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The funding – unveiled on Monday 20 July at Farnborough International Airshow by Space Minister Liz Lloyd – will support new satellite communications systems and space innovation projects, helping turn early-stage ideas into commercial products, strengthen the UK’s ability to monitor and protect assets in orbit, and build a more resilient domestic space sector.
Building domestic capability in these areas is vital to strengthen the UK’s national security, economic resilience and ability to act confidently on the world stage.
Today’s funding puts that ambition into action. It will help UK innovators build the satellite communications, space security and commercial technologies that strengthen Britain’s competitiveness, resilience and security.
New figures from the UK Space Agency show that pipeline is already expanding. Its Accelerator programme, which works with new space companies to help them attract investment, develop their technologies and win customers, has supported 289 founders and helped raise more than £102 million in investment.
Space Minister Liz Lloyd said, “Space is not just a scientific frontier, it is a strategic one. If we do not build national capabilities at home, we become overly dependent on others for technologies we cannot afford to be without. That is why today we are announcing £62 million for satellite communications and space innovation, investing in the British businesses and researchers who will make that capability real. This funding will help develop new satellite communications technologies to keep remote communities connected, capture a growing market for on-orbit manufactured products and strengthen our ability to monitor and protect assets in orbit, while supporting the next generation of space innovators turning early-stage ideas into commercial products. Strengthening domestic capability in these areas, alongside working with international partners, will help ensure the UK remains secure, resilient and a leader on the world stage.”
The £62 million includes £42 million to develop new British satellite communications technologies and £20 million to support space innovation projects across industry and universities.
