The Tasmanian Government has announced a new $500,000 initiative which will co-invest with businesses to adapt, extend or develop new technology and services for the space economy.
Launching in the first quarter of 2022, the Tasmanian Space Technology Seed Fund will provide two rounds of competitive, matched grant funding to eligible Tasmanian businesses, including start-ups.
Making the announcement, Tasmanian Minister for Science and Technology Michael Ferguson said the State Government is committed to supporting local businesses to explore and enter the fast-growing space economy, which is set to grow nationally to $12 billion and add 20,000 more jobs by 2030.
“Following the signing of an MOU with the Australian Space Agency in late 2019, the Tasmanian Liberal Government has strengthened our space research infrastructure capabilities in the fields of Space Domain Awareness, Space Medicine and Life Sciences, through key partnerships with business and academia,” the Minister noted.
“The next step in our plan will propel Tasmania’s industries into space by driving innovation, developing local space capabilities, increasing investment in R&D, and creating new STEM and highly skilled jobs.
“The Tasmanian Space Technology Seed Fund is yet another example of the Tasmanian Government backing local businesses to think big and be bold to grasp new and innovative opportunities for our future.”
According to Mr Ferguson, further details of the fund, including guidelines will be announced in the New Year.
