University receives funding to help boost the UK space industry
Loughborough University has been announced as one of three East Midlands incubation hubs to receive funding from the UK Space Agency.
To help nurture the space industry through business incubation support, the UK Space Agency has pledged funding to incubation hubs in the East Midlands, northern England and North Wales.
The funding was granted to three hubs in the East Midlands including Loughborough University. It will support start-up companies across the space sector by providing them with access to a range facilities and resources.
In assisting entrepreneurs to develop their own small businesses, the space sector hopes to realise its ambition to achieve a 10% share of the global space market by 2030.
Announced at a Northern Space Consortium event in Liverpool, politicians business leaders in the region were introduced to the opportunities and potential of the highly lucrative UK space industry.
Colin Baldwin, UK Space Gateway Programme Manager at the UK Space Agency, said:
“North England, the Midlands and north Wales all have the potential to make a significant contribution to our thriving space sector. Within the east Midlands there are opportunities for a range of companies developing innovative products that can match the needs of the space industry, building upon existing strengths in space hardware, Earth observation and global navigation systems. We’re committed to nurturing business and research in these regions, and showing small businesses how they can benefit from our £11.8 billion space industry.”
Notes for editors
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Loughborough is one of the country’s leading universities, with an international reputation for research that matters, excellence in teaching, strong links with industry, and unrivalled achievement in sport and its underpinning academic disciplines.
It has been awarded five stars in the independent QS Stars university rating scheme, putting it among the best universities in the world, and was named the best in the country for its student experience in the 2016 THE Student Experience Survey. It was also named University of the Year in the In the What Uni Student Choice Awards 2015 and Sports University of the Year 2013-14 by The Times and Sunday Times.
Loughborough is consistently ranked in the top twenty of UK universities in the Times Higher Education’s ‘table of tables’ and is in the top 10 in England for research intensity. In recognition of its contribution to the sector, Loughborough has been awarded seven Queen's Anniversary Prizes.
In September 2015 the University opened an additional academic campus in London’s new innovation quarter. Loughborough University London, based on the Queen Elizabeth Olympic Park, offers postgraduate and executive-level education, as well as research and enterprise opportunities.
UK Space Agency
The UK Space Agency is at the heart of UK efforts to explore and benefit from space. It is responsible for all strategic decisions on the UK civil space programme and provides a clear, single voice for UK space ambitions.
The Agency is responsible for ensuring that the UK retains and grows a strategic capability in the space-based systems, technologies, science and applications. It leads the UK’s civil space programme in order to win sustainable economic growth, secure new scientific knowledge and provide benefits to all citizens.
The UK Space Agency:
• Co-ordinates UK civil space activity
• Encourages academic research
• Supports the UK space industry
• Raises the profile of UK space activities at home and abroad
• Increases understanding of space science and its practical benefits
• Inspires our next generation of UK scientists and engineers
• Licences the launch and operation of UK spacecraft
• Promotes co-operation and participation in the European Space programme