The UK Space Agency is expanding support for business incubation centres across the UK, providing funding that will enable a network of incubators to support start-up companies across the breadth of the space sector.
The incubation funding will grow space in the regions by providing a supportive business environment to assist entrepreneurs to develop small companies – an important path in realising the space sector’s ambition to achieve a 10% share of the global space market by 2030.
The funded incubators, located in the North, North Wales and east Midlands, will provide small businesses with access to facilities and resources and will be part of a network of incubators that will collaborate on events and initiatives.
The incubator funding was announced today at a Northern Space Consortium event in Liverpool where politicians and business leaders in the region were introduced to the opportunities and potential of the highly lucrative UK Space Industry.
Colin Baldwin, UK Space Gateway Programme Manager at the UK Space Agency, said:
“North England, the Midlands and north Wales all have the potential to make a significant contribution to our thriving space sector. There are opportunities for a range of companies developing innovative products that can match the needs of the space industry. We’re committed to nurturing business and research in these regions, and showing small businesses how they can benefit from our £11.8 billion space industry.”