SBRI: Unlocking Space for Business Feasibility Study - Phase 1

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        "description": "This is a Small Business Research initiative (SBRI) competition funded by the UK Space Agency A total of up to PS2 million, inclusive of VAT, is allocated to this competition/phase 1. The Phase 1 feasibility study research and development (R&D) contracts will be up to PS200,000, inclusive of VAT, for each project for up to 6 months. We expect to fund up to 10 projects. with successful projects beginning in January 2024. Unlocking Space for Business (USB) is a new programme being delivered by the UK Space Agency to support businesses in the Financial Services and Transport & Logistics sectors to: * Better understand and prioritise how innovations in satellite data and services, combined with complementary data sources, can drive businesses benefits; * Connect with leading data suppliers, aggregators, technology integrators and insight providers; * Apply for Government funding to support the delivery of benefits from satellite data and services, through pilot projects, data procurement or partnerships. Satellite data and services already underpin over 17% of UK GDP, with innovation continuing to unlock new opportunities for business. Harnessing satellite data and services with complementary data sources can unlock new opportunities for businesses, from revenue growth and operational efficiencies to customer experiences and environmental, social and governance (ESG) benefits. Unlocking Space for Business is now launching a Small Business Research Initiative (SBRI) competition, offering eligible organisations the chance to apply for a share of up to PS2 million, inclusive of VAT,in an initial phase 1 competition to develop commercially viable innovative feasibility studies, that aim to combine terrestrial technologies with satellite data and services, to be adopted by customers in the Transport & Logistics and Financial Services sectors. Projects will involve one or more of the three types of commercial satellite data and services: * satellite imagery (earth observation) * satellite connectivity & communications * position, navigation & timing (PNT) Projects will focus on, prioritising: * new revenue growth opportunities * improved customer experiences * operational efficiencies * environmental, social and governance (ESG) benefits Applications are encouraged from organisations that can combine terrestrial data and services - such as AI, Quantum, machine learning and geospatial data - with satellite data and services, can provide analysis to derive value-added insights, to develop innovative solutions to customers in the UK Transport & Logistics and the Financial Services sectors. Website: https://www.gov.uk/government/publications/unlocking-space-for-business Additional information: An supplier engagement event will be hosted by UK Space Agency on 30th November, with the aim of informing potential suppliers about the proposed Unlocking Space for Business Programme competition, including its scope, application process, evaluation criteria and timelines. The event will provide an opportunity for potential applicants to ask questions about the competition. UKSA encourages attendance from potential applicants that can combine terrestrial data and services with satellite data and services, within the Transport & Logistics and/or Financial Services sectors. To attend the event and to hear more about upcoming activities, please register via the following link: https://events.teams.microsoft.com/event/97e02d22-eb3e-479f-a958-f41352a35c47@cbac7005-02c1-43eb-b497-e6492d1b2dd8 If you can not attend a recording will be made available after the event to everyone that registered on the above link. The Unlocking Space for Business Programme held and Early Engagement Webinar for this opportunity which is available at : https://www.youtube.com/watch?v=2sLu07OclIM",
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            "description": "There is an emerging market for measuring, monitoring and paying for Biodiversity net gain (BNG) in the UK. Biodiversity units have a statutory definition, but there is scope for interpretation in classifications and application of methodology. Scope for bad actors, costly search and selection and high costs of BNG verification, alongside long-term monitoring requirements and risks to delivery over the 30-year lifetime of BNG projects, create poor incentives to ensure promises are carried out, raise challenges to growing the market and trusting outcomes. Nevertheless, the UK BNG emerging market is an early forerunner of likely developments globally, offering the opportunity for UK participants to become front runners in global markets. Application of satellite data offers scope for partial to complete verification and validation of BNG at scale and low cost - with trade-offs between resolution and cost. Application providers relying on the few open or paid satellite data sources must differentiate themselves in terms of proprietary data processing and application algorithms which they are reluctant to expose to scrutiny. Application consumers (financial actors, market participants) face search, validation and selection costs to engender trust in their potential contribution to measurement and monitoring of BNG. This grant enables SafeEarthSolutions Ltd to specify, prototype and test an independent system for the validation and verification of Statutory Biodiversity Unit measurement using satellite data. The system will engender trust and confidence in the use of satellite data amongst end users (financial actors and market participants) at low cost, while satellite data providers will be spared the risk of their IP being exposed during due diligence, enabling a greater role for satellite data in the new market for biodiversity net gain. As such our proposal offers an immense boost to unlocking space data applications in the UK and soon to be global market of Biodiversity Net Gain",
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            "description": "The world needs a massive increase in investment in nature in order to mitigate the climate and biodiversity crises. Although banks, large corporations, and asset managers have already allocated billions of dollars for nature investment, this must be increased significantly and quickly if we are to meet a 1.5oC warming target and prevent the extinction of an estimated million species at risk. Investors need high-quality nature data to help them identify opportunities, undertake due diligence, structure deals, and meet risk reporting requirements. However, in practice nature is an emerging asset class, and is poorly supported with data and analytics compared with established investment classes. This is especially the case in tropical developing countries, which have huge potential to develop nature investments, but where regulatory regimes, infrastructure, and expertise are limited. These factors are among those that have hindered the acceleration of investment in nature-based solutions, to the detriment of the environment. Space Intelligence is at the forefront of nature data generation, intersecting AI, satellite data analytics, and ecology, and providing high-integrity maps and analysis across the world. We count some of the world's largest companies as our clients, supporting them to invest in nature with confidence. We are now making our expertise and data products accessible to the financial services industry, supporting a wave of new investment in nature. In a combined qualitative and quantitative project, we will first critically engage with banks and asset managers to understand their due diligence, risk management, and transaction processes in depth, identifying the gaps that hinder investment in nature assets. Second, we will use these insights to co-create a new interpretative algorithm to ingest satellite-derived data sets, and to automatically produce the data and analysis that the financial services sector needs for the investment decision-making process, and which can be incorporated into their existing technology stacks. We will scale and commercialise this technology with selected partners to significantly increase our engagement with the financial services sector, bringing satellite data analytics to finance decision-makers, opening a new market for space technology. This will provide significant commercial opportunities for our fast-scaling business, generating new stable revenue, creating jobs and supporting UK Plc.",
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            "description": "The project focuses on producing an online software tool that enables financial institutions to more confidently and transparently invest in nature. Investment in nature has doubled to $12.7B in 2023 compared to $8B in 2022 through markets such as the voluntary carbon market (VCM) as well as timber and agriculture. These forms of investments are new to many investors and funds who lack the in-house technical capabilities to perform necessary financial and environmental due diligence. Recent news revealing the poor financial and environmental performance of many natural capital assets within the VCM highlights a need for good quality analytics to enable and encourage financial institutions to invest in nature. To address this dearth in technical capability and analytics Treeconomy proposes using satellite imagery and measurements to construct a holistic overview of potential natural capital assets to inform investors' decision making process. Using satellites greatly reduces the cost and time taken to perform due diligence compared to the current standard of outsourcing expensive and lengthy in field surveying. To further reduce the technical barrier to entry Treeconomy will build this functionality into our existing natural capital and carbon monitoring platform 'Sherwood' enabling customers to perform their due diligence at the click of a button. This will allow an investor to quickly understand any potential liabilities and opportunities and enable faster nature positive investment. Building upon satellite-based due diligence checks we further propose a solution which addresses the current scale and accuracy limitations in monitoring carbon sequestration within natural capital assets. Knowing the sequestered carbon within a site is important in determining potential financial opportunities and is often undertaken after an initial due diligence check. Using modern machine learning models in conjunction with terrestrial, drone and satellite data we will quantify the carbon stored within a site by upscaling the satellite data to provide a richer and more accurate understanding of the carbon on the ground. Providing quick and effective satellite-based checks for nature based investments will greatly boost nature investments, resultantly providing incalculable benefits to the environment and society.",
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