London, UK (SPX) Aug 10, 2022 Space start-ups generated almost 9 million pounds in investment and...
Space start-ups generated almost 9 million pounds in investment and created 80 new jobs after taking part in a UK Space Agency-backed business support programme.
The UK Space Agency Space Accelerator Programme, delivered by Entrepreneurial Spark, worked with entrepreneurs from all over the UK aged between 18-70, with business expertise in sectors such as aerospace, law, quantum technology, farming, environmental engineering, and healthcare.
Harshbir Sangha, Director of Growth at UK Space Agency, said: I'd like to congratulate everyone who successfully completed our Space Accelerator.
The UK has a strong entrepreneurial culture and a growing space sector, and there are significant opportunities for new space businesses to start up and thrive with the right support.
The Space Accelerator perfectly encapsulates the value we seek to bring as an agency: catalysing investment, delivering space capabilities and championing space.
With record levels of investment flowing into the sector, we want to accelerate the growth in space start ups and create thousands of new jobs across the UK. Participants included start-up leaders, established businesses in their early stages, and professionals from adjacent sectors who could benefit from space expertise, generating a vast and diverse network of multi-skilled space pioneers.
James New, Co-founder and CEO of ODIN Space Ltd, said: Our biggest achievement during the accelerator was raising our first round of investment.
ODIN Space is now ready to launch and start protecting space assets against orbital debris.
The Space Accelerator Programme was developed in collaboration with partners including Airbus, Astroscale, the European Space Agency, Department for International Trade, STFC RAL Space and others.
Grey Consultants provided open access business horizons tech talks to engage new-to-space attendees from all around the UK. The UK Space Agency is now looking for a partner to design and deliver the next space accelerator phase to run until March 2025.