 2010.
The UK space industry now employs close to 42,000 people across the country and generates an income of nearly £15bn every year.
Scotland is particularly strong within the UK’s space sector and is home to almost a fifth of the total jobs, valued at £880m in 2017-18.
Catherine Mealing-Jones, director of growth at the UK Space Agency, explained: “A practical approach to how to develop a business, combined with access to experts who can guide success are hallmarks of the programme.
“This is coupled with an holistic focus on supporting truly sustainable businesses to ensure that the space sector can provide new long-term secure employment right around the country.
“Key to this approach is bringing innovators together in existing and new clusters of space-related activity, thereby gathering critical mass which will also benefit adjacent parts of the economy.”
The UK already has several firms producing small satellites and utilising space data, with the UK Government targeting 10% of global space market share by 2030.
Growth sectors include manufacturing, engineering, robotics, data science and autonomous vehicles, according to the government.
Businesses of any size can take part in the new programme, including those that are: in the sector already and looking to grow; using space technology as part of their business; or open to exploring expansion into the space sector via conservation, archaeology, sustainability, economics, finance, law and health.
Under the scheme, two strands of support are available:
- Business Horizons is a series of eight one-off events which are one hour each, with a “rich series of orbital activities”. The first event is set for 8 March.
- Leo – which stands for low earth orbit – is a 10-week programme designed to inject pace, with entrepreneurs emerging with a clear strategy for 90 days of targeted activity to help them make progress in the UK space programme.
Sarah Burns, space cluster development manager of the University of Strathclyde, added: “Scotland’s space sector has seen impressive growth over the past years and this business support programme is a great example of how universities play an important role in this growth and the business eco-system.
“By translating research and innovative ideas into the business and commercial worlds, the university is well-placed to support businesses wishing to explore space as a business opportunity.
“This programme allows us to engage with the amazing start-ups and businesses that are becoming interested in the opportunities that the space sector can enable in their respective sectors, all of which supports the growth of what is an exciting and rapidly expanding UK space sector.”
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This Article firstly Publish on www.insider.co.uk