The plan aims to focus on dual-use capabilities and provide a pivotal gateway for start-ups and SMEs entering these sectors.
Opening in 2022, the National Space Industry Hub (NSIH), run by Cicada Innovations, is an incubator providing a co-working space and access to mentoring, resources, and networking opportunities.
“NSW has become a magnet for investment in space tech, and its initiatives like the National Space Industry Hub that are empowering entrepreneurs to solve real-world problems through space-enabled technologies,” Investment NSW Deputy Secretary Rebecca McPhee said.
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“We’re incredibly proud of the hub’s achievements over the last three years with resident businesses generating more than $72 million in commercial revenue and 160 jobs. The expansion of the hub’s services to defence and aerospace will ensure we can support more businesses to progress cutting-edge technology.
“We can’t wait to host the International Astronautical Congress in Sydney next year – the Olympics of the space industry – where we can showcase the hub’s achievements and demonstrate to the world how NSW and Australia is emerging as a global leader in space.”
Cicada said that since its creation, every dollar invested by the NSW government into the program has attracted 74 of the 82 NSIH-supported businesses.
It added those businesses have collectively raised more than $52 million in private capital, securing $4 million in grant funding and generating more than $72 million in revenue from more than 200 customers, all while creating 160 jobs.
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The NSIH program has also created three spin-outs and filed 16 patents across diverse products, while a number of residents and alumni were on the recent Waratah Seed 1 satellite: Deneb Space, Spiral Blue, Contactile, Extraterrestrial Power, EurokaPower, and Mawson Rovers.
“Australia has the capability and frameworks in place to deliver space operations to a global market. The expansion of the National Space Industry Hub into defence and aerospace will also drive innovation across a broad range of future-critical industries like quantum computing, cyber security, AI, autonomous systems, robotics, space technologies, and more,” Cicada Innovations chief executive officer Sally-Ann Williams said.
“These industries are vital to shoring up Australia’s economic resilience, national security, and technological advancement long into the future. They will also help us address the complex challenges posed by global geopolitical dynamics, technological disruption, and the increasing demand for sovereign capabilities.
“We look forward to working with the NSW government to build these strengths and deliver further impact for many more years to come.”
Adam Thorn
Adam is a journalist who has worked for more than 40 prestigious media brands in the UK and Australia. Since 2005, his varied career has included stints as a reporter, copy editor, feature writer and editor for publications as diverse as Fleet Street newspaper The Sunday Times, fashion bible Jones, media and marketing website Mumbrella as well as lifestyle magazines such as GQ, Woman’s Weekly, Men’s Health and Loaded. He joined Momentum Media in early 2020 and currently writes for Australian Aviation and World of Aviation.
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