Space sector ‘first’ for investment in Scotland

A strategic partnership has been unveiled to help funnel more international investment into Scotland’s growing space sector.

The Scottish Space Network has formed a collaboration with New York advisory firm Sustainable Alpha to secure opportunities for the global investment community to back early-stage space technology businesses in this country and further afield. In what is said to be a first for the Scottish sector, the collaboration will initially focus on funding needs within the industry and development of a comprehensive investment strategy.

The announcement follows the news in April that Moray rocket company Orbex secured £16.7 million in follow-on funding to complete work on its Prime microlaunch vehicle and its spaceport that is under construction in Sutherland. Last month, Edinburgh-based Aurora Avionics received more than £320,000 for further development of its “off the shelf” electronic navigation system to help bring down the cost of getting rockets to their intended destination.

READ MORE: Orbex lands multi-million funding for Scottish rocket technology

Andy Campbell, who founded the Scottish Space Network in 2022, said the partnership with Sustainable Alpha will be the first of several “key collaborations” to drive support for the sector. He is also asking companies to share their future investment requirements to help the network tailor its support for the industry.

“This partnership marks a significant milestone in our mission to position Scotland as a global leader in space innovation and funding,” he said.

“By combining our deep understanding of the local space ecosystem with Sustainable Alpha’s extensive investment network and expertise in venture capital, we are committed to securing investment solutions that will drive technological advancements and economic growth in the sector in Scotland and globally.”

READ MORE: Scotland’s space sector gets ready to bring the noise as liftoff approaches

The Scottish space sector is expected to grow substantially with projected revenues of £4 billion within the next six years. This is predicted to lead to the creation of more than 12,000 new jobs by 2030, taking the national headcount to approximately 20,000.

“We are excited to collaborate with the Scottish Space Network to drive investment opportunities for the Scottish space sector,” said Ross Hamilton, founder of Sustainable Alpha.

“The global space supply chain is evolving and innovating quickly, so it’s imperative that we look across the UK, Europe and internationally to understand the best-in-class solutions and where Scottish companies can be world-class leaders in the global ecosystem.”