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£50k incubation fund to support space related developments

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The OpTIC Centre in St Asaph is encouraging businesses to apply for part of a £50,000 incubation fund secured from the UK Space Agency (UKSA). The cash is intended to support companies looking to enter the space sector.

OpTIC director Caroline Gray said those working in a range of industries should get in touch to find out how they could collaborate on future projects.

A bid was entered following calls from the UKSA as part of its Innovation and Growth Strategy: Space Growth Action Plan. The OpTIC proposal highlighted the need to grow space industries in UK regions by providing a supportive commercial environment to assist entrepreneurs to develop small companies.

“Securing this grant was testament to the hard work of everyone here,” she said. “We work closely with many different sectors, but many don’t see themselves as working in an industry that could connect to the space sector – which could not be further from the truth.

“The UKSA uses many supply chains, with companies operating in engineering design and manufacture, software design, energy management and more. I would urge companies in those areas to get in touch to see how we can work together.”