[Via Satellite 11-18-2014] The United Kingdom Space Agency (UKSA) has allocated approximately $50 million to build relationships with foreign companies through the International Partnership Space Program (IPSP). During the two-year program, British companies will receive grants to collaborate with international partners on satellite technologies that address challenges such as deforestation, flooding and disaster relief in emerging economies.

The U.K.’s space sector is worth more than $17 billion, and is growing at a rate of more than 7 percent per year. More than 5,000 jobs were created during the past two years. The country has set as a major goal to grow its space industry to 10 percent of the global space sector by 2030. Companies such as Thales Alenia Space and Lockheed Martin have opened offices in the country this year.