£2million funding aims to stimulate space innovation
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A £2 million funding competition to stimulate innovation across the space industry has been launched by The Technology Strategy Board (TSB) and the South East England Development Agency (SEEDA).
The Feasibility Studies for Innovation in Space funding competition aims to accelerate the development of new innovative commercial opportunities in the space sector and is aimed at innovative businesses in the UK, with investment of up to £25,000 available for each feasibility study.
The key criteria for assessment of project proposals from companies are market potential, commercial impact and potential for success in the next steps of development.
The competition runs from 10th January to 10th February 2011. The board has stated that project proposals must relate to one or more of the following market areas; satellite telecommunications, sensing, position, navigation and timing, robotics and exploration and access to space. Projects are strongly encouraged to exploit and build on the capability of the International Space Innovation Centre, a centre of excellence and hub for British space activity which SEEDA has supported with £6m of collaborative R&D funding.
The board has stated that the feasibility studies supported under the competition may develop into submissions to a follow on competition, which is under consideration for later in 2011.
