The UK Space Agency on Monday unveiled a £15 million ($16.8m) fund for British businesses to revolutionise satellite communications technology.
The competition will run until next spring.
"It will prioritise customer needs, support sustainable growth and catalyse further investment into the UK space sector, which already employs 47,000 people," the government agency said in a statement.
"Ideas focus on creating entire new satellite constellations, ground systems, or delivering new services to customers, and will be funded through the UK Space Agency’s leading role in the European Space Agency (ESA) Advanced Research in Telecommunications Services (Artes) programme."
The new funding package was announced with Science Minister Nusrat Ghani en route to Rome, Italy, in her first space-focused visit overseas to meet European Space Agency Director General Josef Aschbacher.
The meeting comes ahead of the ESA Council of Ministers next month where the UK and other member states will negotiate their future contributions to ESA for priority space projects and missions.
"I am proud to be representing the UK space sector as we discuss our ambitions ahead of the ESA Council of Ministers next month," said Ms Ghani.
"There are a series of important programmes on the table and I want to harness opportunities in space to grow the UK economy, create jobs and inspire young people into STEM careers.
"We’re also making new funding available now to strengthen the UK’s position as a world leader in the satellite communications market, and I look forward to seeing the results of the competition.
Space investment paying off for UK
The £15m fund came as a report showed every £1 invested in ESA generates an overall return of £11.80 for the UK economy.
The Impact Evaluation of UK Investment in the European Space Agency also showed the UK is in the top three nations in terms of scientific output, with the USA and Germany. This is a measure of the publication rate per every £1 invested among key space-faring countries.
The UK’s role in ESA is an important part of delivering on the government’s ambitious National Space Strategy. The UK committed £374m per year over five years to ESA in 2019 and this report looks at the impact of that investment in 2020 and 2021.
The Artes programme is one of the UK Space Agency’s key commercial drivers for UK space sector growth and includes projects such as Eurostar Neo. UK involvement, which is expected to bring a 20:1 return on investment, will see new geostationary satellites developed by UK-based Airbus launched into space to provide better broadcast, internet and communications services around the world.
Another project at the heart of the UK's space plans is Spaceport Cornwall which The National visited in August in August this year as it prepared to launch its first ever satellite.
First ever satellite to be launched from Spaceport Cornwall in UK
"Our ESA membership delivers huge advantages to the UK, by catalysing investment into the sector, backing innovative companies, and providing access to new missions and capabilities such as the James Webb Space Telescope," said Dr Paul Bate, chief executive of the UK Space Agency
"As a founding member of ESA, UK space organisations benefit from access to world-class facilities in the UK and Europe, the expertise of ESA’s 3,000 staff, and close links to the wider international space community, including other space agencies like Nasa.
"This new report demonstrates how our participation in ESA translates into real results for the UK economy and continues to play an important role in meeting our national space ambitions."
