South Australia has issued a global call for experts in developing space businesses, with a November 10 deadline for proposals on how they would run State-instigated industry accelerator and/or incubator programs funded under the new South Australian Space Innovation Fund.
The newly created South Australian Space Industry Centre (SASIC) has issued the request for proposals as part of a three-pronged strategy that will also include space skills training scholarships as part of a program funded at one million dollars per year for the next four years.
Under the space incubator program early-stage businesses will receive practical assistance with business advice, market research, networking and business plan preparation. The space accelerator program will help early-stage tech companies develop their technology, build channels to market and pitch for investment through a global network of mentors, investors and corporate partners.
An amount of $900,000 per year has been allocated to the Space Incubation and Space Accelerator programs, including grants to accelerator participants.
And the State is moving quickly, with proposal applications closing on November 10 and negotiations expected to start with shortlisted applicants on November 22. By February 12 SASIC expects to open applications for start-ups and entrepreneurs hoping to participate in the accelerator and incubator programs.
SASIC’s proposal documents state that while a SA presence would be viewed favourably, organisations from around Australia and overseas are invited to apply. The ideal applicant will have demonstrated experience in running business incubation and/or accelerator programs in high-growth, technology-enabled businesses, and also demonstrate extensive networks of experienced, expert mentors and connections with relevant investors and corporate partners.
SA Defence and Space Industries Minister Martin Hamilton-Smith said the global call demonstrated how serious the state was about creating a thriving space ecosystem.
“This is a unique opportunity for suitably qualified organisations to play a key role in developing start-up and early stage businesses and turning them into high growth commercial ventures,” Hamilton-Smith said.
The space industry in Australia employs about 11,500 people and generates four billion dollars a year in turnover; less than one per cent of the global industry.
In September, Defence SA released a report in to the economic benefit of growing the local space industry, which found that if Australia could replicate the performance of the UK space economy in its first eight years after establishing a national space agency in 2010, it could generate 11,700 jobs and an additional $5.3 billion annually, a 132 per cent improvement on current figures.
This would take the annual turnover of the industry in Australia from four billion dollars this year to $9.3 billion in 2025 and the number of people working in the industry from 11,500 to 23,198.
Potential applicants are invited to enquire or apply at spaceoffice@sa.gov.au.