The Territory is shooting for the stars this week as the NT Government and the Darwin Innovation Hub sign a Memorandum of Understanding (MoU) with Cap Vista Pte Ltd, the strategic investment arm of the Singapore’s Defence Science and Technology Agency, and Singapore Space & Technology Ltd (SSTL).
The MoU will enable the NT Government to be a strategic overseas partner to Project Cyclotron, a space technology focused venture building programme.
Project Cyclotron focuses on building regional space and deep tech companies, by providing them with highly customised support for commercial success, including investment, business and technical insights, marketing platforms and resources and market access in Asia Pacific.
Further opportunities for collaboration include the launch of Singapore-built rockets, the Northern Territory’s Arnhem Space Centre and co-investment in innovative space and tech companies that add value to the Territory’s space industry supply chains.
Due to the Covid-19 restrictions, the signing 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.
Quote from Nicole Manison Deputy Chief Minister
“To grow our economy, we need to diversify our economy. The Northern Territory has geographic advantages for space activities and we are perfectly positioned to benefit from the growing space industry and the jobs it will bring.
Project Cyclotron recognises the aligned objectives of Singapore and the Territory Labor Government to grow and strengthen the space industry in our region.
This strategic partnership will drive the creation of high-tech jobs, private sector investment and also contribute to the economic growth of the Territory. “
Quote from Chng Zhen Hao, CEO Cap Vista
“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.
Quote from Lynette Tan, Chief Executive of SSTL
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.
To be able to push this MOU through in the current COVID-19 climate speaks of our strongest commitment to make the collaboration work.”
Quote from Mr Harley Paroulakis, CEO Darwin Innovation Hub
“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.”
“We hope that Project Cyclotron will open doors for increased research and development and facilitate launch and testing opportunities for the Arnhem.”