Business incubators will help space industry grow

Posted on 11 Jan 2018 and read 747 times
Business incubators will help space industry growThe UK Space Agency (www.ukspace.org) has announced £200,000 of funding for four new business incubators, with the aim of boosting the number of start-up companies in the space sector across the UK.

Located in Buckinghamshire, Hampshire, Leicestershire and London, the incubators will provide world-class science innovation support for entrepreneurs and small businesses, to help grow the UK space industry.

This follows the launch of the Government’s Industrial Strategy, which includes a £50 million programme to enable new satellite launch services and ‘low gravity’ spaceflights from UK spaceports.

UK Space Agency chief executive Graham Turnock, who made the announcement at the STFC RAL Space Appleton Space Conference at Harwell in Oxfordshire, said: “The funding for these new business incubators will see the excellent network of support we have in the UK expand and provide further opportunities for exciting start-ups in the space sector.

“Supporting new businesses across the UK is central to our ambition of capturing 10% of the global space market by 2030, and I am sure these new incubators will have a fantastic impact.”

The funding will see £50,000 go to Oxford Innovation (for two new incubators in Fareham and Bordon in Hampshire), £50,000 for Seraphim (to establish a ‘space accelerator’ in London) and £50,000 for the Satellite Applications Catapult at Harwell (to establish a space incubator at Westcott, Buckinghamshire).

The University of Leicester will receive £50,000 to establish a graduate ‘pre-incubator’ to help students develop entrepreneurial ideas.

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