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Australia's space industry 'in limbo' after key programs axed (www.abc.net.au)
submitted 1 year ago by Mountaineer@lemmy.world to c/australia@aussie.zone
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[-] Mountaineer@lemmy.world 6 points 1 year ago

There's some nuance missed here.

The "observation program" mentioned here, was a $1.2 billion program that was announced in the last days of the previous government.
There were no contracts, no tenders, just a vague proposal with a nebulous tax funded dollar figure attached.
The sector as a whole was using that announcement to entice investors in their own startups.
Now that it has been axed, the startups are struggling to gather further financing in what looks like a shaky industry.

this post was submitted on 03 Aug 2023
24 points (100.0% liked)

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