The Andrews Labor Government is backing the next generation of space entrepreneurs to develop innovative solutions and technology for the space industry.
Minister for Industry and Employment Ben Carroll today announced $100,000 for Moonshot – a Victorian-based accelerator focused on helping grow the global space innovation ecosystem.
The funding will support a space innovation boot camp ‘T Minus’, which is part of the NASA International Space Apps Challenge, a global hackathon that occurs over 48 hours in cities around the world.
Participants in the boot camp will spend two days working together and competing to hack together solutions to high-impact problems.
Moonshot will facilitate workshops throughout the event to help participants get their solutions into shape for commercial development.
The grant will also support a number of early stage start-ups to undertake an eight-week program to help them transform into functional businesses to create jobs and economic growth for Victoria.
Moonshot is part of Victoria’s space industry, which includes world-class research and development centres and advanced manufacturing expertise with significant space-related science and technology companies.
The Labor Government released its proposal for the Australian Space Agency, Victoria: The Place for Space, last month which shows Victoria’s space industry employs 2,300 people and generates $400 million in revenue.
The global space industry is forecast to be worth more than $1 trillion by 2040 with Victoria ideally placed to capture a significant share of this market – creating thousands of new jobs.
Victoria: The Place for Space can be viewed at www.economicdevelopment.vic.gov.au
As noted by Minister for Industry and Employment Ben Carroll
“Victoria is a world leader in the space industry and we’re making sure emerging companies have the chance to thrive – creating new jobs and boosting our economy.”
“This funding will mean Victorian space entrepreneurs can work with Moonshot to grow and participate in global events like the NASA International Space Apps Challenge.”
As noted by Victoria’s Lead Scientist Dr Amanda Caples
“Moonshot is a valued partner in Victoria’s space ecosystem and the accelerator program will provide a pathway for our engineering graduates to participate in one of the most exciting emerging global markets.”