02 Jun 2020 Investment
A space robotics company is the latest business to receive funding through the South Australian Government’s Landing Pad program.
LUX offers design, manufacture and operation solutions for self-organising stratospheric platforms for Earth observation.
The company provides stratospheric balloons which are high-altitude balloons that are released into the stratosphere between 15kms and 45kms in altitude, which is too low for satellites, too high for aircraft and cleared too quickly by rockets.
The South Australian Landing Pad (SALP) has been established to support companies looking to make their first investment in the Asia Pacific region, Australia or South Australia while helping to stimulate the local economy, create jobs and grow new industries.
Up to $80,000 is available over 12 months which is split between accessing accommodation and professional support, advice and case management.
LUX will use its funding towards legal counsel, financial advice, design and accommodation.
The SALP helps resolve many problems for companies starting up in a new country, including working with local businesses as vendors, business partners, customers and collaborators.
For further information see the SALP