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New Space Digital Economy Innovation Center

Research project The project on the new digital space economy will utilizes opportunities of space data especially for the energy, forestry, marine and agriculture business domains. Space-based data enable various new services and may improve existing systems - it will bring added value to products and services and new revenue streams from involved businesses.

The “New Space Digital Economy Innovation Center” will implement a long-lasting regional economic development structure for space-based business and innovation, i.e. a Kvarken Space Center. The planned center’s primary objective is to support regional businesses to develop opportunities within the “new space economy” and commercialise existing space-based data. Factors have developed in the space industry that allow much less expensive processes to be implemented in space relative to the past. To aid the region in taking a stake in these new economic activities as well as available data and services, the center will assure that an understanding of the latest technologies is available, along with the capacity to implement them. The center will share knowledge and implement demonstration projects to bring the regional businesses to the level needed to independently manage their own space business activities. The center will work closely with regional education systems and development companies and will promote the necessary themes to build and sustain a workforce capable of advancing regional participation and value-creation in new space. In doing so, we will help provide the Kvarken region with options to actively participate in the developing space-based digital economy and create new business as well as make a global impact together. Projects are carried out together with the University of Vaasa (Lead partner), Novia University of Applied Sciences, Umeå University; Luleå University of Technology, MUOVA University of Applied Sciences, Åbo Akademi University, Hanken School of Economics, Swedish Institute of Space Physics, Swedish University of Agricultural Sciences, and Aalto University. Umeå University is responsible for the Kvarken New Space Innovation Ecosystem project which will identify potential and opportunities to create new businesses and ventures within the new digital space economy.

Head of project

Project overview

Project period

2019-09-01 2022-06-30

Funding

EU Interreg Botnia-Atlantica Program
Region Västerbotten
Österbottens förbund
Projekt budget 1 860 000 € / Project budget 1 860 000 €

Research subject

Business administration