NSW launches $500,000 in grants for space tech

The global space economy is expected to be worth forecast to be worth $2.7 trillion with a decade, so the NSW government has decided to get in on the action with $500,000 in grant funding.

The new NSW Space+ Program grants have been launched ahead of an estimated 10,000 delegates heading to Sydney in September 2025 for the International Astronautical Congress (IAC).

The grants program will offer between one and two bids up to $500,000 in total funding at a minimum of $250,000 per grant.

Investment NSW has a big focus on collaboration through strategic partnerships for the grants and consortium bids “are highly encouraged”.

They’ll be looking for ideas that demonstrate strength and relevance of national and international partnerships and an ability to leverage them to achieve scalability and growth. Maximising the involvement of NSW space industry and building international awareness of local capabilities are also high on the criteria list

The grant program will be administered by the Adelaide-based space research centre SmartSat CRC.

Investment NSW Deputy Secretary, Katie Knight said the NSW Space+ Program will help position NSW and Australia as leaders in the global space market.

“The global space economy is experiencing significant growth – it’s a sector forecast to reach USD $1.8 trillion in 2035, with the Asia Pacific poised to capture a significant share of this uplift,” she said.

“IAC 2025 will be a significant opportunity to highlight the capabilities of NSW space businesses to a global audience – this event is the oldest and largest space congress in the world. It will set the stage for important discussions around sustainable space activities.”

The proposal submission deadline is Friday, 30 August, 2024, with a decision on the grant recipients expected by the end of September. The project are expected to kick off in November, to be completed in 11 months.

Applications are open via the SmartSat CRC. For more details see smartsatcrc.com/key-initiatives/new-south-wales-node/space-program.