It is also hoped the fund – which is described as the UKSA’s first dedicated fund focused on the UK’s relationships with strategically important international partners – will catalyse further private investment
The recipients of the funding will be from industry, academia and research organisations. For example, to bring new services to market or support cutting-edge space-related research, says the agency.
Tranches
This first tranche of funding will support approximately 30 projects, with up to £75,000 each. This will be overseen by the UKSA in collaboration with the Science and Technology Facilities Council (STFC).
The idea is that these projects will “build relationships between UK organisations and international counterparts and stimulate knowledge exchange, engagement and collaboration”.
Successful phase one proposals will then potentially secure a second tranche of IBF funding, where up to £1.5 million will be available for a period of 12 months to catalyse “innovation across international partnerships”.
“This new fund will help unlock cross-border innovation, promote the exchange of knowledge, and strengthen the UK space sector’s relationships with strategic partners,” said Dr Paul Bate, chief executive of the agency.
A grant application form can be found here.