Space Florida and UK Trade & Investment Group Team Up to Develop Bilateral Commercial Space Opportunities

July 22, 2010 at 9:03 am | Posted in Space Law | Leave a comment

by P.J. Blount with the blog faculty

Source – Space Florida:

SPACE FLORIDA AND UK TRADE & INVESTMENT GROUP TEAM UP TO DEVELOP BILATERAL COMMERCIAL SPACE OPPORTUNITIES
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Written by Administrator | 21 July 2010

MIAMI (July 21, 2010) – This morning Space Florida and UK Trade & Investment signed a formal Memorandum of Understanding that will facilitate beneficial commercial space opportunities between the State of Florida and the UK’s aerospace and commercial space industries. This is the first commercial MOU between Space Florida and a sovereign government and a further practical example of the close UK-US trade relationship.

The MOU between Space Florida—the organization designed to grow Florida’s aerospace industry—and UK Trade & Investment (UKTI)—the British government division that helps UK-based companies suceed internationally and brings high-quality investment to the UK—seeks to advance Florida and the UK’s growing commercial space sectors by establishing a conduit to pursue business opportunities in both markets.

Specifically, Space Florida and UKTI will identify and share commercial and partnership opportunities of interest to Space Florida and UKTI constituencies, and make introductions or arrange networking opportunities with potential strategic partners and investors that might benefit from such collaboration, among other commitments.

“Strategic, international partnerships are critical to the viability and growth of future U.S. commercial space programs,” noted Space Florida President Frank DiBello. “Today’s event marks a significant step forward toward ensuring Florida’s numerous space assets – both physical and intellectual – are leveraged by the global space marketplace.”

Director-General, Trade & Investment USA, Sir Alan Collins said: “The commercial space industry is a major growth opportunity for the UK. Since 2009 the UK has been ramping up its space industry activities opening the European Space Agency’s R&D facility at Harwell, establishing the UK Space Agency and forming the Space Leadership Council. With a goal to grow Britain’s share of the world space market from 6% to 10% over the next 20 years, collaboration and partnerships such as this are crucial to the UK’s achieving its ambitions. For Florida’s space industry companies, the UK is the natural partner of choice with whom to explore R&D opporunities globally as it offers a springboard into the European markets and the world.”

Space exploration currently represents an $8 billion industry in Florida, with more than 2,000 related companies and a 65,000+ person workforce. Florida currently captures 3% of the global space marketplace and, through State organizations like Space Florida, is positioning itself to gain a much broader share of international commercial space business. No other region of the world has the aerospace infrastructure and talent or prime geographic positioning to deliver what Florida can.

The UK’s commercial space industry is similarly poised for robust growth. Britain currently has a 6% share of the global space market, but the sector is growing by an average of 9% per year, and the UK already leads the world in satellite manufacturing and space applications. The industry as a whole is worth around £7 billion to the economy. Additionally, the UK is a world leader in innovation, ranking second only to the USA for the quality of its research base, and is the number one gateway to Europe for US companies overseas, giving easy access to the 27 member states of the European Union from within one of th world’s most stable political environments.