EY enters the Space race after a new team in Oceania secures $3 million in funding to focus on Space Tech products and services for clients.
EY Australia announced the launch of a Space Tech hub with Swinburne University of Technology to lead one of the biggest transformations of our generation.
The Space Tech hub was created after being awarded over $3m from EY’s Global Strategic Innovation Fund.
The hub seals a Master Research Services Agreement between EY and Swinburne providing EY clients access to Swinburne capabilities including research students, academics, and the OzSTAR supercomputer.
EY partner Anthony Jones will have oversight of the Space Tech hub that sees four EY partners leading 15 support staff comprised of scientists, data and analytics, and AI specialists. This dedicated EY team will work on client engagements with access to the full range of research excellence and specialists from Swinburne University of Technology.
Mr Jones explains: “The Space Tech hub will solve big business problems by focusing on the downstream side of space activity – utilising space-derived data and services for terrestrial benefit. We’ll be leveraging the capability of EY’s own astrophysicists, machine learning engineers and data scientists, as well as working with academics from Swinburne University of Technology, to help solve community resilience issues, drive decarbonisation initiatives, and aid in reducing the impact of natural disasters on communities.”
The Space Tech hub is committed to achieving three distinct outcomes for clients:
- IMPROVE COMMUNITY RESILIENCE : Help communities and businesses respond quicker and better to the impact of natural disasters and climate change related pressures.
- IMPROVE PRODUCTIVITY: Improve the safety and performance of our clients’ businesses through the adoption of Space Tech for managing and operating critical infrastructure and assets under challenged conditions.
- CREATE AN ECOSYSTEM TO SOLVE PROBLEMS OF NATIONAL INTEREST: Australia is positioned to adopt a leading and globally co-ordinating role in Space from the Southern Hemisphere to resolve issues for climate impact, land management, logistics, and defence.
Professor Alan Duffy, Director of the Space Technology and Industry Institute at Swinburne University of Technology said: “We are excited to be combining Swinburne’s world-leading research, technology and education capabilities with EY’s deep global connections and end-user insights to create sustainable Space Tech solutions to real-world problems.
“This pioneering Space Tech hub is all about taking the knowledge we’ve gained from research across our universe and applying it to the complex problems we face here on Earth.
“Through the use of ground-breaking technology, like the Swinburne OzSTAR supercomputer, and our access to the next-gen of talent, this partnership will ensure that Australia’s Space industry is at the forefront of this global economic, environmental and social opportunity,” said Professor Duffy.
Anthony Jones said: “This Space Tech hub and dedicated team is set up to solve the problems of today and take advantage of the business opportunities of tomorrow. We are now showing clients how to extract, drive and change the opportunities that Space provides by bringing together research and business expertise to realise the changes they’re after.”
The Australian Space sector is growing at an annual rate of 7.1%, outpacing GDP. The Australian Space Agency has predicted the nation’s Space economy to grow to more than $8 billion and provide more than 30,000 jobs by 2030.