The Morrison Government is backing Australian space businesses to grow the economy and create new jobs, opening its $15 million program to help the local industry take on international space opportunities.

The International Space Investment initiative will provide $15 million over three years for strategic projects that will grow the national industry and boost collaboration with international space agencies.

Minister for Industry, Science and Technology Karen Andrews said the initiative would generate jobs and business opportunities for Australia’s space sector.

“Australia’s growing space industry will have significant economic impact in years to come, from increasing technological capability, strengthening the skilled workforce and increasing our export potential,” Minister Andrews said.

“The International Space Investment initiative will build the capacity of Australian space businesses, and demonstrate the sector’s ability to deliver products and services internationally.

“These grants are part of the Morrison Government’s goal to triple the size of the Australian space sector by 2030 to $12 billion and add an additional 20,000 jobs.”

Head of the Australian Space Agency Dr Megan Clark AC said the ISI initiative would help target gaps in the market to increase our competiveness on a global scale.

“Today we are launching the International Space Investment initiative program guidelines after consultations across the country. This framework will give industry the opportunity to prepare and submit applications to deliver products and services to international space agency programs directly, or indirectly through supply chains,” Dr Clark said.

The initiative forms a key element of the Australian Civil Space Strategy and will align with Australia’s National Civil Space Priorities, building on our strengths in areas of competitive advantage.

This funding is on top of the Prime Minister’s recent announcement of $150 million to help Australian businesses join the supply chains which will be created by NASA’s Moon to Mars program.

All up the Coalition has invested over $600 million into the space sector as part of our broader plan to grow the economy and create 1.25 million jobs over the next five years.

The International Space Investment initiative Expand Capability stream grants will open on 5 November through business.gov.au.

For more information on the ISI initiative visit space.gov.au

Media contact: Minister Andrews' office 02 6277 7070