The UK initiates a £65 million funding initiative for Space technologies and applications.
Another intriguing development in the Space sector! What are your opinions on this matter?
The UK Space Agency has unveiled a funding opportunity of up to £65 million aimed at fostering pioneering innovations capable of enhancing the UK’s prominence in space technology and applications. Through the National Space Innovation Programme (NSIP), British organizations will receive support for bold, high-risk, high-reward projects, which have the potential to expedite the advancement of novel space technologies, satellite applications, and services.
The program offers a chance for the UK’s space industry to create innovative and lucrative commercial solutions that address challenges like leveraging satellite data for climate change mitigation or enhancing the sustainability of in-orbit applications through service provision.
The initial portion of funding, totaling up to £34 million, is currently open for proposals aimed at stimulating innovation, expediting the path to market, and sparking investment within the UK space industry. The remaining funding will be allocated through subsequent calls in 2024 and 2025, with projects expected to run until March 2027.
For the full article, check out UKSpace.
Take a look at our Space Industry Landing Page to find out how we’re getting involved with this incredible sector!
Source: UK Space
