The Current Landscape: Challenges and Opportunities 

The UK space and satellites sector has seen remarkable growth, consistently outpacing the wider economy. However, the roundtable revealed that we are at a crucial juncture. While the industry boasts cutting-edge technology and world-class talent, it faces challenges in scaling up companies and fully capitalising on its potential. 

Participants highlighted the need for a cohesive strategy that brings together government, industry, academia, and investors. The discussion emphasised that space is not just about exploration; it's a critical infrastructure supporting telecommunications, environmental monitoring, and national security. 

Key Themes Emerging from the Roundtable 

1. Leveraging Academic Excellence 

The UK's world-renowned universities were identified as a key strength- and in fact the UK has a great record in spin-out businesses from universities. However, we can do even more- with suggestions including in training academics in productising their business ideas, and in allowing startups to have better access to university facilities, and to lean on university brands more. 

2. Scaling Up: From Startups to Global Players 

While the UK excels at creating innovative startups, scaling these companies into global players remains a challenge. The roundtable discussed strategies to improve access to finance, develop talent, and create a supportive ecosystem for growth-stage companies. 

3. International Collaboration and Market Access 

The global nature of the space and satellite industry was a recurring theme. Participants stressed the importance of international partnerships, both for technological collaboration and market access. There was particular interest in emerging markets, where UK expertise in areas like small satellites and debris avoidance could find significant opportunities. An industrial strategy could also draw on the immense strengths of the UK’s diplomatic network. 

The discussion was very wide-ranging and also discussed how the UK can best focus on strategic areas; on considering if there were places where the UK should *not* invest, in skill development, and in how best to communicate the specific skills and strengths of the UK’s brilliant space and satellites sector. We’ll talk more about those next week.  

The Way Forward 

The Space for Growth Roundtable came at a great time: the Government’s green paper has just been released, and they have asked for inputs as we enter a true consultation period. The PSC will be taking all the insights from the round table and submitting an ambitious, cross-sectoral response, in support of our belief that with the right strategy and investment, space and satellite technology can be a powerful driver of economic growth, job creation, and technological innovation. 

For a deeper dive into the opportunities and challenges facing the UK space and satellites sector, we invite you to read our comprehensive report, “Space for Growth: How the UK’s space and satellite sector can support the Growth mission". This in-depth analysis provides valuable insights and recommendations for policymakers, industry leaders, and anyone interested in the future of UK space and satellite innovation and economic growth.