The Business Magazine - B2B Business News - Site Logo
The Business Magazine - B2B Business News - Site Logo
The Business Magazine May 2024
Read now
PICK YOUR EDITION

UK Space Agency is unlocking Space for business 

19 October 2023
Share
The Business Magazine article image for: UK Space Agency is unlocking Space for business 
iStock

The Swindon-headquartered UK Space Agency has launched a new programme to help businesses unlock the benefits of satellite data and services.  

Global satellite services currently support activity that contributes £370 billion to the UK economy, which is amore than 17 per cent of our GDP. As the cost of accessing space continues to fall and the pace of innovation increases, a greater number of businesses now have the opportunity to harness the advantages offered by satellites through enhanced imagery, connectivity and navigation capabilities.  

Unlocking Space for Business is an 18-month programme designed to bring these untapped benefits to hundreds of new organisations across the UK, focused on the leading transport and logistics and financial services sectors. 

Opportunity areas can include using satellite imagery to improve the measurement of climate variables and verification of customer insurance claims after extreme weather events, satellite position and navigation to support location tracking and enabling the movement of people and satellite connectivity to help crew and passengers keep in touch with operators and families on shore. 

Unlocking Space for Business will provide workshops, networking events, learning and development sessions, and online resources to support companies in their understanding of what satellite data and services can mean for them as well as offering the opportunity to bid for a share of up to £6 million UK Space Agency funding later this year to help launch innovative pilot projects, data procurement or partnerships.   

George Freeman MP, Minister of State at the Department for Science, Innovation and Technology, said: “The thriving space and satellite sector plays a central role in our ambitions to make the UK a science and technology superpower, and there are significant opportunities to bring the benefits of satellite data down to Earth for a broader range of businesses, large and small.   

“Unlocking Space for Business will pave the way for sectors like transport and finance to make better use of satellite data and services, which already underpin billions of economic activity, helping to create jobs and long-term growth.” 

Dr Paul Bate, Chief Executive of the UK Space Agency, said: “Unlocking Space for Business will champion the use of space and help tackle barriers facing organisations that have not traditionally used satellite data or services. This will help catalyse further investment into our growing space sector and deliver greater benefits for businesses, people, and the environment. 

“This is just one of the ways we’re working to deliver the goal set out in the National Space Strategy to build one of the most innovative and attractive space economies in the world, developing new skills and creating jobs.” 

Satellite data and services have the ability to unlock and deliver new revenue growth opportunities, operational efficiencies, improved customer experiences and ESG benefits for organisations. 

Unlocking Space for Business will connect leading data suppliers, technology integrators, insight providers and end-users to encourage the development and adoption of innovative solutions using satellite data and services. 

Delivery of the programme is being supported by PwC, a leader in human-led, tech powered business transformation, and the Satellite Applications Catapult, a leader in bringing space-based services to market. 

Faye Melly, Delivery Partner at PwC, said: “Businesses today face significant challenges which demand innovative solutions. The to-do list can range from driving operational efficiencies and strengthening customer experience, through to taking action to drive towards Net Zero. In all of these areas space can play a pivotal role.  

“Unlocking Space for Business gives UK firms the opportunity to realise the benefits of satellite data and services, and we’re proud and excited to be supporting the delivery of this programme for the UK Space Agency, in partnership with the Satellite Applications Catapult.” 

Organisations can register their interest https://forms.office.com/e/CA9FK8m3hf to get involved with the project and keep up to date with planned activities including Insight and Networking Events, Exploration Workshops and learning and development sessions ahead of the funding call opening later in the year.  

Lucy Edge, Chief Operating Officer and Acting CEO at the Satellite Applications Catapult, said: “We're excited to launch Unlocking Space for Business today. By bringing together key players in the satellite industry, integrators and end users, we'll make it easier for businesses to access the business-critical data they did not even know was available to them. We'll also connect companies with government funding sources to test out pilot projects using satellite tech.  

“Satellite services drive innovation in all businesses and will boost the bottom line. By building up these partnerships and support systems, we aim to accelerate the adoption of satellite solutions across the private sector.” 

Unlocking Space for Business is part of the UK Space Agency’s Inspiration Programme, directly delivering the National Space Strategy (NSS) goal to use space to deliver for UK citizens and the world by increasing public awareness of the critical role space-based assets play in our daily lives, emphasising how they can be leveraged to enable business benefits such as improving public services and combating challenges such as the climate emergency. 


Nicky Godding is editor of The Business Magazine. Before her journalism career, she worked mainly in public relations moving into writing when she was invited to launch Retail Watch, a publication covering retail and real estate across Europe.

After some years of constant travelling, she tucked away her passport and concentrated on business writing, co-founding a successful regional business magazine. She has interviewed some of the UK’s most successful entrepreneurs who have built multi-million-pound businesses and reported on many science and technology firsts.

She reports on the region’s thriving business economy from start-ups, family businesses and multi-million-pound corporations, to the professionals that support their growth and the institutions that educate the next generation of business leaders.

Related topics

Related articles

Latest Deal Ticket

view more
Business consultants Magnetic (London)
have been acquired by
Management consultants Newton Europe (Oxford)
May 2024
UNDISCLOSED
Who's behind the deal?

Upcoming events

view more
06
Jun

South Coast Property Awards 2024

Hilton Southampton
Utilita Bowl
More info
12
Jun

Leadership Roundtable: Developing strategies for financial returns over the next decade

Herrington Carmichael, Farnborough Aerospace Centre, GU14 6XR

More info
09
Jul

Leadership Roundtable: Opportunities and challenges in the Care Sector

Herrington Carmichael
Farnborough Aerospace Centre, GU14 6XR
More info
18
Jul

Thames Valley Tech & Innovation Awards 2024

Reading FC Conference & Events
Select Car Leasing Stadium, Reading
More info
23
Jul

Leadership Roundtable: Search Fund Exits & Acquisitions

Shawbrook Bank
9 Appold Street, London EC2A 2AP
More info
26
Sep

Thames Valley Property Awards 2024

Ascot Pavilion
Ascot Racecourse
More info
03
Oct

South Coast Tech & Innovation Awards 2024

Hilton Southampton
Utilita Bowl
More info
07
Nov

Thames Valley Deals Awards 2024

Reading FC Conference & Events
Select Car Leasing Stadium, Reading
More info
21
Nov

Hampshire Business Awards 2024

Farnborough International
Exhibition & Conference Centre
More info

Related articles

Group Companies

Dorset BIZ NewsHampshire BIZ News