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New space hub to open in Merchant City

New space hub to open in Merchant City

Glasgow City Council have secured funding for an all new space centre in Merchant City and will now receive a bigger share of the UK space industry.

The funding from the UK Space Agency will be used by the University of Strathclyde's Scottish Centre for Satellite Applications (SoXSA) and Glasgow City Council to create The Tontine, an innovation hub in the Merchant City.

Scotland will now have greater share of the UK’s space industry, which currently generates an annual turnover of £11bn.

The Tontine is being created with the aim of bringing young, successful companies from around the world to the innovation centre in Glasgow. The £1.13bn Glasgow City Region deal will be funding the hub, which is expected to generate £53.6m into the regional economy.

Councillor Frank McAveety, leader of Glasgow City Council, said: “I am thrilled by this news: it is another coup for The Tontine, which will provide a perfect environment for young and growing companies in the space sector.”

"Attracting such companies is great for the innovation clusters developing in Glasgow, underlining our growing status as a home for advanced industries and technologies, so critical to our long-term success.”

"This is a fantastic day for the city and our economy, and the result of the hard work of the council and our partners.”

Around 18 per cent of employment in the UK's space sector, approximately 7,000 jobs, are currently positioned in Scotland.

The development of the hub comes as part of a wider plan for Britain control 10 per cent of the global space market by 2030.

Jim McDonald, Principle of the University of Strathclyde said: “The investment from the UK Space Agency underlines the city of Glasgow's international reputation as a thriving hub for business in the space sector, which play a vital role in the growth and advancement of the industry globally.”

“As an entrepreneurial university and home to one of Europe's largest space engineering research groups, it's fitting that we work with Glasgow City Council to attract more innovative companies to the heart of our city – and Scotland's first innovation district.”

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