'We need new decisions made' Young people urged to get into Space at Birmingham event

Hosted by Richardson, an Oldbury-based international investment and property group, the event attracted an audience 100-strong to the University of Birmingham’s Exchange building, including recently Mayor Richard Parker, Shadow Science Minister and Meriden & Solihull MP Saqib Bhatti and former Dudley MP Lord Ian Austin.

A panel of industry experts highlighted the huge business potential, not from rockets but from the huge amount 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, sad: “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 here.

“We sponsor the Midland Aviation Alliance, which is the third most active space cluster in Europe. Their Pivot into Space programme has seen eight businesses receive government funding and three are being taken further by the European Space Agency. We need more programmes like that.”

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. She said: “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. He now heads Space4Sight, a space strategy consultancy. He called for greater capital investment to build the UK’s space industry; “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.”

BBC presenter and journalist Kathryn Stanczyszyn oversaw questions from the audience that ranged from security in space to the practicalities and costs of launching your own satellite – “You don’t need to,” said Andrew Turner. “You just need to draw down on the data that is already there. Someone’s already done it for you.”

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.”

Mark Garnier, MP for Wyre Forest and chair of the All-Party Parliamentary Space Group, said: “Around 2,500 businesses in the UK have a direct interest in space as a sector, which has twice the productivity of other parts of our economy. It really will take UK businesses to infinity and beyond.”