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.
- Space Incubator Program
Support for entrepreneurs including business advice, market research, networking and business plan preparation to convert ideas into early stage businesses.
- Space Accelerator Program
Support for 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.
A global call for proposals from organisations to run the Space Accelerator Program and/or the Space Incubator Program has now closed.
Key dates are:
- 16 October 2017 – Request for proposals opened
- 10 November 2017 – Request for proposals closed
- 22 November 2017 – Short-listed applicant negotiations commence
- 12 February 2018 – Applications will open to startups and entrepreneurs to participate in the Space Accelerator and Incubator Programs
More detailed information about the Space Innovation Fund, including how to participate in the Space Accelerator and the Space Incubator Programs, will be available in the near future.