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Image Credit: Cicada Innovations

National Space Industry Hub launched in Sydney for space entrepreneurs

A National Space Industry Hub has been launched in Sydney with support from the NSW Government and Deep Tech incubator Cicada Innovations.

The Hub will support world-class research, innovation, collaboration, and commercialisation in the growing space sector and serve as a home and base camp for developing Australian space tech businesses.

Cicada Innovations will deliver it, and it will provide personalised support, a physical laboratory and a workspace with cutting-edge facilities, resources, mentoring, coaching, and commercialisation training programs for space entrepreneurs, budding space companies, and researchers across Australia.

Some of the Hub’s nationally-delivered programs will include:

  • A free online course for researchers, engineers, and aspiring entrepreneurs interested in learning how to commercialise space technology
  • A free and hybrid workshop series for a cohort of academics and entrepreneurs eager to test and validate their space tech idea with peers and experts 
  • A free bespoke six-month coaching program for space entrepreneurs looking to accelerate their space venture

The Hub will also work closely with other space actors in NSW, such as the NSW Space Research Network, the SmartSat Cooperative Research Centre, the Space Industry Association of Australia, the University of Technology Sydney Tech Lab, the University of New South Wales, ANU InSpace, and the University of Sydney. 

These agreements will provide residents and participants with unparalleled access to research and networking opportunities essential to commercialisation.

Stuart Ayres, Minister for Enterprise, Investment, and Trade, stated that Cicada Innovations has a long and proven track record of establishing deep tech ventures that address some of the world’s most pressing problems.

“It made sense to choose Cicada Innovations as our delivery partner for such a critical program, with the space industry only increasing in national importance each year given how many businesses it impacts globally.

“The National Space Industry Hub will be an important hub for businesses both directly involved in the space sector and the businesses downstream that the space sector relies upon. 

“It will allow us to harness Australia’s well-established research infrastructure, world-class universities, and an abundance of local innovators who are busy researching, developing, and commercialising space technology.” 

Sally-Ann Williams, CEO of Cicada Innovations, said that Cicada Innovations is already the best place in Australia to build a deep tech business, and now it will be one of the best places to build a space tech company.

“Our track record in hardware, software, prototyping, and manufacturing also combines with our unique multi-sector approach that connects founders from across different deep tech verticals to discover entirely novel ways of solving big-picture problems.

“Our community is a melting pot for entrepreneurs, scientists, businesses, and industry. By connecting entrepreneurs, policymakers and researchers, we can help make Australia a leader in space innovation while developing the advanced science that will create a more sustainable and prosperous future.”

The National Space Industry Hub was launched on 10 February 2022 at Cicada Innovations in the Australian Technology Park at Eveleigh. 

Australia’s $5 billion worth space industry

When space exploration first started, missions were predominantly government-led. However, many NewSpace companies have started building and operating hardware in space, while others leverage the data and services available.

Already in 2020, many multi-national businesses from sectors including agriculture, financial services, government and logistics are investing in the space sector and understanding how it can add value to their businesses on Earth.

According to the KPMG data, by 2030, Australia’s space industry is likely to grow considerably. The space industry is forecast to be worth US$600 billion by 2030, with secondary space industries having the most to gain.

According to Mike Kalms, Partner-in-Charge, Space & Defence Industry, KPMG Australia, most space enterprises will be worth billions of dollars and operate in many nations. Global levels of cooperation will aid in the strengthening of economic and political links between nations.

“Already many multi-national businesses are investing in the space sector and understanding how it can add value to their business on Earth. By 2030 we expect many businesses across all industries to have dedicated space teams and resources,” he said. 

For more information: www.cicadainnovations.com/national-space-industry-hub

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Yajush Gupta

Yajush Gupta

Yajush is a journalist at Dynamic Business. He previously worked with Reuters as a business correspondent and holds a postgrad degree in print journalism.

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