New funding packages mean the sky's the limit for budding local space firms
A new finance package is being made available to small firms who want to develop products and services connected to the space industry. The Buckinghamshire Enterprise Zone's £500,000 Westcott Accelerator and Incubation Programme is intended to assist start-up and SME businesses at Westcott Venture Park.
Companies can apply for funding - ranging from £5,000 to £25,000 - to support the development of their space-related initiatives. In addition, they can use the Westcott Space Cluster's resources, including its facilities and equipment, as well as make use of its technical support and employees' vast experience.
The objective is to hasten the prototyping of goods and services for the space industry and related fields.
The Satellite Applications Catapult (SAC) will run the programme. Alan Cox, Chief Commercial Officer at SAC, said this about the new programme: “The Westcott Incubator and Accelerator comes at a time of crucial space cluster growth within the UK. The funding will bring new and innovative companies to the already successful ecosystem of space-related firms at Westcott, boosting the Buckinghamshire location as a fantastic hub of sector activity for the future of space.”
Richard Harrington is the CEO of the Buckinghamshire LEP. He's said this about the initiative: “It is vitally important to support start-ups which are often the source of the most innovative and potentially transformative ideas. The Westcott Business Accelerator and Incubation Programme will help grow the scale of skills and business support available within the Enterprise Zone site at Westcott."
“The availability of specialist on site business and skills support will add to the attraction of Westcott as a key site for the UK space industry. The Programme is a sustainable way of supporting businesses to be successful. In doing so it nurtures the space ecosystem and allows us to showcase the value and benefit of being at Westcott.”
Nigel MacKenzie, Development Manager over at Westcott said this: “This new Enterprise Zone funding package is a fantastic incentive to small businesses looking to develop their expertise in the space sector. We look forward to welcoming more start-ups to the well-established ecosystem of space sector business who have made Westcott their home."
“Westcott is a place for businesses to secure their future within a community of technology innovators and in a location that offers unrivalled security and space to grow.”
Main picture of Richard Harrington courtesy of Buckinghamshire LEP
