The incubation funding will provide 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.
While a number of start-ups have set up in the space market, it remains a challenging area for companies. 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.
Colin Baldwin, UK Space gateway programme manager at the UK Space Agency, said: “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.”
