Satellite Bulletin: The UK - Achieving the target of £40billion?

04 September 2015

Joanne Wheeler

A key goal of the recent UK Space Innovation and Growth Strategy (IGS) is to “make the UK the best place to start and develop space businesses”.

This is a key objective in order to achieve the target of a UK space industry valued at £40 billion by 2030. A recent Case for Space 2015 report shows that the UK space industry is currently worth £11.8 billion.

The UK space industry has been acknowledged as one of the “UK’s Eight Great Technologies”. However, it is not clear what this statement means in practical terms in relation to assistance and support available for players in the UK industry or companies considering growth and development in the UK.

I am often asked about the practical help available, incentives and sources of advice for companies intending to establish in the UK or seeking to grow and develop here. This Bulletin provides a brief summary of, and links to, some of these sources.

UK Trade & Investment (UKTI)
The UKTI works with UK based companies to assist them in international markets through exports and supports overseas companies set up or expand in the UK.

Satellite Applications Catapult - Space Business Portal
The Catapult has high value facilities and expertise available to support the growth of satellite businesses, along with providing business support and connections.  A summary of support and contacts can be found at the Space Business Portal.

Knowledge Transfer Network (KTN)
The KTN provides advice on national and European funding opportunities and advice on bids.

Innovate UK
Innovate UK can provide funding and support to help early stage innovative businesses develop new products and services.

Satellite Finance Network (SFN)
The SFN is useful to join if you wish to participate in networking opportunities, regulatory training, pitch training and elevator pitches.  

UK Space Agency (UKSA)
Once a company is resident in the UK there are various funding opportunities that are available from the UKSA such as through the Space for Smarter Government Project (SSGP) and the International Partnership Space Programme (IPSP).

Local Enterprise Partnership (LEP) Network
LEPs are local business led partnerships between local authorities and business and undertake activities to encourage economic growth. The 39 LEPs across England can support companies looking to set up in their regions. There is also equivalent support in Scotland and Wales.

Also available as a PDF >

Authors