British tech companies took home four out of nine awards at Deloitte’s GRAVITY challenge competition in a sign the space sector is thriving post-Brexit.
UK companies including Helyx, Little Place Labs, Seanasol Consortium and Treeconomy, three of which are London-based firms, proposed winning solutions to challenges posed by global brands addressing key industrial, social and environmental problems. Deloitte will help to fund the roll out of tech solutions proposed by category winners.
Scott Campbell, partner in Deloitte Ventures, called the results a “testament to the strength and excellence of the country’s space technology industry.”
Campbell added: “UK innovators delivering these kind of world-leading solutions will have a significant impact on the local economy and wider society, creating new jobs across the UK, while at the same time addressing some of the world’s most pressing challenges.”
It comes after Boris Johnson last month announced plans to turn “Global Britain” into “Galactic Britain” under the new National Space Strategy. The report stressed the importance of the UK space sector to the economy, pointing out that the industry contributes over $16.4bn to GDP per year and employs over 45,000 people.
“The days of the UK space industry idling on the launch pad are over,” said the Prime Minister, setting a target for total R&D spending to constitute 2.4 per cent of GDP by 2027.