On 19 November 2020, the Australia’s Northern Territory Government and the Darwin Innovation Hub signed a Memorandum of Understanding (MoU) with Cap Vista Pte Ltd and Singapore Space & Technology Ltd (SSTL) for a strategic partnership to collaborate on space activities through Project Cyclotron, Cap Vista and SSTL’s joint venture-building programme for space and deep tech companies.
Due to the Covid-19 restrictions, the successful signing ceremony took place over a hybrid event; on-site in Australia, at the Darwin Innovation Hub and in Singapore, at the High Commission of Australia, and virtually over Zoom. The Australian High Commissioner to Singapore, His Excellency Bruce Gosper, hosted the signing event in Singapore, while the First Secretary at the Singapore High Commission in Canberra, Abigail Ho, was a witness to the signing event in Australia.
The MoU aims to establish a strategic collaboration between Australia’s Northern Territory and Project Cyclotron that could enable a two-way deal flow of space startups between Australia’s Northern Territory and Singapore. Opportunities for collaboration include test-bedding and market validation; launch of Singapore-built payloads and rockets from the Northern Territory’s Arnhem Space Centre; and co-investment in innovative space and tech companies that add value to the space supply chains in the respective locations. This MoU signing in the midst of the global pandemic signifies both countries’ firm commitment to move ahead with this international partnership in spite of these extraordinary circumstances.
Project Cyclotron focuses on building regional space and deep tech companies, by providing them with highly customised support for commercial success, including potential investment, business and technical insights, marketing platforms and resources and market access in Asia Pacific.
“As Space is a niche sector, SpaceTech companies require significant support to catalyse their growth across various industry and geographical sectors. We are delighted to be deepening our relationship with the Australian’s Northern Territory Government and Darwin Innovation Hub to work together to collectively benefit the SpaceTech ecosystem in the Asia-Pacific region”, said Chng Zhen Hao, CEO Cap Vista.
“This collaboration with the Northern Territory Government and Darwin Innovation Hub is valuable for our startups, who would benefit from connections to the Australian space industry and physical sites to test their technologies. Project Cyclotron companies like Aliena, which is developing ultra low power electric propulsion systems, is currently partnering with the Darwin Innovation Hub. We also plan to collaborate on projects for other companies in the portfolio, like Bifrost, which generates labelled synthetic data for AI training for geospatial companies. To be able to push this MOU through in the current COVID-19 climate speaks of our strongest commitment to make the collaboration work” said Lynette Tan, Chief Executive of SSTL.
“Project Cyclotron recognises the aligned objectives of Singapore and the Northern Territory Government to grow and strengthen the space industry in our region. The Northern Territory has geographic advantages for space activities and we are perfectly positioned to benefit from the space economy and the jobs it will bring.” shared the Northern Territory Deputy Chief Minister, the Hon. Nicole Manison MLA.
“Project Cyclotron will provide the Darwin Innovation Hub the high-level Government and institutional framework needed to deliver more projects and private sector capital to the Northern Territory space sector. It will provide capacity to build upon our established investments; a co-investment with Cap Vista in the space propulsion company, Aliena, and our venture capital investment in the Arnhem Space Centre. Both these projects are tremendously exciting and position the Darwin Innovation Hub as a valuable new player in the Asia Pacific space sector. We hope that Project Cyclotron will open doors for increased research and development and facilitate launch and testing opportunities for the Arnhem Space Centre,” said Harley Paroulakis, CEO of Darwin Innovation Hub.
About Australia’s Northern Territory Government
Australia’s Northern Territory Government has set an ambitious target to double economic growth to 5% through the realisation of a number of major projects already in the pipeline, sustainable economic development and attracting new private sector investment. With geographic advantages for rocket and stratospheric balloon launch and ground station systems, Australia’s Northern Territory is the ideal location to meet many of the future demands of the global space industry. Investment Territory is the Northern Territory Government’s dedicated team providing investment facilitation services and customised information to private investors. Visit www.theterritory.com.au to find out more!
About Darwin Innovation Hub
The Darwin Innovation Hub (DIH) is a partnership between Paspalis, the Australian Government, the Northern Territory Government and Charles Darwin University. Established on the 1st of July 2017, the DIH became the first recipient of the Australian Government’s Incubator Support Initiative. In 2020, the DIH became the Northern Territories first Delivery Partner of the Entrepreneurs’ Programme, appointed by the Australian Government. The DIH supports and commercialises companies and projects that provide an economic advantage to the Northern Territory, and does so through direct Venture Capital Investment and providing expert advice in sectors ranging from Agtech, Energy and Resources, Advanced Manufacturing, as well as Digital Industries and Space Technologies. The DIH partners and collaborates in Asia Pacific centres that include Singapore, Shenzhen, Shanghai and Hong Kong. The DIH improves Northern Territory businesses capabilities, as well as start-ups to trade and export in global markets, improving supply chain performance with advice and funding, commercialisation of novel products and services, and connections to collaborative research sectors to develop innovative solutions. The DIH works to support both start-ups and high growth companies.
www.darwininnovationhub.com.au
About Cap Vista
Cap Vista Private Limited is the strategic investment arm of the Defence Science and Technology Agency. Cap Vista’s mission is to identify and make strategic venture investments in local and overseas emerging and early-stage companies that develop cutting-edge technologies. Cap Vista brings value by opening doors to its extensive network of partners, both locally and overseas, as well as other Singapore government agencies. For prospective companies focused on commercial markets, Cap Vista helps to identify the dual-use potential of their cutting-edge technologies.
About Singapore Space & Technology Ltd (SSTL)
Southeast Asia’s leading space organisation, spearheading awareness, adoption of space-related technologies, and fostering partnerships between various stakeholders to accelerate the high-tech ecosystem.
SSTL hosts global meets that involve consumers, space research organisations, leading and emerging technology companies, venture capitalists and space agencies from around the world. Gain access to industry experts through these meets and other programmes.
To encourage technology developments, we facilitate the development, manufacturing, and adoption of the latest space & satellite technologies in the region to transform urban smart cities, improve maritime surveillance, IoT and more.
As part of talent development for the future, SSTL creates opportunities through educational and outreach, and continuous learning programmes to encourage and support careers in space and high-technology fields.
Singapore Space and Technology Ltd (SSTL) was previously the Singapore Space and Technology Association (SSTA).
