South Australia is putting out the call to startup incubators and accelerators to establish themselves in the state to build startups with expertise in space science, training and technology — and has earmarked $4 million in a space innovation fund over the next four years.
SA wants to be the hub for Australia’s space ambitions, establishing the South Australia Space Industry Centre last month to encourage research and innovation. And now it’s throwing its weight behind a state government push to draw in startups from around the world.
Any successful applicants would manage the Space Innovation Fund‘s separate accelerator and incubator at a $900,000 yearly allocation from the SA government, while the fund also includes $100,000 yearly for space scholarships.
Startup accelerators and incubators are similar, but help at different stages in a startup’s early life. From the SA government: “The Space Incubator Program will support entrepreneurs and technical founders looking to turn their ideas into reality, while the Space Accelerator Program would be open to early stage, space technology start-ups seeking to rapidly grow their business and attract investment.”
The accelerators and incubators had better be scrappy, though: no official breakdown of the yearly $900,000 is proposed, but “it is envisaged the leveraging of existing resources will be a competitive advantage”. Get thee to space on a wing and a prayer, then.
SASIC’s decision on the tender should be made before Christmas, and applications close on November 10. [SASIC]