Reacting to the news that the UK Space Agency has awarded Business Durham, the economic development company for County Durham, funding to support small businesses as they tap into the lucrative space sector, Dr Simon Goon, Business Durham’s managing director, said:
“This is a fantastic investment to help support the North East’s smaller businesses as they tap into the flourishing UK space sector – an industry which is going to be worth £40bn by 2030. We can help businesses explore the huge potential of this global sector and elevate their ideas to the next level.”
The incubator will be based at the North East Technology Park, (NETPark) in Sedgefield, County Durham, and will build on the success of the North East Satellite Applications Centre of Excellence, one of only three in the country, which is based at NETPark.