Unlocking space for business: A UK Space Agency initiative

The UK Space Agency has launched a groundbreaking initiative, “Unlocking Space for Business,” aimed at helping businesses harness the advantages of satellite data and services

This 18-month program seeks to extend the benefits of satellite technology to a wide array of UK organisations, with a particular focus on the transport, logistics, and financial services sectors.

Satellite technology: Transforming business

The program opens doors to various possibilities, including using satellite imagery to enhance climate variable measurement and verify insurance claims post-extreme weather events.

Additionally, it supports satellite positioning and navigation for location tracking and enables seamless communication between crew and passengers at sea.

Support for business growth by UK Space Agency

“Unlocking Space for Business” offers a comprehensive support system that includes workshops, networking events, learning sessions, and online resources. Furthermore, companies can vie for a share of up to £6 million in funding from the UK Space Agency to launch innovative pilot projects, procure data, or form partnerships.

George Freeman, MP, Minister of State at the Department for Science, Innovation, and Technology, emphasises the unique opportunity for sectors like transport and finance to utilise satellite data for growth and improved customer experiences. This initiative aligns with the UK’s goal to become a science and technology superpower, driving economic growth and job creation.

Expanding the space economy

Dr. Paul Bate, Chief Executive of the UK Space Agency, highlights the initiative’s role in catalysing investment in the growing space sector. The goal is to create one of the world’s most innovative and attractive space economies while developing new skills and employment opportunities.

Pioneering space-based solutions

Satellite data and services present opportunities for revenue growth, operational efficiency, enhanced customer experiences, and ESG (Environmental, Social, and Governance) benefits. “Unlocking Space for Business” connects data suppliers, technology integrators, insight providers, and end-users to foster innovative satellite data and services solutions.

Get involved in the space revolution

PwC, a leader in business transformation, and the Satellite Applications Catapult, known for bringing space-based services to market, are supporting the project. Faye Melly from PwC emphasises space’s pivotal role in addressing various business challenges.

Organisations can express their interest in participating in the project and stay informed about upcoming activities, including Insight and Networking Events, Exploration Workshops, and learning and development sessions leading up to the funding call later in the year.

Accelerating the adoption of satellite solutions

Lucy Edge, Chief Operating Officer and Acting CEO at the Satellite Applications Catapult anticipates that “Unlocking Space for Business” will facilitate access to critical satellite data and government funding sources, ultimately accelerating the adoption of satellite solutions across the private sector.

This initiative is a part of the UK Space Agency’s Inspiration Programme, promoting the role of space-based assets in improving public services and addressing global challenges.