Growing the UK space business sector

The UK Space Agency is launching a scheme to boost the UK’s space businesses and alert more firms to the possibilities space-related enterprise can bring.

The up to 10-week Business Accelerator programme, delivered in partnership with business growth experts from Entrepreneurial Spark and The University of Strathclyde, offers free virtual sessions to help companies with their sights set on space to make progress.

Businesses that may not have previously considered the opportunities presented by the space industry can also benefit. Pre-launch activity already involves a nationwide targeting of relevant businesses to alert them to the possibilities for growth.

The scheme, getting under way in early March, has been dubbed a "voyage of discovery” and aims to find entrepreneurs from a wide range of sectors to strengthen the UK’s space industry infrastructure.

Space has transformed into one of the UK’s fastest growing sectors, trebling in size since 2010. The UK space industry now employs close to 42,000 people across the country and generates an income of nearly £15 billion every year.

Catherine Mealing-Jones, Director of Growth at The UK Space Agency, says, 'The space sector is ripe with opportunity, and as the UK recovers from the COVID pandemic this new support programme will bring in diverse ideas and talent to realise that growth opportunity.

'A practical approach to how to develop a business, combined with access to experts who can guide success are hallmarks of the programme. This is coupled with an holistic focus on supporting truly sustainable businesses to ensure that the space sector can provide new long-term secure employment right around the country.'