Space Innovation Fund

In reply to Mr MALINAUSKAS (Croydon—Leader of the Opposition) (25 November 2020). (Estimates Committee A)

The Hon. S.S. MARSHALL (Dunstan—Premier): I have been advised:

The Space Innovation Fund, worth $1.0 million per year over four years, was established in 2018 to support activities designed to encourage entrepreneurs and start-up founders to seize commercial opportunities in the $330 billion a year global space industry. These activities comprise:

The South Australian Space Scholarship Program, which provides a total of $100,000 worth of scholarships to South Australian entrepreneurs and innovators each year, to study, intern or attend world-leading conferences. Since the establishment of the program in 2018, nine candidates have successfully received scholarships, enabling them to attend some of the world's largest space conferences and intern at prominent space agencies. The program for 2020 has been deferred to 2021, due to COVID-19 travel restrictions.

The Space Incubator Program, Venture Catalyst Space, delivered through the University of South Australia's Innovation and Collaboration Centre (ICC). This is a highly competitive six-month incubator program, which aims to develop and grow the innovative ideas of selected space companies. In 2018, five companies took part in the program, and in 2019, five companies, with each receiving funding (stipend up to $10,000 per company), access to training and workshops, one-on-one mentorship, a modern co-working space and cutting-edge technical resources and tools. Applications for the 2020 program have been extended to 2021, due to COVID-19 travel restrictions.