London, UK: The UK government granted GBP 2.5 million fund to enable around 22 British companies to develop commercial products and services using space technology or satellite data. The fund has been granted by the UK Space Agency, the Technology Strategy Board and the South East England Development Agency. This financial aid will support around twenty-eight fast-track research and development projects.
These projects will cover a broad range of growth opportunities, ranging from novel propulsion for cubesats; through technology to exploit the Galileo (a navigation satellite system); to techniques for crop monitoring from space.
The investment forms part of the UK Space Agency’s National Space Technology Programme (NSTP), which will see government investment of GBP 10 million to help UK industry exploit growth opportunities in the space sector and improve the UK’s space technology capabilities.
Iain Gray, Chief Executive of the Technology Strategy Board said, “This new investment in research and development by the UK’s space industry will help innovative British businesses to design and develop cutting-edge products and technologies that will be in global demand, helping to drive UK economic growth and support high-tech jobs here”.
Source: Space Travel