West Midlands mayor Richard Parker, Shadow Science Minister and Meriden & Solihull MP Saqib Bhatti and former Dudley MP Lord Ian Austin were among those in attendance for the discussion at the University of Birmingham’s Exchange building.
Attendees included West Midlands mayor Richard Parker, Shadow Science Minister and Meriden & Solihull MP Saqib Bhatti and former Dudley MP Lord Ian Austin.
Hosted by Carl Richardson and his brothers Martyn and Lee, a panel of industry experts highlighted the business potential, not from rockets, but from the volume of data available from satellites and space technology.
Bogden Gogulan, CEO of NewSpace Capital, the world’s first private equity firm devoted to growth-stage space technology companies, said: “A big part of the UK economy is underpinned by space applications – 70 per cent to 90 per cent.
“It’s not just communications, satnavs and the weather. In agriculture the use of data from satellites can boost yields by 14 per cent up to 40 per cent.
“Around 80 per cent of activity in space is commercial, it’s a $600 billion industry that is only set to grow.”
Elizabeth Williams, head of law firm Gowling’s aviation, aerospace and defence sector, said: “I’m based in the Midlands and I’m really passionate about seeing the Midlands and the UK grow and thrive.
“I’m here because we’ve got a real opportunity, especially the Midlands, to do that, with our heritage and industry and fantastic universities and skills.”
She said the UK led the way in framing regulations and licensing regimes to cover operations in space, attracting companies to base themselves in this country.
Melissa Quinn runs Slingshot Aerospace, providing space data and analytics to its clients, but was previously founding director of the UK’s first spaceport, in Cornwall.
Spoke of its legacy of new skills and new space-based businesses, adding: “I want other young girls, other people from diverse backgrounds, to be able to join what is happening in space.
“Things are changing very quickly and we need different kinds of people to be at that table to decide what we’re doing out there. There’s so much opportunity, we can’t just let the same old people make the same old decisions; they are doing that at the moment and it’s time that changed.”
Andrew Turner had a 37-year RAF career as a combat helicopter pilot and later assistant chief of the Defence Staff.
Mr Turner, who now heads space strategy consultancy Space4Sight, called for greater capital investment to build the UK’s space industry, saying: “We need to set more ambitious targets, with space making up two per cent of GDP.
“When they think of space, most people think of astronauts and rockets but the vast majority of commercial space business is around data.
“And, from an investor’s point of view, there’s no risk in that. It’s where the pension funds should be distributing some of their £2.2 trillion of investments.”
Event MC Kathryn Stanczyszyn, the BBC presenter and journalist, oversaw questions from the audience that ranged from security in space to the practicalities and costs of launching your own satellite.
The event also received messages of support, including one from Astronomer Royal Lord Martin Rees, who said: “The space sector is strong and its future is surely bright.”
