Space Innovation Fund
The South Australian Space Industry Centre will support the state’s emerging space industry by providing funding of up $1 million a year to grow jobs and build South Australia’s space ecosystem through the Space Innovation Fund.
The Fund is the first step in establishing a new space innovation hub in South Australia.
About the Fund
The fund will be used to identify and ultimately appoint an organisation to run an intensive program and deliver services for new space start-ups and early stage businesses from around the world to build specialist space related expertise.
The Space Innovation Fund will award $1 million a year, for four years, to support training scholarships, incubation services and an accelerator program.
- Space skills training scholarships
Young entrepreneurs and engineers will be given the opportunity to take their innovative concept to the next level. Up to five space skills training scholarships will be offered, with a maximum $20,000 for each scholarship per annum. Applications for the 2018 scholarship program have closed.
- Space Incubator Program, Venture Catalyst Space
Venture Catalyst Space is a six-month incubator program to develop and grow innovative ideas from entrepreneurs into early stage start-ups and businesses in the space sector. The University of South Australia's Innovation and Collaboration Centre, along with its global partners, are delivering the program, which includes a series of workshops, mentoring, and a stipend of $6,000 per company and the opportunity to pitch for a fully-funded overseas tour to United States or Europe to network with relevant space investors and companies. The program is designed as a precursor to the Space Accelerator Program. Applications for the 2018 program have closed.
- Space Accelerator Program
The Space Accelerator Program, delivered by the University of South Australia's Innovation and Collaboration Centre, supports early stage space-tech companies to rapidly develop their technology, build channels to market and pitch for investment by tapping into a global network of mentors, investors, and corporate partners, giving them access to some of the most advanced technologies and research.
In total, $900,000 per year has been allocated to the Space Incubation Program and the Space Accelerator Program, including grants to accelerator participants.