en.Wedoany.com Reported - The UK government has announced an additional investment of £62 million (approximately $83.4 million) to support the development of its space industry. The funds will be primarily allocated to the development of satellite communication systems and space innovation projects, aiming to transform early-stage technological concepts into commercial products, enhance the country's ability to monitor and protect assets in orbit, and build a more resilient domestic space industry.

According to the funding allocation plan announced on Monday, £42 million (approximately $56.5 million) will be used to develop next-generation UK satellite communication technology, while the remaining £20 million (approximately $26.9 million) will fund space innovation projects from industry and universities. The former is part of the third round of funding under the Connectivity for Low Earth Orbit (C-LEO) program, open to UK businesses, universities, and research institutions. Projects must focus on areas such as on-board processing, active antennas, optical links, networking and routing, or user terminals. This is additional funding beyond the C-LEO grants already announced in March.

Data from the UK Space Agency (UKSA) shows that an accelerator program designed to help startups grow has supported 289 founders and helped them raise over £102 million (approximately $137.2 million) in investment. UK Space Minister Liz Lloyd stated in a statement that this funding will help develop satellite communication technology to connect people in remote areas (including maritime workers and air travelers), capture the growing market for in-orbit manufactured products, and strengthen the country's ability to monitor and protect assets in orbit. She noted that strengthening domestic capabilities in key areas while cooperating with international partners will help ensure the UK remains secure, resilient, and a leader on the global space stage.