iLAuNCH Accelerator to Fast-Track Seed Funding for Space Industry Innovations
Credit: ilaunch.space
The Australian space industry continues to advance with the announcement of an additional $1 million in funding for the iLAuNCH Trailblazer program. The program aims to promote innovation and industry collaboration in the space sector, providing pathways for early-stage commercialization activities, and showcasing world-class Australian research and capacity.
The newly-introduced iLAuNCH Accelerator will feature a Fast Track fund dedicated to providing seed funding for proof-of-concept demonstrator technologies. This fund will support the translation and commercialization of intellectual property, and offer pathways for early-stage commercialization activities in partnership with three leading universities; the University of Southern Queensland, the Australian National University, and the University of South Australia.
The Fast Track program aims to bridge the funding gap for effective proof-of-concept technologies, providing an opportunity for game-changers in the space industry to access funding of up to $100,000 per project. Successful applicants will have the chance to enroll in the iLAuNCH ON Prime program, which is run twice-yearly by CSIRO and provides space industry experts as mentors.
The launch of this accelerator program supports the growing enthusiasm for Australia's space industry, which has been demonstrated through recent agreements such as the Technology Safeguards Agreement between Australia and the United States. This agreement signaled a significant opportunity for the country's growing space industry, unlocking the potential for increased collaboration and future growth.
The iLAuNCH Accelerator offers an opportunity for emerging startups, entrepreneurs, and innovators in the space industry to receive the necessary funding and mentorship to bring their game-changing ideas to reality. The fund will provide a pathway to transform research and intellectual property into innovative commercial technologies that will help overcome national and international challenges in the space industry.
The announcement of the additional $1 million in funding was welcomed at the 17th Andy Thomas Australian Space Forum in Adelaide. It came as part of a broader initiative aimed at promoting industry collaboration, which aligns with the government's Trailblazer program that seeks to commercialize Australian R&D.
The first round of Fast Track applications is already open and will continue to be open until November 30, 2024. These applications will be assessed and selected based on their alignment with national and international space research priorities, potential to grow space research capabilities, meeting the future needs of the space industry, and partnering with iLAuNCH Trailblazer Universities.
In conclusion, the iLAuNCH Accelerator program marks a significant step in the advancement of Australia's space industry, injecting capital, mentorship, and resources to make space innovation a reality. This funding and mentorship offer an opportunity to grow the country's seed-stage entrepreneurs and bring forth new technologies and commercialization opportunities. It represents a positive development for the Australian space industry and provides a model for supporting innovation in other industries.
Original article: https://www.australianmanufacturing.com.au/ilaunch-accelerator-to-fast-track-seed-funding-for-space-industry-innovations/
