The Ingenuity Lab Jubilee Campus, Nottingham University
The UK Space Agency has announced that it will provide an extra £90,000 of funding for three of its successful business incubation centres.
The money will go to incubation centres based in Nottingham, Leicester and Durham which support entrepreneurs and small companies in the space industry.
The UK Space Agency is working with industry to help deliver science innovation support in line with the Government’s Industrial Strategy, which emphasises the importance of science, innovation and skills.
“The feedback from the supported companies has been extremely positive and the additional funding from the UK Space Agency will be used to stimulate further opportunities for start-ups by these experienced incubators.”
Grants of £30,000 have been given to the University of Nottingham Innovation Park (UNIP), Leicester Dock, and Business Durham.
The three centres were initially given £50,000 each from the UK Space Agency in 2016 and have supported 32 new companies since then.
The announcement comes during Global Entrepreneurship Week (GEW) 2017, which started on Monday and runs until 19 November. GEW involves 164 countries and a network of more than 17,000 partner organizations.
There are hundreds of events taking place across the UK and thousands more around the world.
The space sector is a UK success story, underpinning industries worth more than £250 billion to the UK economy, with ambitious plans to achieve 10% of the global space market by 2030.
Much of this growth is expected to come from companies using space-derived data or services in a broad range of different sectors.
The UK Space Agency supports 11 business incubators across the UK. They are: