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  • Writer's picturePhilip Day

UK Government to Support Space Industry in Newly Announced Measures

United Kingdom Government today announced a package of additional measures in support of the #Space #Industry focused on three types of support.

1. government coordination

2. export support

3. investment promotion

The Space Sector COVID Support Plan, catchilly described as the SSCSP follows many government documents by proposing 3 interventions, to be delivered against 5 aims. It comes across as a little confusing.

Speaking of the 17 page plan issued today, #Minster for #International #Trade, Graham Stuart MP said: "The Space Sector COVID Support Plan will complement actions already being taken by business and I hope will catalyse further investment and innovation in the UK space ecosystem."

In short, the aims can be summarised by Prime Minister Boris Johnson's oft quoted phrase to #BuildBackBetter, in response to about half of the industry which has both slowed or haled plans to expand abroad, whilst the same fraction if the industry has lost out on investment against pre-COVID levels.

All in all there are 8 deliverables, some of which aren't news to you. For example the fantastic Space Park Leicester project is a key deliverable in-and-of itself. Whilst that's wonderful news, the project is already well progressed.

For our purposes the most, perhaps only, truly newsworthy deliverable is the creation of a new Space Sector Export Academy, in order to upskill SMEs and prepare them to thrive when seeking foreign investment or export opportunities. SMEs are an important minority in the sector, dominated by the likes of Airbus Defence & Space, accounting for a full 30% of the UK Space Industry.

A virtual round-table is scheduled for the Space Industry to review these measures on 1st March. If that describes you, you can sign up for that session here.

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