01 February 2010
The space industry, more so than most others, suffers from significant barriers to entry for businesses. New space technologies can take years, sometimes decades, before achieving the required 'Technology Readiness Level' (TRL), and this can put too much pressure on the innovative small business to reach the required revenue levels before their investment runs out.
Furthermore, in Europe, the European Space Agency will often determine the direction and nature of the state funded technology developments for space; in most cases the decision on the relevance of the technology will be made a small number of individuals. These are necessary controls - this is public money after all - but history has shown that truly innovative ideas are often not recognised by the mainstream industry until they have matured and been proven. This leaves a gap in supporting groundbreaking, next generation ideas.
Many hope that the recently announced UK Space Agency will herald new funding and direction for the UK's involvement in space. This may take the form of a more purposeful voice within ESA, or even independent UK space missions. However, it is my belief that it is in the funding of space innovation, low TRL activities, that the UK Space Agency could play a vital role for the UK Space efforts and, in particular, our space SMEs.
The UK Space Agency has an opportunity to support the type of ideas that would not normally be supported by the larger, more institutionalised space agencies. The UK Space Agency can take a broader view of where space technology is today, the competence areas within the UK industry and then assess where space technology could be in the future and support this technology development. Furthermore, if the UK Space Agency takes the view that not all of these ideas will bear fruit, this will stimulate innovation far more than backing only the sure winners or the immediate space technology needs.
By the UK Space Agency playing a role in filling in the TRL funding gap, we could expect to see more space industry activity in the UK, more highly skilled jobs being created and, ultimately, the UK playing a greater role in the international space efforts in the future through the export of new technologies. No pressure UK Space Agency, but we are expecting great things from you guys...