Government Gives £100 Million to New Space Sector Initiatives

UK government spends £100 million on new space sector initiatives.

The UK government has given £100 million in funding to companies within the UK space sector. Of that, £99 million comes from the Industrial Strategy Challenge Fund and is earmarked for the creation of a National Satellite Testing Facility (NSTF), located on the Harwell Campus in Oxfordshire. An additional £4 million will be invested in a new National Space Propulsion Facility dedicated to the development and testing of space engines at Wescott Venture Park in Buckinghamshire.

Of this funding initiative, Universities and Science Minister Jo Johnson said:

“Located in a cluster known for research excellence, these new facilities will help UK companies be more competitive in the global market for space technology and support our ambition to capture 10% of the global space market by 2030.”

Source: £100m boost for UK space sector to ensure UK is equipped to stay ahead of the competition