The Technology Strategy Board and the South East England Development Agency (SEEDA) are launching a £2m competition to fund innovative projects in the space industry.
The ’Feasibility Studies for Innovation in Space’ funding competition aims to accelerate the development of new innovative commercial opportunities in the space sector.
Feasibility studies should last up to three months and each cost no more than £33,000 in total. Seventy-five per cent of a project’s cost will be funded with an investment of up to £25,000. Projects may be collaborative or carried out by a single company.
The key criteria that will be used to assess project proposals from companies will be their market potential, commercial impact and potential for future further development.
Those submitting projects are encouraged to exploit and build on the capability of the International Space Innovation Centre, a centre of excellence and hub for British space activity, which SEEDA has supported with £6m of collaborative funding.
The competition is a single-stage process that will open on 10 January 2011 and close at midday on 10 February 2011. Applicants will be informed of the outcome of their application by 28 February 2011. A competition briefing will be held in London on 19 January 2011 to explain the process.