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  • Satellite Evolution

Giant Leap for Space Industry R&D financing in NSW

The NSW Space Research Network (SRN) will fund seven projects through its first Research Pilot Program, with two additional projects receiving seed funding.

Minister for Science, Innovation and Technology Alister Henskens said NSW already has an incredible depth of talent in the space industry and this investment will accelerate local R&D opportunities.

“With many industries looking to increase their output and improve efficiency through space-enabled technologies, the value of the global space sector is forecast to reach more than US$1 trillion by 2040,” Mr Henskens said.

“Collaboration between government, industry and our universities is essential to successful commercialisation of our world-leading research. This investment is another example of our commitment to turbocharging local R&D opportunities so that our State remains at the forefront of this innovative and rapidly growing industry.” The SRN is a university-led initiative, funded by the NSW Government, designed to enhance the local space industry through collaboration with government and academic research institutions.

NSW Chief Scientist & Engineer Professor Hugh Durrant-Whyte said the SRN was at the forefront of NSW’s push to play a significant role in the global space industry. “NSW boasts world-leading space R&D, and is home to the largest concentration of space-related activity in Australia, with more than 40 per cent of the country’s space businesses and more than a third of its space startups,” Professor Durrant-Whyte said. SRN co-director Professor Stefan Williams from The University of Sydney said the Network will develop and support a comprehensive strategy to grow space research and industry capacity within NSW.

“This will be achieved through a focus on supporting collaborative projects, knowledge exchange, educational opportunities, and community outreach,” Prof. Williams said.


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