PARLIAMENTARY WRITTEN QUESTION
Space Technology (4 May 2016)

Inward investment is a key pillar in the strategy to grow the UK’s share of the global space economy to £40 billion by 2030. Officials from UK Trade and Investment (UKTI) work with overseas commercial satellite operators using specialists through an existing network of inward investment teams in overseas posts, UKTI’s regional Investment Services Team, and local partners to support those wishing to come to the UK. They also work closely with officials in the UK Space Agency who provide advice on licensing and operating a spacecraft from the UK and access to competitive R&D funding either through national programmes, EU programmes or through our membership of the European Space Agency (ESA). The UK Space Agency and UKTI also support overseas satellite operators in their dealings with Ofcom, who are responsible for the allocation of the radio spectrum in the UK - a vital resource for new satellite business ventures. The Government will continue to work with companies to provide practical and tailored support to support their inward investment plans.