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The NSW Space+ Programme, a newly launched grant initiative, aims to propel New South Wales (NSW) businesses towards commercialising their innovative technologies and showcasing the state’s burgeoning space industry on an international platform.
With a total of AU$500,000 in grant funding available, the programme is designed to advance both the NSW and Australian space ecosystems through strategic partnerships and collaborations. This initiative seeks to drive the commercialisation of capabilities that are in high global demand, delivering significant social, economic, and environmental benefits to the people of NSW.
The NSW Space+ Programme intends to underscore the exceptional quality of NSW’s rapidly expanding space sector at the International Astronautical Congress (IAC) in Sydney, scheduled for September next year. The IAC, expected to attract over 10,000 delegates from around the world, will serve as a pivotal event to position NSW and Australia as leaders in the global space market.
SmartSat CRC, Australia’s premier space research centre, will administer the NSW Space+ Programme. SmartSat CRC is renowned for its collaborative efforts, bringing together academics, researchers, industry stakeholders, and end-users to advance space technology.
Applications for the grant are now open, offering NSW businesses the opportunity to secure funding to further their space-related innovations. More information on the application process can be found at SmartSat CRC’s website under their key initiatives section for the NSW Space+ Programme.
The Deputy Secretary of Investment NSW stressed the importance of this programme in fostering innovation within the state. She noted that NSW is home to some of the nation’s leading space businesses that are at the forefront of innovation and entrepreneurship. The NSW Space+ Programme is seen as a catalyst for accelerating the development of space capabilities pioneered by the state’s brightest minds.
The global space economy is on a trajectory of significant growth, with forecasts predicting it will reach US$1.8 trillion by 2035. The Asia Pacific region, in particular, is poised to capture a substantial share of this growth. The upcoming IAC 2025 will be a crucial event to showcase the capabilities of NSW space businesses to a global audience, setting the stage for essential discussions on sustainable space activities.
The CEO of SmartSat CRC expressed enthusiasm about extending their partnership with the NSW Government through the NSW Space+ Programme. He highlighted that this initiative is perfectly aligned with SmartSat CRC’s mission to foster strategic partnerships and drive the commercialisation of innovative space technologies. The programme is expected to significantly enhance the capabilities of NSW businesses in the space industry, ultimately benefiting the social, economic, and environmental landscape of NSW.
The NSW Space+ Programme represents a concerted effort to elevate the state’s space industry on a global stage, demonstrating the high calibre of innovation and technological advancement present within NSW. By providing financial support and fostering collaborations, the programme aims to position NSW as a leader in the rapidly growing global space market, ensuring that the state’s businesses are well-equipped to contribute to and benefit from the dynamic and expanding space economy.
The global SpaceTech market was valued at US$420.2 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 7.5% from 2023 to 2030. This growth is fuelled by technological advancements, increased private sector involvement, and expanding government initiatives.
The SpaceTech sector includes a broad range of activities such as satellite manufacturing and operations, launch services, space exploration, and the development of cutting-edge space-related technologies. Significant growth has been observed due to rapid advancements in satellite technology, which is crucial for telecommunications, navigation, weather forecasting, and Earth observation. The deployment of communication satellites has surged, driven by the growing demand for high-speed internet connectivity.
