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Prosperity from Space: A British Success Story

May 15, 2018

The Space Growth Partnership (SGP) has published a Sector Strategy proposal for a Space Sector Deal. The new document, Prosperity from Space, sets out to Government the SGP’s vision for enhanced growth in the UK space sector over the next decade.

The SGP was set up to propose, agree and implement, on behalf of the UK’s Space Sector, a Sector Deal as part of the Government’s Industrial Strategy and comprises the space industry, academia, UK Space Agency, Satellite Applications Catapult, Innovate UK and the Department for International Trade.

The new strategy document outlines four pillars to bolster the sector’s ambitions and to drive success:

  1. Creation of a National Space Programme to unlock private investment
  2. Creating the right environment for success by securing and building on existing strengths/market position
  3. Investing in people and places
  4. Continuing to drive growth from the UK’s investment in ESA, Eumetsat and EU programmes

The space sector, worth £13.7bn to the UK, with 36% of revenue from exports, is currently growing at 8% a year and is at the cutting edge of exploring the universe and connecting people to the world around them.

Science Minister, Sam Gyimah, said:

“We want the UK to thrive in the commercial space age and have committed £150 million in our Industrial Strategy to help develop advanced rocket engines, test satellites and establish spaceports in the UK for the first time. The Government will continue to work closely with the space sector to build on our significant capability and maximise the benefits of space to life on Earth, creating jobs and opportunities across the country.”

Minister for Investment, Graham Stuart, added:

“Too few people are aware of the success and significance of the UK space sector or its vast potential for future growth. The Government welcomes this contribution from the UK space industry and is determined to support our emergence as a commercial space service hub with an increasing global market share backed by new partnerships in science and trade.”

Paul Britton, CEO of Thames Valley Chamber of Commerce, commented:

“I am delighted to welcome this new, industry-led proposal for a Space Sector Deal. The space industry has long been a key strength of the Thames Valley region, and I look forward to seeing further growth in this sector. Furthermore, I am pleased that the proposed strategy aims to inspire young people to take up STEM careers, thus benefitting all high-tech sectors, which are hugely important to this region.”

The Thames Valley is at the centre of the UK’s space industry and is particularly known for Harwell, the gateway to the sector in the UK and home to The European Space Agency (ESA) and its European Centre for Satellite Applications & Telecoms (ECSAT), STFC’s long-established RAL Space Centre and the Satellite Applications Catapult.

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The Chamber of Commerce

Paul Britton
Chief Executive

We work alongside the Department for International Trade (DIT), the region’s Local Enterprise Partnerships (LEPs), Local Authorities and professional service providers to support foreign direct investment (FDI) into the Thames Valley.

For the 2017/18 financial year, we are proud to report that the Thames Valley has retained its status as the number one region in the UK, outside of London, for attracting FDI. 191 FDI projects were recorded as entering the region, with a high proportion of these investors strongly supported by the Chamber.

Contact Paul Britton

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The Thames Valley Chamber is a proven centre of excellence for International Trade and Inward Investment support services. Our team provides practical support to help inbound and established businesses reach their potential. We are one of the largest Chambers accredited by the British Chambers of Commerce in the UK and the only accredited Chamber in the region.