Australia to establish its own government funded space agency

Australia is all set to launch its very own space agency. ABC reported that on May 8 during the announcement of Australia’s federal budget, the government will unveil its plans to seed fund Australian space agency. The government will put $50 million for the establishment and initial working of the agency but it is expecting the private sector to fund its further processing.

This bold move from the Australian government will assure advancements it aeronautics and astronomy industry adding thousands of jobs for its citizens

Former CSIRO boss Megan Clark, who has just completed a government review of the space sector, will head the new agency for its first year.

This budget will also have a focus on improving GPS technology which can be used for mapping, aviation, and broad-scale farming projects.

All this is a great opportunity for new Austrailian startups to spawn and help the government achieve success.

Space is predicted to be trillion dollar industry in next 3 decades with commercial tourism, asteroid mining, etc. Currently, NASA (USA’s space agency) is leading the charge in the space race and SpaceX also inspiring people with their ambitious plans. There are many other private and government space agencies like BlueOrigin, ISRO, Virgin Galactic, JAXA, ESA and many more.

Space being the area which is not explored yet, it’s great seeing government and private agencies taking initiatives towards it.

 

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