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Scotland’s space sector set to take off with new investment partnership
Ross Hamilton and Andy Campbell (image credit: Stewart Attwood)
The Scottish Space Network (SSN) has formed a strategic partnership with New York-based Sustainable Alpha to unlock investment for the Scottish, UK and international space sectors.
The collaboration will focus on identifying the financing needs of the fast-growing industry and developing a comprehensive investment strategy. It will also seek to secure opportunities for the global investment community to invest in early-stage and scaling space technology companies.
The overall aim of the initiative is to ensure Scotland achieves its potential to offer a complete end-to-end service, unlocking alliances and new markets. The partnership will also provide business support to early-stage space startups, helping to establish companies that can deliver long-term growth, scale and economic and social impact, while adding training and skills development to bring more talent into the space industry. .
The Scottish space sector is expected to grow substantially, with revenues projected to reach £4 billion over the next six years and the creation of more than 12,000 new jobs by 2030, taking the number of national employees to approximately 20,000.
Dr. Andy CampbellFounder of SSN, stated: “This partnership marks a significant milestone in our mission to position Scotland as a global leader in space innovation and finance.
“By combining our in-depth knowledge of the local space ecosystem with Sustainable Alpha’s extensive investment network and venture capital expertise, we are committed to securing investment solutions that will drive technological advancements and economic growth in the sector in Scotland and beyond. global.”
ross hamiltonfounder of Sustainable Alpha, said: “We are excited to collaborate with the Scottish Space Network to generate investment opportunities for the Scottish space sector.
“The global space supply chain is evolving and innovating rapidly, so it is imperative that we look across the UK, Europe and internationally to understand best-in-class solutions and where Scottish companies can be world-class leaders in the global ecosystem.”
Recent activity in the Scottish technology sector indicates substantial growth in venture capital investment, underlining the country’s attractiveness to investors. Scotland has also been recognized as one of the world’s top locations for investment in the space industry due to comparatively low set-up costs, its skilled workforce and world-class universities contributing to cutting-edge research and innovation.
Illustrating the range of recent investments made in Scottish space technology startups and scale-ups, in April 2024, UK rocket manufacturer Orbex, based in Forres, Moray, secured £16.7 million in Series C funding from six financiers including the Scottish National Investment Bank. Additionally, Edinburgh-based Aurora Avionics has received over £320,000 in investment from Gabriel Investment Syndicate and Scottish Enterprise in May 2024.
Hamilton added: “Published in 2021, the Scottish Government’s Global Capital Investment Plan is already building links with financial centers across the world, further solidifying Scotland’s position in the international space economy.”
Campbell added: “The partnership is the first of several important collaborations that the Scottish Space Network will announce to boost support for the sector.
“We invite Scottish companies that are in or looking to enter the space sector to share their future investment needs with us, allowing us to tailor our support and effectively meet the needs of the sector.”